Apple doesn't only make products if they haven't been "done riht" so to speak. They make them if they see that they can make a lot of money at them.
Cell phones? Being given away, no money, unless you're also tied to the sevice end, complicated and messy, forget it.
Consumer electronics. Camcorders, PVR's, TV's, digital still cameras. Lotsa money, but also lotsa competition. IF Apple goes there, look fo rhtem to wade intot he fray cautiously, and to have a strategy mounted to back it up. ie, iPod plus iTMS.
iMovie, plus QT, plus rendesvous, plus iCal, plus a possible PVR type software/firewire TV peripheral? Mebbe. Imagine broadcasting MPEG4 based home movies to friends? OR a software (plus firewire breakout) package that lets your iMac become a PVR. iCal lets you program your shows, and the software just records at the right time, or you might use .mac to access "play lists/guides" that automatically list all the shows you want. Perhaps your DVD burning can even be automated. You leave a blank DVD in there and when the show is recorded, the DVD is burnt and the HD file erased. Almost no HW costs, just a software package and a breakout box. OR, an QTMS (Quick Time Movie Store) and a standalone (mac syncing) PVR. Airport tells the PVR what you want to order and it goes to it DL'ing the (MPEG4) file as time, bandwidth permits. It's encrypted, but you get a very high quality file, that you can watch, or pay to make it "free" to burn to DVD. "Rent" or "Buy" and watch at your leisure all without leaving your home. We still need more bandwidth at better prices before that becomes feasible, but even now a broadband user could order the movies the night before and have them ready to watch the next day.
What we will see, once good HDTV sets become a reality, is the return of the console/computer, like a box that uses HDTV as a "monitor" 1920x1080p is enough to make text/data display comfortable on a big screen. The living room computer, basically, is waiting on TV technology to permeate the market, then numerous set-top functions will migrate to real computers that just happen to be able to drive a monitor as well as a TV. Mebbe in 4-5 years.