The novel coronavirus continues to hurt the U.S. economy, with unemployment about 13%. With so many out of work, or earning far less than they usually do, Apple and Goldman Sachs are offering to let people people struggling financially because of the COVID-19 pandemic skip their July Apple Card payment without being hit with interest fees.
Apple and Goldman Sachs are reportedly giving a second chance to people whose Apple Card applications were rejected. The “Path to Apple Card” program explains why they were denied, and gives users a chance to fix the problems.
Apple and Goldman Sachs might cut you some slack on your credit card bill if you lost your job during the COVID-19 pandemic. Users of the Apple Card were notified today that they can apply to skip their May payment without interest charges being added.
Goldman Sachs may be Apple’s partner in Apple Card, but that doesn’t mean that its equity research division is a cheerleader for Apple in everything it does. In fact, the firm just cut its price target on Apple from $250 down to $233, and recommends that clients sell their Apple shares.
This is the third time that Goldman has downgraded its Apple earnings estimate since February 17. Analysts led by Goldman tech analyst Rod Hall think that Apple is headed for a reduction in iPhone demand this year. That’s likely to be followed by a shallower recovery headed into 2021.