Goldman Sachs Group, Inc. (GS) is ending its partnership with Apple Inc. (AAPL) and transitioning the Apple Card program to JPMorgan (JPM). The move is expected to increase Goldman’s Q4 2025 EPS by 46 cents, with provisions for credit losses and associated expenses. The transition is set to take approximately 24 months.

Goldman CEO David Solomon stated the transaction aligns with the company’s focus on core businesses. This move follows Goldman’s strategic shift away from consumer banking, selling assets like the GM credit card business and GreenSky. The company aims to reallocate resources to higher-margin divisions like Global Banking and Markets.

Goldman’s stock has gained 70.3% in the past year, outperforming the industry average. With a forward P/E ratio of 16.88X, Goldman’s estimates for 2025 and 2026 show year-over-year growth. The company currently holds a Zacks Rank #3 (Hold) and is focusing on advancing its core franchises.

The next wave of AI innovation is set to revolutionize industries and create immense wealth for investors. Zacks’ AI Boom 2.0 report highlights four under-the-radar companies that could lead the charge in AI’s next leap forward. Investors can access the report for free to discover potential opportunities in this evolving landscape.

Read more at Nasdaq: Goldman Projects 46-Cent EPS Gain in Q4 From Apple Card Transition