Apple, Goldman Sachs Offer High-Yield Savings Account

The video discusses Apple's strategy to attract non-hardware users by offering financial services like the Apple Card, issued by Goldman Sachs. With a 4.15% yield, Apple aims to draw in new customers, potentially converting them into hardware users. The initiative, announced in October, is part of Apple's broader strategy to enhance its services sector and gather data from non-hardware users. The video also highlights the tension between Apple's and Goldman's offerings, as Apple's yield surpasses Goldman's Marcus platform.

What is the primary goal of Apple's strategy with the Apple Card?

• To increase hardware sales

• To attract non-hardware users into its ecosystem

• To compete with other banks

• To offer the highest interest rates in the market

Who issues the Apple Card?

• Chase

• Apple

• Bank of America

• Goldman Sachs

How does Apple plan to benefit in the long term from its financial services?

• By collecting data from non-hardware users

• By increasing the interest rates further

• By reducing hardware prices

• By partnering with more banks

What is a potential outcome of Apple's financial services strategy?

• Decreased interest in Apple products

• Increased competition with Goldman Sachs

• Conversion of non-hardware users to hardware customers

• Higher fees for Apple services

What tension exists between Apple and Goldman Sachs regarding the Apple Card?

• Apple offers a higher yield than Goldman's Marcus

• Goldman Sachs wants to end the partnership

• Apple is planning to become a bank

• Goldman Sachs is reducing its interest rates