Pros
I worked on a consumer-facing product for iOS, and even as a first-year intern, I was given the chance to work on a high-impact project and take it on myself. At the end of the internship we had the opportunity to present the results of our work to the VP of our department, which was a really fantastic opportunity given that this was my first internship experience. General perks of interning at Apple: They treat their interns really, really well. In addition to providing free housing (which was at worst a 15 minute drive from work) or a $1000 housing stipend, some teams provide free lunches/dinners to employees, and you're also eligible for all the other employee benefits, like health insurance, fitness center membership, product discounts, etc. More importantly, you get to work in a really flat environment and form a really close bond with your manager and others on your team. Apple also does an "Executive Speaker Series" during which each of the Apple executives give a seminar-style talk to the interns about the work they do, where they come from, etc.
Cons
This wasn't my experience, but the truth is that depending on your team, the work might be uninspiring because working on consumer-facing products at Apple is undeniably more fun than working on internal tools or QA. That said, that's true of almost all product-driven companies, so it's really just a general point to note.