I don't know if they are talking about just designing the chips or also owning the manufacturing plants but either way its not an easy thing to setup in-house. I don't know how much sense this makes for them.
No I don't think Apple meant to say they're gonna build their own Fabs. Do like most small chip makers do. Design your own chip and have a company in China build them for you. Stamp and Apple iChip logo on it and wala!