After Bidding Adieu To Goldman Sachs, Who Would Be Apple's Ideal Partner? Mark Gurman Predicts Chase Bank
Portfolio Pulse from Ananya Gairola
Apple Inc. has ended its financial services partnership with Goldman Sachs Group Inc. Bloomberg's Mark Gurman suggests that Chase Bank, a part of JP Morgan Chase & Co., could be a suitable new partner for Apple. Chase already has a significant relationship with Apple, including managing its cash reserves, partnering for Apple Pay, and offering discounts on Apple products. The dissolution of the Apple-Goldman Sachs partnership, which began in 2019 with the Apple Card, follows issues such as delays, financial losses, and customer service problems, leading to billions in losses for Goldman Sachs.
December 04, 2023 | 3:00 am
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NEGATIVE IMPACT
Goldman Sachs' termination of its partnership with Apple, which has led to financial losses and customer service issues, could negatively impact investor sentiment in the short term.
The end of the partnership with Apple and the associated financial losses could be seen as a negative development for Goldman Sachs, potentially affecting its stock price negatively in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Apple's search for a new financial partner after ending its relationship with Goldman Sachs could be seen positively if a more beneficial partnership is established, potentially with Chase Bank.
Apple's decision to seek a new financial partner could lead to improved customer experience and financial performance, which may be viewed positively by investors in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80