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.