JPMorgan Acquires Apple Card Portfolio from Goldman Sachs for Over $20 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 07 2026
0mins
Should l Buy GS?
Source: CNBC
- Massive Transaction: JPMorgan has reached an agreement to acquire approximately $20 billion in Apple Card loans from Goldman Sachs, which will further solidify its position as the largest credit card issuer in the U.S., significantly enhancing its market share.
- Strategic Shift: This deal allows Goldman to move past a challenging phase since it began pivoting away from consumer finance in 2022, while providing JPMorgan with a closer partnership with tech giant Apple, thereby strengthening its competitive edge in the fintech space.
- Risk Management Challenges: JPMorgan is acquiring the portfolio at a discount of over $1 billion due to its higher proportion of subprime and lower-credit borrowers, which presents new challenges for its risk management strategies and could impact overall asset quality.
- Service Expansion Plans: JPMorgan plans to offer an Apple savings account as part of a bundled financial service with Apple, which not only enriches its product offerings but may also attract more Apple users, thereby increasing customer loyalty.
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Analyst Views on GS
Wall Street analysts forecast GS stock price to rise
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 904.550
Low
604.00
Averages
951.45
High
1100
Current: 904.550
Low
604.00
Averages
951.45
High
1100
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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