“Apple Card is coming this summer, and we expect the new credit card from Apple to be supported in iOS 12.4. Apple hasn’t been more specific about the exact launch date for US customers, but the company has been releasing developer beta versions of iOS 12.4 without Apple Card included for several weeks.”
Goldman Sachs has burned through considerable amounts of money on Apple Card and its other consumer-facing initiatives, with the investment bank revealing it has spent around $275 million in 2019 alone on public-based projects….
…According to second-quarter earnings released on Tuesday, CNBC reports Goldman Sachs has spent in the region of $1.3 billion on its consumer services, including Apple Card, the Marcus savings accounts, and other initiatives. For 2019 so far, $275 million has been spent, which has resulted in a 0.6% reduction of Goldman’s equity return.
…“There’s no denying the consumer business – whether Apple Card or Marcus – is a risk business,” CFO Stephen Scherr admitted.
MacDailyNews Take: Apple Card is going to change the financial industry.