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Re: Apple Card - New Apple Credit Card
Doesn't seem like the street is as high on it as you think they are. I copied some of the commentary from 4 research notes. JPM- Apple Card offers several customer benefits that might trigger significant adoption. Although already mentioned previously in press reports, the announcement yesterday surprised most relative to a credit card (Apple Card) launched in partnership with Goldman Sachs and MasterCard. Apple Card will be available both digitally in the wallet app (could be used at locations accepting Apple Pay) and in the form of a physical card, which could be used at locations not accepting Apple Pay (following on the lines of the Square Cash appand card). Apple will use on-device processing to allow users to track and manage transactions, as well as spending trends. The positives relative to the positioning of the card include absence of fees and differentiation of rewards through focus on daily cash backs. The introduction of Apple Card will allow the firm to leverage the growing adoption of Apple Pay and capture a greater portion of the fees in the payment ecosystem. The card is expected to be available to U.S customers starting in summer of 2019. CITI- pple announced Apple Card built into the Apple Wallet app on iPhone. Apple is partnering with Goldman Sachs (issuing bank) and Mastercard (global payments network). The Card offers no fees and very attractive rebates (3% for Apple purchases in the AppStore, 2% rebates for payments made with Apple Pay and 1% for every other purchase made with the Apple Card). Apple Card will be in the US this summer. Apple has also designed a titanium Apple Card for shopping at locations where Apple Pay is not accepted yet. We expect interest in the card from its US customer base but note consumer behavior is very slow to change. UBS- Apple Card and Apple Pay make Apple more part of consumers' daily life and increase stickiness of the ecosystem may not be material contributors to revenue. Gaming appears to be a bundle of paid games and may attract some new customers GS- Apple Card interesting but small earnings impact for Apple. Apple announced a new credit card (“Apple Card”) which offers 3%/2%/1% cash back on purchases made directly-with-Apple/with-Apple-Pay/other-purchases. Even though Apple Pay is becoming more available we would still expect a large percentage of transactions to be done at the 1% return level (using the physical card) so we would expect the typical consumer to perceive the cash return rate to be OK but not great (vs. 1.5% on all transactions available on some competitor cards). Assuming a 35bp/dollar spent take rate (inline with a 20bps-50bps range based on industry checks), $1,000/user/month spend (roughly inline with Amex cards) and 21m users (~10% of iPhone installed base in the US), we estimate Apple Card could generate $882m in revenue and $0.12 in EPS (we show sensitivities in Exhibit 1 below). This would equate to just under a 1% uplift toCY20 FactSet consensus EPS March 26, 2019, 10:57:12 AM |
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Re: Silvercar Master Thread
Not sure this has been discussed but Silvercar now allows you to rent at one airport and return to another with a $50 fee. This works for the A4 and the Q5 only.
August 19, 2019, 03:16:34 PM |
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Re: investments for children
I always wanted to put away some money for my children, as soon as they were born. Either monthly or yearly, but for some reason I never got around to it. Now that my oldest is almost 10, I think I better start. I don’t know anything about stocks or mutual funds or anything of the sort, and I can’t imagine putting away for than a few hundred dollars a year per kid. Does anyone have any ideas? Am I wasting my time if I just deposit it in a bank account for them? It prob won’t grow muchOpen a free Fidelity, Schwab etc. account. Put it into the SPY. Let it ride for as long as possible. December 05, 2019, 09:05:55 AM |
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Re: NYS Plastic Bag Ban - Starting 3/1/20
No one likes to rip people off more than Gourmet Glatt; especially in the 5 Towns. Its ridiculous.
February 25, 2020, 11:08:21 AM |
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