Goldman Sachs in talks with Apple to finance iPhone purchases

Goldman Sachs is reportedly in talks with Apple (NASDAQ:AAPL) to finance iPhone purchases. According to Seeking Alphabuyers would theoretically borrow from Goldman at a cheaper interest rate than the typical credit card might charge. The bank's Marcus platform on average charges 12%.

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Consumers borrowed more than $200 billion last year in point-of-sale loans, according to one consulting firm, with about $80B going toward big-ticket items. Goldman would like a piece of that, and a partnership with Apple “would be quite the coup,” says Seeking Alpha.

The Goldman Sachs Group is an American multinational finance company that engages in global investment banking, investment management, securities, and other financial services, including asset management, mergers and acquisitions advice, prime brokerage, and securities underwriting services. It also sponsors private equity funds, is a market maker, and is a primary dealer in the United States Treasury security market.