- Apple is reportedly considering an early termination of its partnership with Goldman Sachs.
- Apple’s stock has demonstrated remarkable resilience, recovering from the October low with a swift 14% rise.
Apple Inc (NASDAQ:AAPL) is rumored to be contemplating ending its partnership with Goldman Sachs regarding their joint credit card and savings account venture.
The partnership, initially met with optimism, has faced difficulties. A major issue has been the marketing strategy for the card’s security features.
Apple wanted to present the card as the most secure credit card ever, but Goldman Sachs had reservations due to legal concerns.
Apple’s stock has been facing challenges lately, experiencing a downturn since the Thanksgiving holidays.
Despite efforts to regain momentum, the stock price remains stagnant, hovering around the September 5th high of $189.
This level currently acts as a support, but if the weakness persists, there is a potential for a drop to the next significant support level at $182, corresponding to the high from January 2022.
Apple’s stock had displayed impressive resilience prior to the recent decline. After hitting a low point in October, the stock quickly rebounded, soaring by 14% in a matter of weeks.
The recent surge in stock may experience a brief interruption, but for it to surpass its previous peak, a strong rebound from its current support levels will be required.
This would allow the stock to surpass key resistance levels and potentially achieve new record highs.
Investors should closely monitor the stock’s development, as surpassing the all-time high would indicate favorable buying opportunities.
After the closing bell on Wednesday, November 29, the stock closed at $189.37, trading down by 0.54%.
