SUMMARY
- Apple and Goldman Sachs contemplated a user-friendly stock trading feature in 2020.
- Market unpredictability shifted the focus towards more stable financial products like savings accounts.
- The future of this trading tool remains uncertain, despite a near-complete infrastructure.
As 2020 saw stocks flying high, Apple and Goldman Sachs silently brainstormed a consumer-centric stock trading feature, insiders reveal.
However, as market tides turned treacherous, the plan was pushed to the backburner. Apple, which already paired up with Goldman Sachs to launch financial amenities like credit cards and loans, was tapping into the frenzy of home-bound individuals engaging more in stock trading, thanks to zero-interest rates during the pandemic.
The envisioned feature could have allowed iPhone aficionados to invest spare change in Apple shares. Yet, concerns grew about potential user losses due to market volatility, pivoting their focus towards savings accounts.
With Goldman Sachs' CEO rolling back on consumer services, it remains uncertain whether this trading feature will see the light of day, despite its foundation being nearly set.
WOM Money Picks
Be a part of the winning team | 81% Success Rate.