Why Jim Lebenthal Thinks Apple Stock Is Headed To $175 This Year

Benzinga2021-07-12

After a slow start to the year,Apple Inc(NASDAQ:AAPL) made a new all-time high in Friday's trading session.

When Apple sets a new high, the stock usually rides the momentum and goes a lot higher, Cerity Partners'Jim Lebenthalsaid on CNBC's "Fast Money Halftime Report."

The one exception to this was when Apple pulled back at the beginning of the year after making a new high, Lebenthal noted. He believes that instance was an aberration.

When Apple was in the $120 range in March, Lebenthal said he had a $150 price target on the stock. Apple is going to hit $150 this month, he said, adding that he now believes Apple will reach $175 before the end of 2021.

Price Action:Apple is up 9.27% year-to-date. The stock last closed at $145.11.

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Comments

  • _Batman_
    2021-07-12
    _Batman_
    Looks promising.. any comments? To buy now orwait ?
  • Linh2
    2021-07-12
    Linh2
    ok
  • DK21
    2021-07-12
    DK21
    Slowly picking up
  • Jetblackeyes
    2021-07-12
    Jetblackeyes
    @yvneyngbe patient it’s coming 
  • GANCL
    2021-07-12
    GANCL
    For long term investment 
  • vincentheng8
    2021-07-12
    vincentheng8
    Up and up to the moon 5G and apple car!!!!
    • ngchris: 
      yes. waiting for these announcements.  hopefully soon.
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