NEW YORK, January 8, 2026, 10:10 EST — Regular session
- Apple shares down about 1.5% in morning trading
- Apple Card issuer to shift to JPMorgan from Goldman, with a roughly two-year transition
- Traders eye Friday’s U.S. jobs report and Apple’s Jan. 29 results
Apple shares fell about 1.5% to $256.36 in morning trade on Thursday as investors digested a change in the Apple Card partnership that will shift the co-branded credit card to JPMorgan Chase from Goldman Sachs. 1
Apple and Chase said the handover is expected to take about 24 months, with Mastercard staying as the payment network. Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet, said Apple Card has “transformed the credit card experience,” while Chase card chief executive Allison Beer said the bank was “excited to innovate together in the future.” The companies estimated the portfolio would bring more than $20 billion of card balances onto Chase’s platform, and JPMorgan said it expects a $2.2 billion provision for credit losses — money set aside for expected defaults — tied to the forward purchase commitment. 2
The change matters because it keeps Apple’s payments push — a growing part of its services business — tied to a major U.S. lender with deep card infrastructure. It also underlines how Apple’s consumer finance products can pull in bank-style risks even when the iPhone maker is not the issuer.
The broader tone for big tech was cautious after U.S. jobless claims ticked higher, keeping rate and growth nerves in play. The Nasdaq-heavy Invesco QQQ ETF was down about 0.8%, with Microsoft off about 1.1% while Alphabet inched higher. 3
JPMorgan shares rose about 0.9% while Goldman was little changed in early trade, a reminder that most of the direct balance-sheet impact sits with the banks, not Apple.
But the swap is not quick. A drawn-out transition, regulatory sign-offs and a softer consumer backdrop could still complicate the story, especially if credit costs climb or if investors start treating Apple’s finance ties as another point of sensitivity alongside hardware demand.
