JPMorgan Chase is in negotiations to take over Apple's credit card venture from Goldman Sachs after the tech frim made a push to cut its ties with the New York bank last year
Apple, Inc. AAPL shares have barely budged to the Glowtime hardware launch event held on Sept. 9, and a portfolio manager on Tuesday offered “Mea Culpa” for his short-term stance on the stock.
Mirroring Buffett's investment activity -- he's led Berkshire's Class A shares (BRK.A) to an aggregate gain of over 5,400,000% -- has been a profitable venture for over a half-century. Portfolio concentration has played a key role in Berkshire Hathaway's success.
JPMorgan Chase is in talks to take over the Apple Card business from Goldman Sachs, the Wall Street Journal reports.
Apple is in discussions with JPMorgan Chase for the bank to take over the tech giant's flagship credit card program from Goldman Sachs, a person with knowledge of the negotiations said. The discussions are still early and could falter, and key elements of a deal — such as price and whether JPMorgan would continue certain features of the Apple Card — are yet to be decided, said the person, who declined to be identified.
Key details, including price, are still to be negotiated, according to the report.
JPMorgan Chase is talking with Apple about taking over the tech giant's credit-card program from Goldman Sachs , the Wall Street Journal reported on Tuesday.
If a market is trending lower, it is out of equilibrium. There aren't enough buy orders to absorb all of the sell orders.
JPMorgan Chase JPM 0.51%increase; green up pointing triangle is talking with Apple AAPL -0.15%decrease; red down pointing triangle about taking over the tech company's credit-card program.
To get the latest market news check out finance.yahoo.com Stocks traded mixed on Monday, with tech names struggling ahead of a crucial week dominated by expectations for the Federal Reserve's first interest-rate cut in four years. The tech-heavy Nasdaq Composite (^IXIC) fell about 0.5%.
Apple's stock is in a tricky spot. There are multiple avenues for management to re-ignite growth after a long period of stagnation, but the valuation reflects this fact. iPhone pricing, services pricing, and the potential to collect AI 'toll booth' fees should drive financials up and to the right over the medium term. The valuation, at 9x sales, is at record highs, and buying here appears very risky.
While the rest of the market has been ticking higher over the past few weeks, shares of Apple Inc. NASDAQ: AAPL are still under pressure. They managed to rally hard throughout August, undoing most of the damage from the market-wide selloff that took them down 17% at the start of the month, but crucially, they didn't get back to their previous high.