would it really? If it's impossible to produce enough to meet demand, and America certainly doesn't have the infrastructure to support iPod+iPad+iPhone production, then Apple would be losing even more to cheaper competitors running Android.
So there's the initial loss, from increased labor costs. Tack on the increased materials cost, because everything comes from China. Add in the time to get the parts by boat, because they're not going to air-freight the parts to produce millions of iDevices. Add in the opportunity cost, from competition (made in China, and much cheaper) eating Apple's lunch. Add in the cost if China decides it's time to scale back on providing eare earth minerals to foreigners in some sort of protectionist bid. It's a lot more than the $70 that some yahoo thinks it could cost.
Sure, you can bury your head in the sand and pretend that it's just the labor that's more expensive, but Apple knows better and so do thousands of other CEOs and American companies that make none of their products in America.
Or maybe you and some other /. pundits are right, and America really does have a chance to win back Apple's manufacturing business ;)