Apple Card beta opens to thousands of retail workers

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Apple Card
By design, Apple Card helps customers understand and track their spending.
Photo: Apple

Apple is rapidly expanding the beta program of its credit card by letting thousands of its retail employees test it out.

With a public launch slated for later this summer, Apple is reportedly working out the final kinks with an internal group so it can launch on time this summer.

Goldman Sachs CEO says he’s already using Apple Card

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Apple Card
Are you excited about Apple Card?
Photo: Apple

The Apple Card hasn’t publicly launched yet, but employees at both Apple and its partner Goldman Sachs are already publicly testing out the credit card.

In an interview at Recode’s Code Conference, Goldman Sachs CEO David Solomon talked about his experience of using the joint credit card. Perhaps unsurprisingly, he really, really likes it.

Goldman Sachs isn’t worried about lack of profitability for Apple Card

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Apple Card
Apple Card will launch this summer.
Photo: Apple

Apple Card partner Goldman Sachs is taking a very Apple approach to making money from the venture, by pushing customer loyalty over squeezing out as much profitability as possible.

At an “IGNITION: Transforming Finance” event on Monday, Omer Ismail, who heads up Goldman’s Marcus division, talked Apple Card. Ismail also explained why he’s not worried about a potential lack of profit.

Citigroup reportedly pulled out on Apple Card deal

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Apple Card
Apple Card might be the most consumer-friendly credit card ever.
Photo: Apple

One of Goldman Sachs’ biggest rivals pulled out on a deal that would have made it the bank backing Apple Card.

Citigroup reportedly was in advanced negotiations with Apple but pulled out of the Apple Card deal due to doubts that it will be profitable.

Apple Card’s colorful packaging revealed ahead of launch

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Apple Card packaging
Here’s how Apple Card will be presented to consumers.
Photo: Ben Geskin

New photos reveal how Apple Card will be presented to consumers when it starts reaching early adopters this summer.

It’s the first time we’ve seen the titanium Card’s fancy packaging since it was announced back in March. It is said to be in beta testing with Apple employees ahead of its launch.

Goldman Sachs eyes new markets for Apple Card

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Apple Card
Apple Card won’t always be exclusive to the U.S.
Photo: Apple

Apple Card may be exclusive to the U.S. for now, but Goldman Sachs hints that won’t always be the case.

Apple’s partner says it will be looking at plans to bring Apple Card to other markets in the future. Goldman CEO Richard Gnodde expects the card to take off quickly over the summer.

These are the ‘low rates’ currently available for Apple Card

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Apple Card
Apple Card sounds awesome. But read the small print.
Photo: Apple

Against all odds, Apple’s introduction of its “Apple Card” credit card managed to outshine Hollywood’s finest stars at yesterday’s keynote event. Among the card’s nifty features, Apple promised an interest rate among the lowest in the industry.

But is it? Details on the new Apple Card website include the “lower interest rates” in their footnotes. And while they’re certainly not excessive, they’re also not quite as low as you might think.

Apple may launch its own credit card this spring

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money
Apple could team up with Goldman Sachs for the launch.
Photo: Ste Smith/Cult of Mac

Apple and Goldman Sachs are teaming up to create a joint credit card, according to a new report. The card may offer savings to Apple customers, in addition to making it easier for them to keep tabs on spending.

The Wall Street Journal claims that Apple be using the MasterCard payment network for its endeavor. It is rumored to be rolling out as soon as this spring.

Goldman Sachs thinks Apple could be the next Nokia

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Nokia
Nokia could have more in common with Apple than first though.
Photo: Nokia

A Goldman Sachs analyst thinks Apple’s revised earnings guidance might be the start of a longer-term story. According to Rod Hall, Apple could slash numbers even further later in the year, due to lowered expectations about iPhone sales.

Hall goes on to liken Apple to Nokia, a fallen giant in the mobile game. The company ruled the market early on, only to run into problems.

Goldman Sachs worries that iPhone demand is ‘deteriorating’

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iPhone XS Max
Apple's new iPhones are great. But are they the money-spinners Apple is hoping for?
Photo: Ed Hardy/Cult of Mac

Goldman Sachs has added its name to the list of financial institutions worried about stagnating iPhone sales.

“We are concerned that end demand for new iPhone models is deteriorating,” Goldman Sachs wrote in a new note to clients. The firm estimates that Apple will produce 6 percent fewer iPhones next year than it did in the year previous. However, the big investment banking company admits it could be jumping the gun.