Goldman Sachs regrets Apple Card, and is trying to escape the deal

Apple Card and Apple Savings are performing so poorly for Goldman Sachs, one executive has reportedly said that "we should never have done this f****** thing."

William Gallagher 2 years ago 42

Goldman Sachs 'encouraged' by improving PC market

Goldman Sachs is encouraged by the improving PC market, but warns Apple and other vendors still face lower spending budgets for both consumers and enterprise.

Malcolm Owen 2 years ago 0

Apple & Goldman Sachs abandoned plans for a Robin Hood-like stock trading app

Apple and Apple Card financial partner Goldman Sachs are said to have abandoned nascent plans to co-develop a stock trading app like Robin Hood for iPhones, but it's not completely clear why.

Mike Wuerthele 2 years ago 6

Automated fraud protections tuned up to make Apple Savings withdrawals easier

After a tumultuous period between Apple and Apple Card partner Goldman Sachs involving Apple Savings customer withdrawals, the issues appear to be mostly solved with loosened anti-fraud protections.

Mike Wuerthele 2 years ago 1

Apple Card earns J.D. Power's top spot for co-branded credit card with no annual fee

Apple partnered with Goldman Sachs to launch the Apple Card, and for the third time, the credit card has earned J.D. Power's number-one ranking in satisfaction.

Evan Selleck 2 years ago 4

Apple Savings deposits hit $10 billion in just over three months

Apple Savings deposits have hit a landmark $10 billion since inception, fueled by holders sweeping Daily Cash into the high-yield savings accounts.

Mike Wuerthele 2 years ago 12

How the Apple-Goldman Sachs relationship became an unhappy marriage

Apple's relationship with Goldman Sachs led to the creation of the wildly successful Apple Card, but post-launch friction and a change in priorities has crashed the relationship into the rocks.

Malcolm Owen 2 years ago 20

Goldman Sachs expects iPhone 15 to spearhead strong Apple growth

Alongside predicting a healthy but stable Apple quarterly earnings report in August, Goldman Sachs analysts say the iPhone 15 lineup will see greater numbers of users upgrading.

William Gallagher 2 years ago 0

Goldman Sachs continues to bleed cash from Apple Card operations

Goldman Sachs has reported more losses from its credit card operations, mostly attributable to Apple Card, and it's not clear when or how the bleeding will stop.

Andrew Orr 2 years ago 21

Select Apple Savings customers credited $100 after over-long withdrawal requests

Apple Savings customers that inadvertently triggered fraud protection from large withdrawals had to wait days or weeks for money, and now they are being credited $100 for the inconvenience.

Wesley Hilliard 2 years ago 2

Apple Savings customers hit with long delays when withdrawing money

Some Apple customers are facing multi-week delays when trying to withdraw money from their Apple Savings accounts, largely due to automated anti-money-laundering protections.

Amber Neely 3 years ago 15

Goldman Sachs move casts shadow over Apple Savings accounts

Plans for the Apple Savings program may be jeopardized by troubles with Goldman Sachs' consumer business, as the bank has reportedly dropped its consumer credit card efforts outside of Apple Card.

Andrew Orr 3 years ago 8

Feds looking at Goldman Sachs' Apple Card business unit

The Federal Reserve has opened an investigation into Goldman Sachs to determine if the bank's consumer credit division, which for now includes Apple Card, has enough consumer protections.

Andrew Orr 3 years ago 15

Apple Card is a drag on Goldman Sachs, says CEO

At Davos, Goldman Sachs CEO David Solomon said his bank was too ambitious launching consumer credit, after it posted a big loss in the division mostly due to Apple Card in 2022.

Andrew Orr 3 years ago 14

Goldman Sachs lost $1.2 billion in 2022 mostly because of Apple Card

Goldman Sachs' consumer credit division lost $1.2 billion in nine months last year, and the losses were primarily related to the Apple Card.

Andrew Orr 3 years ago 26

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