Goldman Sachs to issue $10 billion in credit lines for Apple Card customers
In the recent regulatory fillings from Goldman Sachs, the bank has indicated that it has extended $10 billion in credit lines for the Apple Card customers. According to Bloomberg, "The credit card is part of Goldman’s recent foray to turn its attention to Main Street consumers after more than a century of catering to large corporations and big investors." According to Goldman Sachs CEO, "Apple card is the most successful card ever launch".
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Apple lost $180 billion in market value in just one day
This year Apple became the first American company to reach a market cap of $2 trillion. Yesterday, Apple captured another record, this time for its falling share price which amounted to the biggest market cap drop for a U.S. listed company ever. The stock lost over $179.92 billion in market value. That drop is larger than the individual market caps of 470 of the S&P's 500 companies.
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FoxNews
Apple reports a 225% growth in iPhone sales in China
Apple became the fastest-growing smartphone maker in China in the second quarter. The cheaper iPhone SE and the popularity of the iPhone 11 series, along with deep discounts, helped Apple get a boost. The sell-through volume for iPhones in China was 7.4 million units in the April to June quarter, a 32% growth year-on-year, according to Counterpoint Research. On a quarter-on-quarter basis, iPhone sales jumped 225%
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CNBC
Walmart, CVS, Target and Apple to close some stores amid protests
U.S. retailers large and small have closed some of their stores across the country because of disruptions caused by the widespread street protests over the police killing of George Floyd in Minneapolis. Target, CVS, Apple and Walmart all said Sunday that they had temporarily closed some locations for safety reasons.
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Fox6now
Dow Jones plunges again
Dow Jones plunges again
Stocks in US markets today continued to plunge due to the coronavirus crisis coupled with the Saudi-Russian oil price war, with the Dow Jones industrial average dipped below the 22,000 level after suffering its worst first quarter in the institution's entire 135-year history. Major financial institutions like Goldman Sachs and JP Morgan predict an unprecedented first-quarter contraction in the US economy of between 25 to 34 percent.
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BusinessInsider