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.

aapl logo banner
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
11 weeks 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
11 weeks 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
11 weeks 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
11 weeks ago
They will surely start this service when the stock market hits the top?
Score: 8 Votes (Like | Disagree)
cocky jeremy Avatar
11 weeks 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
11 weeks 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)

Popular Stories

iOS 17

iOS 17.2 Will Add These 12 New Features to Your iPhone

Friday December 1, 2023 12:19 pm PST by
iOS 17.2 has been in beta testing for over a month, and it should be released to all users in a few more weeks. The software update includes many new features and changes for iPhones, including the dozen that we have highlighted below. iOS 17.2 is expected to be released to the public in mid-December. To learn about even more features coming in the update, check out our full list. Journal ...
iOS 17

28 New Things Your iPhone Can Do in December's iOS 17.2 Update

Friday December 1, 2023 2:57 am PST by
Apple made the first beta of iOS 17.2 available to developers in October. Since then we've seen three more betas, and with each iteration Apple continues to add more new features and changes, many of which users have been anticipating for quite a while. Below, we've listed 28 new things that are coming to your iPhone when the finalized version is publicly released this December. 1. Help...
anker new xmas

Anker's Cyber Week Sale Enters Final Days With Up to 60% Off Sitewide

Friday December 1, 2023 12:05 pm PST by
Anker's Black Friday/Cyber Week event is entering its final days this weekend, and it's still offering up to 60 percent off sitewide. There are also a few "mystery boxes" that can include hundreds of dollars in savings, if you're willing to risk not knowing what you're buying ahead of time. All of these sales will end on December 3. Note: MacRumors is an affiliate partner with Anker. When you...
iOS 17

Apple Releases iOS 17.1.2 With Security Fixes

Thursday November 30, 2023 10:12 am PST by
Apple today released iOS 17.1.2 and iPadOS 17.1.2, small updates to the iOS 17 and iPadOS 17 operating systems that Apple introduced in September. iOS 17.1.2 and iPadOS 17.1.2 come a few weeks after the release of iOS 17.1.1, another bug fix update. iOS 17.1.2 and iPadOS 17.1.2 can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update....
iPhone 16 Mock Header Updated 1

iPhone 16 to Include Action Button Across Entire Lineup

Thursday November 30, 2023 4:08 pm PST by
The release of the iPhone 15 Pro and Pro Max saw the introduction of an entirely new user-configurable button known as the Action button, and now, MacRumors has seen extensive evidence confirming Apple is planning to include the Action button on the entire iPhone 16 range. Designs and plans for the Action button date back to at least 2021, as the button was intended for release alongside hapt...
General Apps Messages

Green Bubbles on iPhone to Gain These 7 New Features Next Year

Thursday November 30, 2023 9:00 am PST by
Earlier this month, Apple announced that it will finally support RCS in the Messages app on the iPhone starting later next year. This change will result in several improvements to the messaging experience between iPhones and Android devices. RCS will become the new default standard for messaging between iPhones and Android devices, but these conversations will still have green bubbles like...
top stories 2dec2023

Top Stories: iOS 17.1.2 Released, NameDrop Misinformation, and More

Saturday December 2, 2023 6:00 am PST by
Apple employees are back to work following a Thanksgiving break, and that means this week saw a number of new operating system updates for both public release and beta testing. This week also saw some misinformation about Apple's new NameDrop feature making the rounds, while Apple and Goldman Sachs appear to be on the verge of a break-up in their Apple Card and savings account partnership,...
paramount plus logo

Apple and Paramount Considering Discounted TV+ Streaming Bundle

Friday December 1, 2023 4:40 am PST by
Apple and Paramount have discussed bundling their TV streaming services at a discount, according to a new report by The Wall Street Journal. The companies have talked about offering a combination of Paramount+ and Apple TV+ that would cost less than subscribing to both services separately, according to people familiar with the discussions. The discussions are in their early stages, and it is ...