Apple was reportedly exploring the launch of a stock-trading feature for its iPhone in partnership with Goldman Sachs. However, the plan was put on hold as markets slumped, according to three sources familiar with the matter. The proposed feature would have allowed users to buy and sell stocks directly through their iPhones, expanding Apple’s suite of financial products powered by Goldman Sachs. The two companies had previously collaborated on offerings such as a credit card, buy now, pay later loans, and a high-yield savings account. Apple’s decision to pause the plan was influenced by concerns over market volatility and the potential user backlash if people lost money in the stock market using an Apple product. Instead, the focus shifted to launching high-yield savings accounts. The status of the stock-trading project remains unclear, following Goldman Sachs’ decision to retrench from most of its consumer efforts. However, the infrastructure for the feature is reportedly mostly built and ready to go should Apple decide to move forward with it in the future.
Apple, Goldman Sachs were planning a stock-trading feature for iPhones