Apple Pauses Development of Stock Trading App for iPhone As Market Volatility Rises

Apple and Goldman Sachs were developing a stock trading feature for iPhones in 2020-2021 when retail investing was surging.
The feature would have let iPhone users easily buy and sell stocks through their devices.
The project was put on hold in 2022 as the stock market declined and volatility increased.
Apple didn't want users losing money through a stock trading feature when markets were unstable.
The infrastructure for stock trading on iPhones is largely built should Apple decide to revive the project.

cnbc.com

Relevant topic timeline:

7/25/2023

How the Partnership Between Apple and Goldman Soured

- Apple and Goldman Sachs were conducting test runs before publicly launching their partnership. - Engineers from both companies were working overnight to find a solution to a problem where Tim Cook, Apple's CEO, couldn't get approved for an Apple Card. - The issue highlights the challenges faced by the companies in merging technology and finance. - The partnership between Apple and Goldman Sachs is considered one of the biggest collaborations between the tech and finance industries. - The article suggests that the incident may have been a result of the strict credit requirements set by Goldman Sachs for the Apple Card.

9/5/2023

A Bull Market Could Be Here: 2 Reasons to Buy Apple Stock

Apple shares have declined due to falling revenue in its product segments, but the company's long-term outlook remains strong, driven by its booming services business and dominant market shares, with two reasons to buy Apple stock being the upcoming iPhone launch and its potential in high-growth industries like AI and virtual/augmented reality.

9/7/2023

Nasdaq Futures Down 1% as Apple Leads Tech Rout: Markets Wrap

Big tech, including Apple, faced pressure as concerns grew over China potentially expanding its iPhone ban, while equity futures fell due to strong jobless claims figures, reinforcing the case for the Federal Reserve to maintain elevated interest rates.

9/7/2023

Apple Loses $200 Billion in Market Value over the Past Two Days

Tech giant Apple has lost $200 billion in market value over the past two days after China banned its government from using iPhones, resulting in a 3.4% drop in shares and making Apple one of the worst performers in the Dow Jones Industrial Average.

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Posted 9/20/2023, 12:20:01 PM

Apple Pauses Development of Stock Trading App for iPhone As Market Volatility Rises

Apple and Goldman Sachs were developing a stock trading feature for iPhones in 2020-2021 when retail investing was surging.
The feature would have let iPhone users easily buy and sell stocks through their devices.
The project was put on hold in 2022 as the stock market declined and volatility increased.
Apple didn't want users losing money through a stock trading feature when markets were unstable.
The infrastructure for stock trading on iPhones is largely built should Apple decide to revive the project.

cnbc.com

Relevant topic timeline:

7/25/2023

How the Partnership Between Apple and Goldman Soured

9/5/2023

A Bull Market Could Be Here: 2 Reasons to Buy Apple Stock

9/7/2023

Nasdaq Futures Down 1% as Apple Leads Tech Rout: Markets Wrap

9/7/2023

Apple Loses $200 Billion in Market Value over the Past Two Days