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.

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