15.08.2019 00:23:00

Goldman Sachs Might End Up Regretting Apple Card Partnership

As the issuing bank for Apple's (NASDAQ: AAPL) first direct foray into the credit card industry, Goldman Sachs (NYSE: GS) could get stuck holding the bag in the event of an economic downturn, which is appearing increasingly likely thanks in part to President Trump's trade war with China. Some analysts had already predicted that Apple Card could be unprofitable for the famed investment bank, even before factoring in recent macroeconomic concerns.Investors panicked today when the yield curve inverted, historically seen as a leading indicator for recessions. The last time that the yield curve inverted was in 2007, prior to the Great Recession.Apple Pay chief Jennifer Bailey introduces Apple Card in March. Image source: Apple.Continue reading
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