Expect Apple to linger at $130: Strategist

Look for Apple's steady climb to slow as the stock reaches $130 per share, a market strategist said Friday.

The resistance will likely only mark a "temporary" stopping point, though, as shares inch higher, said Katie Stockton, chief technical strategist at BTIG, on CNBC's "Squawk on the Street."

"It really is starting to feel like you just can't go wrong with owning Apple," she said.

Shoppers walk by an Apple store in Tokyo, Feb. 07, 2015.
David Mareuil | Anadolu Agency | Getty Images
Shoppers walk by an Apple store in Tokyo, Feb. 07, 2015.

Apple was trading around $126 per share on Friday. The stock has floated more than 60 percent higher in the last year, and the technology mammoth earlier this week became the first U.S. company to close with a market cap above $700 billion.

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Though she believes Apple stock will see some resistance around $130 per share, BTIG has a $150 price target on the company, Stockton said. She noted that multiple technical factors bode well for a continued Apple climb.

It has been "stair stepping" higher rather than rising and falling meteorically, she said. Stockton added that Apple has seen four corrections at an average of 12 percent since 2013, which shows that confidence in the stock has not gone unchecked.

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