In any business, there are ups and downs. As you’d expect, the ups and downs in the world of Apple can be quite significant.
(It’s just a theme to bring together two mostly unrelated stories, folks. Don’t think too hard about it.)
Luckily for Apple, the bottom here is actually for another company, but it’s a whopper.
“Goldman is looking for a way out of its partnership with Apple”
Didn’t they read the fine print on the credit agreement?
It comes after reports that Goldman Sachs lost billions in the relationship. Macalope doesn’t know about you, but when he gets into deals that cost him billions of dollars, he looks at those bad deals and tries to get out of them. Moreover, he tries not to make similar deals in the future.
It’s just him though. And, uh, Goldman Sachs, apparently. You can’t really blame them for trying to evade the case. The company is reportedly looking to American Express to take over all of its credit card business, although a deal has yet to be struck.
Seems to be a bit of a hard sell. “Heyyy, mate. Interested in picking up on that Apple Card thing? Good deal. No, really… uh… really good deal. Marry I adore to keep doing it but…so busy with the other stuff. Well Macalope wishes them both good luck in this billion dollar hot potato game.
IDG
The only company Apple Card has been really good for is… anyone? Yes, it’s Apple. Since its introduction, the Apple Card has become a significant contributor to Apple’s service revenue.
With bottoms like this, who needs tops? Well, not Apple, but here it is anyway.
“Apple’s market valuation returns to $3 trillion after almost 18 months”
So what? If you are an Apple customer, this does not affect you at all. It doesn’t change the quality of Apple products, it doesn’t change the user experience, and it doesn’t make Craig Federighi’s hair look fuller and shinier.
It’s just genetics. You can’t do anything about it.
Now, if you’re an Apple employee with stock options (or an Apple investor), that matters, and maybe part of that comes down to better products. (Still no hair, though.) But that’s not an easy relationship to calculate.
So, no big deal, right? Of course. However, if you’re a long-time Apple watcher like Macalope, it’s amusing to watch the company become the most valuable in the world when we’ve been told for the better part of two decades or more that it was minutes away from leaving out of business. It wasn’t an unreasonable thing to say in the mid-1990s, but experts have clung to the notion for far longer than seemed possible given the assumption that all human beings function with at least some understanding. basics of logic. “Are these people serious? we wondered in the early 2000s. “How do these people dress?” we thought around 2008. we shouted around 2016.
Once Apple passed $1 trillion in valuation, things started to change. The very idea that he might go bankrupt was becoming less and less public. When it got past $2 trillion, you had to sell a book or something and try to get some attention. Now that it’s back to $3 trillion, don’t expect to see it float much, if at all.
So maybe as an Apple customer there is a benefit after all.
(Correction: an earlier version of this article referred to Apple Pay instead of Apple Card. Macalope regrets the error.)
