Goldman Sachs and Apple Explore Stock Trading Feature on iPhones
Reports suggest that Wall Street bank Goldman Sachs and tech giant Apple were considering the launch of a stock trading feature on iPhones. The feature would have allowed users to invest directly from their Apple devices. However, it is unclear how long it will take for this project to come to fruition.
The Bull Run Effect
In 2020, when the stock markets were experiencing a bull run amid the Covid-19 pandemic, Goldman Sachs and Apple began working on this idea. However, it is still unknown why the project did not progress as planned. Progress was being made until 2022, when the iPhone trading feature was tentatively scheduled for release. However, due to the slump in financial markets caused by rising inflation and high interest rates, the project was put on hold.
In a recent revelation, a source stated that the investing feature is ready for release if Apple decides to move forward with it. The original plan involved offering an option to buy Apple shares for those interested in investing their savings. Apple and Goldman Sachs have been offering credit card services since August 2019.
Elon Musk’s Vision For X As Financial Epicenter
In July 2023, Elon Musk announced the rebranding of Twitter to “X” and shared his vision of turning the platform into “The Everything App.” Musk aims to create an ecosystem on X that serves as a central hub for everything related to finance and stock markets.
Hot Take: Goldman Sachs and Apple Considered Stock Trading Feature on iPhones
Goldman Sachs and Apple reportedly explored the possibility of launching a stock trading feature on iPhones, allowing users to invest directly from their devices. The project began in 2020 during a bull run in the stock markets but faced delays and uncertainties. While progress was made, the slump in financial markets caused by inflation and high interest rates led to a pause in the project. However, sources suggest that the investing feature is ready for release if Apple decides to proceed. Additionally, Elon Musk’s vision for Twitter’s rebranding as “X” aims to establish it as a comprehensive platform for finance and stock market-related activities.
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