Apple's (NASDAQ:AAPL) new iPhone 5s has now hit the market, and demand appears to be strong, as the device is still hard to find three weeks after launch. Apple's marketing tagline this year is that the iPhone 5s is "forward-thinking." That may seem like a strange way to market the new device, but it's quite appropriate, considering the features Apple is including in it.

Inside, the new 64-bit A7 processor and M7 coprocessor have important strategic implications for future products. Moving to a 64-bit chip architecture lays the foundation for even greater hardware upgrades in the future, while the M7 hints that Apple has its eye on wearable fitness devices.

Apple has partially stopped fighting the spec war in cameras, sticking with an 8-megapixel shooter while instead focusing its efforts on other areas such as dual LED flash and larger pixels for better low-light performance. 

The headline feature is easily Touch ID, Apple's new fingerprint sensor that users can use to unlock the device and make iTunes purchases with. That's just the tip of the iceberg for potential use cases, and mobile payments comes to mind as the possible game-changing end goal -- if Apple can navigate other privacy and security concerns.

In the following video, Eric Bleeker, CFA, and Evan Niu, CFA, discuss all the new features in Apple's iPhone 5s.

Eric Bleeker, CFA, has no position in any stocks mentioned. Evan Niu, CFA, owns shares of Apple. The Motley Fool recommends and owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.