Data dive apple, uber and goldman sachs

The transition, which has reportedly been code-named Kalamata, remains in its infancy – though the broad stroke is said to have been approved by Apple’s executive leadership. The goal is to bring all Apple products into alignment in an attempt to make them work more smoothly, similarly and seamlessly in tandem.

If it actually comes to fruition, the loss of Apple could take a fairly big bite out of Intel’s bottom line, as Apple currently represents roughly 5 percent of its annual revenue. The announcement that Apple was considering going its own way, chip wise, was enough to send Intel shares tumbling 6.1 percent early last week, despite Apple neither confirming nor denying the rumor.

“While it’s possible that Apple may replace Intel in some of its lower-end product lines, we think it will be difficult for Apple to completely replace Intel by 2020, especially on its higher-end offerings,” said Summit Insights Group analyst Kin Ngai Chan.

“We think that Apple is looking at ways to further integrate their hardware and software platforms, and they’ve clearly made some moves in this space, trying to integrate iOS and macOS,” said Shannon Cross, an analyst at Cross Research. “It makes sense that they’re going in this direction. If you look at incremental R&D spend, it’s gone into ways to try to vertically integrate their components so they can add more functionality for competitive differentiation.”

Uber last week officially announced the launch of its Uber Visa debit card from GoBank – a product designed exclusively for drivers and delivery partners. The card offers users no minimum balance requirement, no overdraft fees and no monthly or annual fees, along with rewards for everyday spending on gas and groceries.

According to reports, those rewards will allow Uber drivers to opt-in for exclusive discounts or cash back, depending on where and how the card is used. For example, drivers who get gas at an ExxonMobil station can look forward to 3 percent cash back if they use their PIN at the pump. Drivers also get 1.5 percent cash back at all other gas stations and 2 percent cash back at Walmart for in-store and online purchases.

Discounts also include 15 percent off select automotive maintenance services at Jiffy Lube, 10 percent cash back for auto part purchases at Advance Auto Parts and participating Carquest Auto Parts locations and 8 percent cash back when they use the card to pay their monthly Sprint bill or make purchases in Sprint stores.

“People tell us they drive with Uber to earn on their own terms. The Uber Visa debit card and checking account offers a simplified banking solution that helps people who partner with Uber keep more of what they earn and earn more for what they spend — on and off the road,” Uber said of the payment card release.

Citing people familiar with the plans, The Wall Street Journal reported that senior engineer Hari Moorthy was hired to develop cash management tools, account deposit tools and other financial products geared at large companies, much as he did in his former post at JPMorgan.

Commercial banking is a new pursuit for Goldman, which is best known for its role in advising on mergers and helping companies raise capital. But Goldman Sachs has been pushing for growth of late, and expanding into new markets. That has included the launch of its consumer lending arm – Marcus – and its expansion into product financing with Apple.

Commercial lending is another expansion avenue in search of a new revenue stream for the bank, though that is already a crowded and competitive market. Goldman will face direct competition from a host of established players, including JPMorgan, Citigroup, Bank of America and Wells Fargo – and those are just the leading players. They have the know-how and infrastructure to help businesses with their cash management – and they are well-established. According to reports, half of JPMorgan’s $1.2 trillion in deposits are from businesses, and it made $4.1 billion in revenue from commercial loans in 2017. That was on top of another $3.4 billion from cash management and treasury services, according to the WSJ report.