Analyst Betsy Graseck from Morgan Stanley maintained a Buy rating on Goldman Sachs Group (GS – Research Report) and increased the price target

Apple is in talks with Barclays to replace Goldman Sachs as the tech giant’s credit card partner, says two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.

The Goldman Sachs Group (NYSE:GS – Get Free Report) had its price objective boosted by equities researchers at Barclays from $588.00 to $713.00 in a research note issued on Monday,Benzinga reports.

Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased.

It's been Goldman Sachs in the background since the Apple Card's launch in 2019. Ever since its introduction in 2019, the Apple Card has been powered

JPMorgan Chase has also been in talks with Apple about the credit card business since last year. Talks with AMEX reportedly stalled, likely due to the financial company’s reluctance to sacrifice its well-known AMEX brand by appearing to be in a secondary position to Apple in the partnership.

Apple is exploring partnerships with Barclays and Synchrony to replace Goldman Sachs as its credit card partner as Goldman scales back its consumer finance ambitions.

Goldman's credit card deal with Apple lasts until 2030, but the partnership may end sooner than that, Goldman CEO David Solomon told analysts on an earnings call on Wednesday.

By Nupur Anand NEW YORK - Apple is in talks with Barclays to replace Goldman Sachs as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.

Major U.S. indexes surged at midday Wednesday after several big banks reported strong quarterly results and a key measure of inflation came in softer than anticipated.

If the Apple Card does get a new issuer, it could also mean big changes for the Apple Card Savings account. The high-yield savings account currently offers a 3.90% APY and is available only to Apple Cardholders. Neither Apple, Goldman Sachs nor Chase immediately responded to requests for comment. Synchrony and Barclays declined to comment.