Apple may finally be admitting it made a big mistake with the Apple Card

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Apple and Goldman Sachs  (GS)  launched their game-changing partnership, the Apple Card, in 2019. At launch, the Apple Card featured perks like daily cashback, no fees, tightened privacy and security. 
That partnership was expanded earlier this year when the companies unveiled a high-yield savings account that offers 4.15% APY. 

But that partnership between two seemingly mismatched bedfellows seems to be coming to an end.
 
Apple has given Goldman a proposal to end its credit card and savings account partnership within the next 12 to 15 months, CNBC reported, citing a person familiar with the discussions. 

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According to the Wall Street Journal, both Apple Card and the Apple Savings accounts are underperforming, and Goldman Sachs executives are itching to axe the bank’s partnership with Apple. Goldman Sachs has faced numerous headwinds since the card was launched. The investment banking giant lost over $1.2 billion in 2022, with many of the losses tied to its Apple Card unit. 

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