The Apple stock price had a strong performance in 2021, even as the supply chain issues affected the company’s business. The stock jumped by 34.60% in 2021, pushing its total market capitalization to about $3 trillion. It was also one of the best performing FAANG stocks.

Apple strong growth

Apple has had a remarkable performance in the past few years. For example, its stock price has risen by 540% in the past five years.

There are a number of catalysts that have pushed the company’s share price higher. First, the company has received positive reviews for its in-house silicon. The M1 chips that were launched two years ago seem to be performing better than the ones from Intel.

For example, Macbooks built with the chips have a longer battery life and don’t produce fan noise. They have also enabled Apple to build slimmer devices than what it did in the past.

Second, Apple has been successful in the accessories business. In 2021, it launched products like AirTags and wireless headphones that have been relatively successful. Its wearables, home, and accessories business had $8.76 billion in the third quarter of the year.

Third, the Apple stock price jumped because of the strong performance of the services segment. This is an important business that includes services like Apple News, Apple Music, iCloud, and Apple TV. Its revenue rose to $17.5 billion in the third quarter, which is remarkable considering that it was a small part of its business.

Most importantly, the AAPL stock price jumped because of the strong shareholder returns by the company. In addition to its regular dividends, the company launched a strong $90 billion share buyback plan in April. As a result, the company’s outstanding shares have dropped from about 18.58 billion in 2018 to 16.86 billion in September 2021.

Apple outlook

2022 will be a good year for Apple as it is expected to launch several products. The company is expected to unveil iPhone 14, which will be a minor upgrade from iPhone 13. 

It will also launch Apple Watch Series 8, as the devices keep getting more powerful. Other key products that the company is expected to launch are the AirPods Pro, MacBook Air, and a virtual reality product. 

The VR product will be watched closely because of the ongoing shift to the metaverse. Analysts believe that the company will become a leading player in the industry.

Another thing that could push the stock higher will be the Apple Car. Apple has remained mum about the project for years and analysts believe that the product will be launched in 2024 or 2025. Still, in 2022, there is a possibility that we will get more hints about the products.

Analysts are bullish about the Apple stock price. According to WeBull, the average price estimate for the stock is $174, which is slightly below the current level of $177. The most optimistic estimate is at $189. 

Apple stock price forecast

The daily chart shows that the AAPL stock price has been in a strong bullish trend in the past few months. The stock is slightly below last year’s high of $182. It is also slightly above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has been in an upward trend. 

However, a closer look shows that the stock is forming a double-top pattern. Therefore, while the stock will keep rising in 2022, there is a likelihood that it will have a bearish breakout in the first part of the year.

The daily AAPL stock price chart forming a double top