Goldman Sachs is reportedly acquiring the Apple Card portfolio, with Wells Fargo analysts assessing the potential network switch involving Visa and Mastercard.
2 reports, 2 independent
Updated Aug 20
Gone quiet
Reached 2 outlets in its first 24 hours
- Reports
- 2
- Developments
- 2
- Repetition
- 50%
New informationRepeats or wire copies
AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Goldman Sachs is reportedly acquiring the Apple Card portfolio, with Wells Fargo analysts assessing the potential network switch involving Visa and Mastercard.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Goldman Sachs is ending its consumer banking partnership with Apple Inc., while both firms are noted as major investment banking peers.Sub-event
GS reportedly acquiring Apple Card portfolio; potential network switch assessed by Wells Fargo.1 source
Keep exploring
The entities involved
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Goldman Sachs
American investment bank
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Apple Inc.
American multinational technology company based in Cupertino, California
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Visa Inc.
American multinational financial services corporation
Related events
- Visa was rumored to acquire Fireblocks, and both companies released new AI and blockchain products.
- Bill Ackman views Visa as high-quality business and added Netflix to his fund portfolio, while ICE operates and owns the NYSE.
- Multiple financial institutions issued rating changes and price targets across various sectors, including tech, industrial, and hospitality.
- Goldman Sachs transitioned the General Motors credit card program, while both institutions compete in global finance.
- The Competition and Markets Authority (CMA) has proposed measures to open the market and loosen Apple's grip on contactless payments.
Coverage
Newest first; wire copies grouped- Investing.comWhat happens if JPM buys Apple Card from Goldman Investing.com -- JPMorgan (NYSE:JPM) could regain the top spot in U.S. credit cards if it acquires Goldman Sachs’ Apple Card portfolio, a potential $1
- Simply Wall St.Synchrony Financial (SYF) Eyes Apple Card Opportunity Amid Competitive US$21 Billion Portfolio Talks Amidst speculation about Apple potentially selling its credit card portfolio, Synchrony Financial