With a market cap of $2.26 trillion, Apple (NASDAQ: AAPL) is the most valuable company in the world. Its dominance in the tech world has made it one of the best growth stocks, with its shares rising 227% in the last five years despite a sell-off in 2022, which has pulled its stock down 22% year to date.

There are numerous green flags for the iPhone manufacturer, with its walled garden of products capable of pulling consumers further into its ecosystem with just one purchase. However, its services business, including subscription-based platforms such as Apple Music, TV+, Fitness+, Arcade, News+, and iCloud, is especially promising for its long-term growth.

Meanwhile, Apple's reliance on China for its iPhone production could present more short-term headwinds. Here's why.

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Source Fool.com