For a company that routinely touts its products as being magical, the origins of Apple's name are actually quite ordinary.
According to Apple co-founder Steve Wozniak, Jobs spouted out the name while the two were driving along Highway 85 outside of Palo Alto. Woz tells the tale in the 2004 book Apple Confidential 2.0:
Steve was still half-involved with a group of friends who ran the commune-type All-One Farm in Oregon. And he would go up and work there for a few months before returning to the Bay Area. He had just come back from one of his trips and we were driving along and he said, "I've got a great name: Apple Computer." Maybe he worked in apple trees. I didn't even ask. Maybe it had some other meaning to him. Maybe the idea just occurred based upon Apple Records. He had been a musical person, like many technical people are. It might have sounded good partly because of that connotation.
Here's what I really want to know: You think Steve wore jeans and a black turtleneck while working at the farm?