You've just solved the US trade deficit and added a healthy chunk to Apple's margin, what are you going to do with your $1.4 million Nobel prize in economics winnings?The labor cost is only one factor, and not as much as a lot of people think. The Japanese have high labor cost, yet they've managed to be extremely competitive building automobiles and computers.
Apple can still source some parts from Taiwan and Korea, and move assembly back to the states, and take advantage of robotics like the Japanese do. This would provide skilled jobs.
The increased labor costs would also be offset somewhat by cheaper shipping.