Apple, Goldman Sachs partnership reportedly coming to an end; new partner sought for the Apple Card

An Apple representative told CNBC today, “Apple and Goldman Sachs are focused on providing an incredible experience for our customers to help them lead healthier financial lives. The award-winning Apple Card has seen a great reception from consumers, and we will continue to innovate and deliver the best tools and services for them.” It isn’t clear whether Apple has a deal with a new partner although, as we mentioned at the beginning of this article, American Express was rumored in July to be interested in the business.

Goldman originally hoped to have its consumer credit division, which includes the Apple Card, hit the breakeven mark in 2022. But that has been pushed back until 2025. Last year, Wolfe Research analyst Bill Carcache said, “The Apple Card portfolio may generate lower revenues and face higher loss content relative to the industry average.”