Billionaire activist investor Carl Icahn said his firm had sold the remainder of its stake in Netflix and that Apple represented the same opportunity he said Netflix offered years ago.
"Sold last of our $NFLX today. Believe $AAPL currently represents same opportunity we stated NFLX offered several years ago," Icahn wrote on Twitter.
Icahn's firm owned about 1.4 million shares of Netflix at the end of the first quarter, according to Securities and Exchange Commission filings.
Icahn's announcement came after the California-based video-streaming service said earlier this week that its board of directors had approved a seven-for-one stock split.
Netflix shares slipped from a record high of $706.24 after Icahn's tweet, and last traded mostly flat at $681.20.
Apple shares rallied to a nearly two-week high of $129.80 after Icahn's tweet before paring gains to last trade up 1.2% at $128.53.
Icahn owned about 52.8 million shares of Apple at the end of the first quarter according to regulatory filings.
He said in an open letter to Apple chief executive Tim Cook on May 18 that Apple shares should be trading at $240 and that he believed the company was poised to dominate the television market by 2016 and the automobile market by 2020.
Icahn told cable television network CNBC that Apple is even better-positioned than Netflix was several years ago given how difficult it is to compete with Apple, whereas Netflix "always had the possibility of some competition."
He also told CNBC that said Netflix was "still a great company" but that it had become more vulnerable to competition, and that he had not sold any shares of Apple and would buy more if they slumped.
Icahn's Icahn Enterprises acquired Netflix shares for an average price of $58, and booked profits on the stock of between $700-$800m in 2013.
In late 2012, when Icahn disclosed a 10% stake in Netflix, he said the company was in a "great position" to take advantage of consumers' shift to watching more video content through streaming to televisions and mobile devices.
