The Wall Street giant is expected to disappoint in Tuesday's third-quarter earnings, with the Apple partnership facing intense scrutiny.
Goldman Sachs’ third-quarter earnings may be the final straw for the Apple Card as the Wall Street giant faces internal pressure to exit the consumer-lending space. The Apple partnership has long been seen as a distraction from Goldman’s core business, the Wall Street Journal reported Monday. In regards to the recently launched Apple savings accounts, a Goldman partner told colleagues, “We should have never done this f—ing thing.
” Apple’s Tim Cook said around the same time that the card would be “the most significant change in the credit card experience in 50 years.” The tone has certainly shifted, and many Goldman executives are questioning whether the foray into consumer banking should have ever happened. The partnership between the two powerhouses of Silicon Valley and Wall Street, once lauded as innovative, is now one of the most scrutinized decisions in Solomon’s career.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs really wants to end its Apple Card deal, new report saysThe Apple Card days may be coming to an end, as Goldman Sachs isn't happy with its consumer division, a new report suggests.
Read more »
Goldman Sachs upgrades this homebuilder stock, says it can outperform despite higher mortgage ratesThis construction company's focus on sales volume could help push the stock higher as consumer affordability remains tight, Goldman Sachs says.
Read more »
Earnings playbook: Netflix and Goldman Sachs headline a big week of reportsExpectations for the overall earnings season are muted.
Read more »
Goldman Sachs says this global tech stock will soar as 'gaming-as-a-service' takes offThe tech giant recently completed a major acquisition to help it scale its gaming-as-a-service offerings, according to the Wall Street bank.
Read more »
Stocks Are Poised to Rise MondayThis week includes earnings reports from Tesla, Netflix, and Goldman Sachs.
Read more »
Apple to update iPhone units inside Apple Stores without opening the boxesAlan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 11 Pro Max, he has seen smartphones evolve into a global phenomenon.
Read more »