Apple Card Installments For The Vision Pro Can Result In $1 billion Loan Payments, Making It A Nice Payday For Partner Goldman Sachs
The Apple Vision Pro is priced at $3,499, so it is likely that out of the initial estimated 60,000 to 80,000 units that make up the first batch, the majority of buyers will take advantage of the Apple Card to facilitate payments through installments. After all, undertaking an expensive purchase such as this is not feasible for everyone, and the mixed-reality headset has caught the attention of the masses, so it is natural for them to be lured into trying out the device. In the end, Goldman Sachs should be pleased with the outcome, as Apple Card loans are expected to reach $1 billion thanks to the upcoming launch.
For Goldman Sachs to issue $1 billion in Apple Card installment loans, there will need to be around 300,000 Apple Vision Pro users
The tumultuous relationship between Goldman Sachs and Apple has been well-documented, with the financial institute reportedly suffering $1.2 billion in losses in 2022 because of the Apple Card. Regardless, on the Cupertino giant’s website, it is still mentioned that Goldman Sachs issues the card, which also means that the same bank will provide the loan facilitation. The Apple Vision Pro might not be a ‘home run’ like the company’s other products, but it can most likely make an effective statement.
Related Story Apple Vision Pro App Store Has Officially Launched And That Too Before Pre-Orders Kick Off
The only problem for Goldman Sachs is that the estimated $1 billion will be interest-free, meaning that the bank will receive nothing for providing the Apple Card installments facility, assuming users can pay for those installments within the allotted time. For Goldman Sachs to reach this amount, there need to be 300,000 Apple Vision Pro owners in the U.S., though analyst Ming-Chi Kuo believes that the AR headset is expected to ship 500,000 units this year.
However, other industry watchers remain skeptical of the launch, believing that the company should pool its resources into generative AI rather than a head-mounted wearable, but
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