Goldman Sachs and Apple – A Fiery End?

<p>Apple's collaboration with Goldman Sachs isn't turning out to be the
sweet duet they'd hoped for. While the partnership with the tech giant has
generated an Apple credit card and savings accounts, it appears that at least
one Goldman Sachs partner is now having serious regrets. The Wall Street
Journal's latest revelations suggest that the deal is far from harmonious and
Goldman Sachs may be seeking a way out.</p><p>Apple and Goldman Sachs: It’s Turning Sour</p><p><a href="https://www.financemagnates.com/tag/apple/" target="_blank" rel="follow">Apple</a> and <a href="https://www.financemagnates.com/tag/goldman-sachs/" target="_blank" rel="follow">Goldman Sachs</a> have been publicly celebrating their <a href="https://www.apple.com/financing/">consumer-lending services</a> success,
but not all seems to be well behind the scenes. An unnamed Goldman Sachs
partner allegedly dropped an expletive-laden bomb, regretting the partnership,
saying, "We should have never done this f—ing thing," according to a <a href="https://www.wsj.com/finance/goldman-sachs-wants-out-of-consumer-lending-employees-say-it-cant-happen-fast-enough-17e98a30">report
from the Wall Street Journal</a>. It appears that after the initial enthusiasm,
some at the bank now believe it was a costly mistake.</p><blockquote><p lang="en" dir="ltr">A Goldman partner reportedly blasted Apple's savings accounts as a mistake: 'We should have never done this f—ing thing' <a href="https://t.co/twB8F6HXQ1">https://t.co/twB8F6HXQ1</a></p>— Insider Business (@BusinessInsider) <a href="https://twitter.com/BusinessInsider/status/1714176054724571459?ref_src=twsrc%5Etfw">October 17, 2023</a></blockquote><p>The partnership between Apple and Goldman Sachs has produced a variety
of consumer services, including Apple's savings accounts, a <a href="https://www.financemagnates.com/fintech/education-centre/big-tech-companies-making-their-impact-felt-on-the-financial-industry/" target="_blank" rel="follow">credit card</a>, and a
<a href="https://www.financemagnates.com/fintech/apple-introduces-apple-pay-later-to-us-market/" target="_blank" rel="follow">buy-now, pay-later service</a>. Despite the outward appearance of success, some
insiders at Goldman Sachs seem to be in tune with the unnamed partner's
sentiments, suggesting that the arrangement might not be such a great idea.</p><p>The Rumblings Continue</p><p>This isn't the first time discordant notes have emerged. In July,
rumors were swirling about <a href="https://www.patentlyapple.com/2023/07/goldman-sachs-in-reportedly-in-early-talks-to-offload-apple-card-and-savings-products-to-american-express.html">Goldman
Sachs possibly parting ways with Apple</a>, with American Express as a
potential suitor. But despite the murmurs, neither company has officially
changed their tune on the matter.</p><p>Apple and Goldman Sachs have yet to issue a response to this latest
development, but the sour notes surrounding their partnership continue to linger.</p><p>Pressure on the Goldman Sachs leadership is growing with the bank
reporting its worst earnings in years last quarter. </p><p>Goldman Sachs reports its third-quarter earnings on Tuesday, keep your
eyes peeled. </p>

This article was written by Louis Parks at www.financemagnates.com.