3 catalysts for Apple stock in 2021

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The NASDAQ-100 Technology Sector index has more than doubled the return of the S&P 500 index over both the last one- and five-year periods, but Apple (NASDAQ: AAPL) has remained among the cream of the crop, surging roughly 84% so far in 2020 and about 405% over the last five years. 

Those heady gains put Apple’s stock price at a premium valuation of 34 times forward earnings estimates, which looks expensive compared with a forward price-to-earnings multiple of 24 for the S&P 500. 

However, Apple is currently entering one of its strongest product cycles in years, which could keep the business humming along and justify the…