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Don't see it happening, or being very successful if it does. The console market, as large as it is, can realistically only sustain a finite number of platforms, and three major consoles at once is pretty much the limit before the sales start to become too small for a platform to be competitive. In addition, Apple doesn't exactly have the best reputation when it comes to gaming, so a lot of people would likely be vary of them putting out a console.

The only way I see this happening is if Microsoft steps down from the console market, which would free enough space for a new company to try their hand at it, and I doubt that'll happen any time soon either.