'Apple Pulls Plug On Goldman Credit-Card Partnership; Tech Giant Proposed Exiting Contract In About 12-To-15 Months' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Apple Inc. has proposed to end its credit-card partnership with Goldman Sachs within the next 12-to-15 months. This decision includes terminating the joint credit card launched in 2019 and the savings account introduced in 2022.
November 28, 2023 | 11:13 pm
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NEGATIVE IMPACT
Goldman Sachs' loss of the Apple credit-card partnership could negatively impact its consumer lending expansion efforts and potentially its revenue from this segment.
The termination of the partnership with Apple could be seen as a blow to Goldman Sachs' consumer lending ambitions, which may concern investors and negatively affect the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Apple's decision to end the credit-card partnership with Goldman Sachs may reflect a strategic shift or dissatisfaction with the partnership's performance.
While the news indicates a significant change in Apple's financial services strategy, the impact on the stock may be limited as Apple's core business is not heavily reliant on financial services.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70