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. 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. 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.