Icahn At It Again In Apple

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Apple Inc. (NASDAQ: AAPL) shares were trading higher by $2.12 (1.7 percent) at $129.15 in Wednesday's session. The issue has been rallying since the opening bell and received boost shortly after.

At about 10:41 a.m. ET, Carl Icahn took to the Twittersphere to reveal that he has sold out of Netflix, Inc. (NASDAQ: NFLX) today and believes "Apple represents the same opportunity that he stated Netflix offered several years ago."

See Also: Carl Icahn Sells Netflix As Apple Represents 'Same Opportunity' From Years Ago

After seven trading sessions waffling between $125.71 and $128.31, Apple has cleared the upper end of the range, reaching $129.80 so far in today's session. That level coincides with its June 5 high ($129.69). If the rally continues, there may be additional resistance at its June 4 high ($130.58).

Shares are down about 2.5 percent over the last month.