Carl Icahn's Apple Stock Sale May Not Be Looking So Good

Apple Inc.'s stock surged 7.9% in premarket trade Wednesday, putting it on track to open at the highest level since April 26, in the wake of the technology giant's quarterly results. The stock was still trading 4.3% below where it ended the first quarter, at $108.99. Carl Icahn disclosed in a May filing that he no longer owned any Apple shares as of March 31, after owning 45.8 million shares as of Dec. 31. The filing doesn't disclose at what prices Icahn sold his Apple stock. The stock traded within a range of $92.39 to $110.42, and the average of the volume-weighted average closing prices during the quarter was $99.59, based on data provided by FactSet.