Demand for the iPhone sent (NASDAQ: AAPL) stock up nearly 10-fold during the past 10 years, making Apple one of the world's most valuable companies, with a market value of $3.5 trillion. Investors might be wondering if it can still deliver adequate returns from its current highs.

Although iPhone sales fell last year, the stock is up about 19% this year and sitting at new highs after the company said new features powered by artificial intelligence (AI) will be included in Apple's iOS later this year.

Apple Intelligence will be available as a free upgrade in iOS 18, but the advanced processors required for the new feature could drive strong demand for newer iPhone models and benefit Apple's share price.

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Source Fool.com