Apple's Pre-Earnings Rally Accelerates

Apple Inc. AAPL shares are trading higher by $2.50 (1.7 percent) at $146.15 in Monday's session.

It appears no one wants to be short and everyone wants to be long going into the company's Q2 report after Tuesday's close. Street estimates for EPS come in at $2.02 on revenues of $52.99 billion.

After a much higher open, Apple's stock retreated only $0.14 to $144.96 before continuing its move higher. That low was well above the top of Friday's range, which was down at $144.30. It has continued to make new highs for the day and the pace of the rally increased once the issue passed its former all-time high from April 5 at $145.46.

Apple has now busted into the $146.00 handle as $146.29 stands as the high for the day as of 11:02 a.m. ET.