Big tech firm Apple Inc. (NASDAQ:AAPL) is soon going to let Apple Card holders deposit cash into a savings account via a partnership with financial conglomerate Goldman Sachs (NYSE:GS). The savings account will offer high yields for the cash balances. The account will come with a host of benefits, including no fees, no minimum deposits, or cash balance requirements.
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Furthermore, Apple Card holders will be able to grow their Daily Cash rewards in the savings account by directly having them deposited into the Wallet. Users can also withdraw and deposit funds from other linked bank accounts. Notably, once a savings account is set up, Apple cardholders can use the balance to make payments, transfer funds, and save Daily Cash in their Wallet.
Commenting on the launch, Jennifer Bailey, Apple’s VP of Apple Pay and Apple Wallet said, “Savings delivers even more value to users’ favorite Apple Card benefit — Daily Cash — while offering another easy-to-use tool designed to help users lead healthier financial lives.”
What is a Good Buy Price for AAPL?
Currently, AAPL stock is trading at a 22% discount from its 52-week high of $182.94. Investors may buy the stock at current lows and take advantage of the upswing expected after its fourth-quarter results set for October 27.
With 23 Buys, four Holds, and one Sell rating, Apple stock commands a Strong Buy consensus rating. On TipRanks, the average Apple price forecast of $182.04 implies 27.3% upside potential to current levels. Meanwhile, the stock has lost 21.1% so far this year.
