The Apple Card is the gift that keeps on giving — and not in a good way — for Goldman Sachs, contributing to a $667 million Q2 loss.
It’s no secret that the Apple Card has been a costly endeavor for the financial institution. It would seem those losses show no sign of slowing, however, with 9to5Mac reporting that the Apple Card made up a sizeable chunk of the bank’s most recent losses.
The outlet also estimates that the Apple Card has cost Goldman Sachs a total of $1-3 billion since 2020.