Pros
Excellent offices, good cafe, good pay, decent work life balance, interesting problems to solve, if you can get to do them.
Cons
Extreme (and largely useless) secrecy makes it difficult to get anything done. The "Apple way" of doing things is by plucking some people from separate teams that specialize in something and sort of mushing them together as a virtual team. This has its advantages and disadvantages. Advantage: those teams can really deeply specialize in a narrow sub-field, and as such deliver insights and results that generalists can't deliver. You can see this in Apple products every day. Disadvantage: this works only on the hardware side. On the software side, I would much rather have teams of capable generalists working on products, but with the ability (and requirement) to reach out to specialists when needed. That'd work way better than "Apple way" works today.