Goldman Sachs' break up with Apple could cost $500 million to $4 billion, says analyst [Fortune]
Goldman Sachs Group, Inc. (The) (GS)
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am
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Source: Fortune
appears to have fizzled and Apple is reportedly looking for a new card partner. If this goes forward, it will stick Goldman with a large bill and see the bank eliminate one of its three business lines entirely, according to a star analyst. For context on Goldman's potential business pivot, it's helpful go back nearly ten years ago. That's when the firm, known for advising high net worth individuals and for its storied investment bank, decided to diversify. In 2016, it launched Marcus by Goldman Sachs, an online bank that offered personal loans and savings accounts. Goldman then added credit cards to its consumer mix, including partnerships with GM and Apple This was the bank's attempt to target the so-called “mass affluent.” Goldman, however, wasn't very good at going downstream and its consumer business, by August 2022, was still operating at a loss. Later that year, Goldman stepped back from consumer banking and reorganized Goldman's response included combining asset and wealt
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News
- Goldman Sachs' break up with Apple could cost $500 million to $4 billion, says analyst [Yahoo! Finance]Yahoo! Finance
- Fed's big cut may have been closer call than lone dissent suggests [Yahoo! Finance Canada]Yahoo! Finance Canada
- Fed's big cut may have been closer call than lone dissent suggests [Yahoo! Finance]Yahoo! Finance
- Dow, S&P 500 End At Records As Market Digests Fed Rate Cut [Barron's]Barrons
- Private Credit Is Being Threatened by a Cocktail of Risks [BNN Bloomberg (Canada)]BNN Bloomberg
GS
Earnings
- 7/16/24 - Miss
GS
Sec Filings
- 9/19/24 - Form 424B2
- 9/19/24 - Form 424B2
- 9/19/24 - Form 424B2
- GS's page on the SEC website