Kevin O'Leary: 'You'd Be Out Of Your Mind' To Buy Apple's Swiss-Franc Bonds

Following recent high profile hack attacks, the Obama administration announced Tuesday, February 10, the creation of a new agency to deal specifically with the growing cybersecurity threat.

Tim Cook, CEO at Apple Inc. (NASDAQ: AAPL), has been invited to speak at the White House on the issue.

Investor Kevin O'Leary was on CNBC to discuss Apple’s role as a spokesperson on this issue and whether the company’s recent Swiss-franc bond issue is worth a buy.

Apple As The Spokesperson For Cybersecurity

“Insofar as Apple being a spokesperson for it, if you recall about three years ago bringing your own device became popular with large corporations and people really started bringing the iPhone into the platforms that were offered corporately,” O’Leary said. “It wasn’t that case before then. In my own operations, I look at the companies I invest in; I would say Apple has about 75 percent share, even in financial services.

“So, now I have to worry about how secure or not secure the Apple platform is and how much of my company’s data is floating around on Apple’s servers. So, I think it’s a great topic, but I never like the government driving the process for private companies in terms of anything.”

Related Link: Fallout From New U.S. Cybersecurity Agency Includes Multiple Hacks, Profits For 'Cyber Bulls'

Are You Going To Buy Apple’s Swiss-Franc Bonds?

“Never,” O’Leary replied.

“Let’s call it what it is: because we don’t allow our companies to repatriate their capital, this is a form of repatriation.

“You issue these securities state side; you get to write-off the interest, even though it’s ridiculously low. And all of these contortions, because we can’t get our corporate tax law in order or at least consistent or competitive with everybody else, this is sheer stupidity.”

He continued, “As far as this as a instrument for a long-term investment over a decade, you’d be out of your mind to buy these bonds.

“And yet, they are going to sell them out in two seconds to institutions; it’s nuts. You are basically lending your balance sheet to Apple, because they can’t repatriate their cash. How dumb is this?”