Goldman Eyeing Exit From Apple Card Partnership, Report Says. Here's What That Means For The Financial Services Giant.
Portfolio Pulse from Shanthi Rexaline
Goldman Sachs is reportedly considering ending its partnership with Apple, including the Apple credit card and other joint ventures. The financial services company is in talks to transfer these operations to American Express. Goldman is also discussing transferring its card partnership with General Motors to Amex or another issuer. This move could mark the end of Goldman's consumer lending operation.
July 01, 2023 | 6:13 pm
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NEGATIVE IMPACT
Apple may lose its partnership with Goldman Sachs, which includes the Apple credit card and other joint ventures.
Losing the partnership with Goldman Sachs could impact Apple's financial services offerings and potentially its revenue.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Goldman Sachs is considering ending its consumer lending operation, which could impact its business model and future growth.
Ending the consumer lending operation could limit Goldman Sachs' diversification and potential revenue streams, potentially negatively impacting its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
General Motors' card partnership with Goldman Sachs may be transferred to American Express or another issuer.
The transfer of the card partnership could impact General Motors' financial services, but the overall impact is uncertain without more details.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
American Express may acquire the operations of the Apple credit card and other joint ventures from Goldman Sachs.
Acquiring the operations from Goldman Sachs could expand American Express' services and potentially increase its revenue.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70