NEW YORK ( TheStreet) -- Hedge fund manager Carl Icahn is once again making headlines, this time on Apple (AAPL) and his proposed $150 billion share buyback plan.
Brittany Umar spoke to Keith Bliss of Cuttone & Company, who said this is just "Carl Icahn being Carl Icahn."
He added that in order for Apple to do the proposed buyback it would either need to finance about $100 billion or bring its cash back to the U.S. from its offshore accounts, a move that would trigger billions to be paid in taxes.
Bliss suggested that the move may not be the wisest because it won't increase the company's cash flow and may not even help the share price over the long term.
Staying in tech,
reports earnings after the close on Thursday. Bliss said the demise of the company is always overblown by the press and he'll be watching to see if the company grew revenue and what its long-term forecast will be.
He added that it will be interesting to see how or if the company is capitalizing on its core businesses, and what it's doing to compete against
Switching to a broader market view, Bliss said that as long as the
continues its bond-buying program, interest rates should continue to fall. Falling interest rates should help the mortgage and refinance business, and thus banks such as
Bank of America
, Bliss concluded.
-- Written by Bret Kenwell in Petoskey, Mich.