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Apple Inc (AAPL) stock to rise as iPhones continue to dominate sales by introducing ‘Tap to pay’

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Apple Inc. (AAPL) has remained an investor-favorite stock based on the quality of products and services it provides to the market. Apple had already shown strength with an amazing start to the year 2022 when it became the first company to hit a $3 trillion market capital and £2.2 trillion stock market value on the back of investor enthusiasm.

From the figures released on the performance of Apple’s products, it was found that the iPhone generated the most sales with $191.97 billion recorded in the twelve months which ended 25 September, 2021 – 39% up from the previous year’s $137.78bn.

At present, there is general expectation that Apple stock prices are set to rise by at least 20% to $220 in 2022.

This projection is driven by the recent increased demand for iPhones after Apple officially introduced a new capability in iPhones that is designed to enable US merchants accept Apple Pay, credit and debit card payments and other digital wallets with just a tap of one iPhone to another. The NFC-powered feature now implies that a separate payment terminal is no longer needed.

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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