The iPhone has been the cornerstone of Apple's (NASDAQ: AAPL) success for years, ever since it disrupted the smartphone market when its first model debuted 16 years ago, but it looks like days of rapid sales growth for its flagship device may be over.

In its fiscal 2022 (which ended on Sept. 24), the Cupertino-based tech giant's iPhone revenue increased by 7%. While that may not seem like much, it is worth noting that Apple added $13.5 billion in incremental iPhone revenue during the fiscal year, bringing its total to $205.5 billion.

That massive revenue base explains why even multibillion-dollar jumps will appear fairly small on a percentage basis.

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Source Fool.com