A b s t r a c t . From the analysis of a series of data concerning phenomena taking place in the high corona, in the interplanetary medium and in the magnetosphere, we came to the conclusion that we have to take into consideration a two-component solar cycle in which, with a 5-6 yr delay, the cycle of the dipole component of the solar magnetic field and the following sunspot cycle are closely correlated. In order to show the new mechanisms to incorporate into a model of a two-component solar cycle, we discuss several other relevant solar data.