The Troubled Apple-Goldman Sachs Partnership: A Potential Breakup Looms

The partnership between Apple and Goldman Sachs, which began in 2019 with the launch of Apple Card, has become increasingly strained. Goldman Sachs is reportedly looking to end the partnership and is in talks with American Express to take over the Apple credit card and other ventures. The relationship has faced challenges, including allegations of gender bias in credit limit determinations and regulatory investigations. Goldman Sachs has struggled to manage the rapid growth of Apple Card and has incurred significant losses. Meanwhile, Apple is ramping up its in-house personal finance efforts to reduce reliance on third parties. The future of the partnership remains uncertain, with two possible outcomes: Apple and Goldman Sachs make changes to make the partnership sustainable, or Apple lets Goldman Sachs out of the agreement and forms a new partnership with another company.