Apple and Goldman Sachs Planned to Launch iPhone Stock Trading Feature Last Year

Apple and Goldman Sachs planned to launch a built-in stock trading feature for the iPhone last year, CNBC reports.

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According to three individuals familiar with the matter talking to CNBC, the feature would have served as a rival to trading apps like Robinhood, allowing users to buy and sell stocks directly from their ‌iPhone‌ in a convenient way. One ability apparently pitched by executives was the ability to invest in Apple shares using spare cash. The feature would have bolstered the collaboration between Apple and Goldman Sachs, which now includes Apple Card, Apple Pay Later, and Daily Cash Savings.

Work on the project reportedly began in 2020, when interest rates were low and there was record interest in trading shares. Apple developed the feature and planned to roll it out at some point in 2022. When markets worsened last year, Apple and Goldman Sachs shelved the project due to fears over backlash if users lost money in the stock market, and refocused attention on a high-interest savings account for ‌Apple Card‌ users.

The infrastructure for the investing feature is apparently mostly built and ready to launch if Apple eventually decides to proceed with it, but there are no immediate signs that it has plans to do so.

Top Rated Comments

vegetassj4 Avatar
8 months ago
Hey Siri: Sell 1000 shares of AAPL at $195
Siri: Sold 1000 shares AAPL for $195

todamoon ???????????? ???
Score: 16 Votes (Like | Disagree)
MrRom92 Avatar
8 months ago
I actually like the idea of this, a lot. There’s so much that can be done to lower the barrier to entry and simplify things so the average person can participate in the market as well. Yes, I know there are other apps for this, but I’m sure Apple would come up with something that only they could do.
Score: 13 Votes (Like | Disagree)
pbridge354 Avatar
8 months ago
Probably a good idea. Associating your brand with the volatility of equities trading is a recipe for disaster.
Score: 10 Votes (Like | Disagree)
haruhiko Avatar
8 months ago
They will surely start this service when the stock market hits the top?
Score: 8 Votes (Like | Disagree)
cocky jeremy Avatar
8 months ago
I'd be down for that. Instead of having Apple Cash on stuff I buy, just give me Apple stock.
Score: 7 Votes (Like | Disagree)
CarAnalogy Avatar
8 months ago
What is "spare cash"? Sounds like a clever move from Apple.

"Just let us hold any money you're not using. Not like a bank though."
Score: 6 Votes (Like | Disagree)

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