JPMorgan Acquires Apple Credit Card Business from Goldman Sachs for Over $20 Billion
- Transaction Completion: JPMorgan will acquire the Apple credit card business for over $20 billion, marking the end of Goldman Sachs' consumer banking experiment that began in 2019, with the deal expected to close in approximately 24 months, further solidifying JPMorgan's leadership in the credit card market.
- Financial Impact: The transaction will require JPMorgan to book a $2.2 billion provision for credit losses in its fourth-quarter earnings; however, the acquisition comes at a discount exceeding $1 billion, showcasing JPMorgan's strategic flexibility in asset acquisition.
- Customer Retention: Customers will retain existing card benefits, and the product will continue to operate on the Mastercard network, which not only helps maintain customer loyalty but also enhances JPMorgan's competitive position in the consumer finance sector.
- Strategic Shift: Goldman Sachs expects a 46-cent per share earnings boost from this transaction, marking the completion of CEO David Solomon's strategic withdrawal from consumer finance that began in 2022, reflecting a renewed focus on core business operations.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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