Apple is a multifunctional company. It manufactures phones, computers, tablets, headphones, smart watches, provides services and much more. Some time ago the company announced the Apple Card, and now it has taken it a step further and a few days ago it launched its first savings account.
Apple looks more and more like a bank. Not only does he have his own credit card and savings account, but in just four days, customers have deposited over $1 billion in their accounts. This is an impressive figure, but given the conditions offered (4.15%), it was to be expected.
Apple’s next step in banking
Those in Cupertino are joining forces with financial entities of the stature of Goldman Sachs to redefine their future. A few years ago, no one would have thought of seeing Apple as a bank, however today is about to become aif it hasn’t already been done.
As we have already seen, it offers its own card and its own savings account. It is true that it lacks many essential features for a bank, and is currently only available in the United States, but it is on this path. In the same way as five years ago, nobody imagined this, It is possible that now we cannot even imagine what will happen in five years
Apple has too much money in the bank. Money that just burns month after month with inflation. If we say money is worth 5% less, which doesn’t sound like much, but we have $200 billion in the bank, we are losing $10 billion in purchasing power. Therefore, Apple wants to start moving that money around.
Switching to a banking model is not a bad idea. With it, you can get your money flowing and It’s good to prevent inflation from affecting you. Interestingly, this promotes inflation. So, on the one hand, moving the money helps not to suffer from inflation, but at the same time it increases it. The paradox is curious.
Either way, it looks like this new Apple trying to enter the dangerous world of finance is here to stay. He’s already dispatched his first interest, and it seems like this is just the beginning of a future we’re not yet able to imagine, and which we are probably not ready for yet.
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