Oh for sure, there’s a famous quote that goes along the lines of “Technology at a certain point to the average person is indistinguishable from magic”

we have electromagnets inside the speaker that can alternate between the two potentials at the same frequency/speed as is required for the tone in question?

Right on the money! For subwoofers they’re huge cones and huge magnets (I LOVE the pressure of an 18" super scooper), those go at 15-150 times a second back and forth. For your phone speakers or earphones they’ve the tiniest membranes that go at 200-18000 times per second. A quality soundsystem will combine these to get a range from 20-22000Hz which is a little more than our ears ability.