Goldman Sachs CEO Hints at Potential End to Apple Card Partnership Before 2030

Goldman Sachs CEO David Solomon indicated that the company’s credit-card partnership with Apple, currently set to run through 2030, might not last until the end of the contract. During an earnings call on Wednesday, Solomon noted that while there is an agreement in place, the partnership could end before 2030. He mentioned that the Apple Card has negatively impacted Goldman’s return on equity, with a decline of 75 to 100 basis points last year. However, Solomon expects this impact to improve by 2025 and 2026.

The business, which falls under Goldman’s platform solutions unit, reported an $859 million annual net loss in 2024. Reports also suggest that JPMorgan Chase is in discussions with Apple to potentially replace Goldman Sachs as the tech giant’s credit-card partner.