Apple (NASDAQ:AAPL) announced a new high-yield savings account in partnership with Goldman Sachs for Apple Card holders. Users can transfer cashback rewards from Apple Card purchases and also add additional funds to the account.
Apple has been increasingly pushing into the personal finance space, with Apple Pay, Apple Card and the recently launched buy now pay later offering. Savings accounts look like a logical extension, especially given the rising interest rate environment.
We remain positive on Apple stock, with a $175 price estimate, which is about 25% ahead of the current market price.
|S&P 500 Return||0%||-25%||60%|
|Trefis Multi-Strategy Portfolio||-2%||-28%||187%|
 Month-to-date and year-to-date as of 10/16/2022
 Cumulative total returns since the end of 2016