--- title: "Apple intended to allow iPhone users to trade stocks." description: "Apple nearly developed an iPhone investing feature, but abandoned due to market decline during the Covid pandemic, focusing on meme stock craze." author: "Saumya Mishra" published: 2023-09-23 updated: 2023-09-23 canonical: https://www.mindstick.com/news/3343/apple-intended-to-allow-iphone-users-to-trade-stocks category: "technology" tags: ["iphone", "apple", "covid19"] reading_time: 2 minutes --- # Apple intended to allow iPhone users to trade stocks. [Apple](https://www.mindstick.com/news/3318/iphone-15-pro-may-come-in-blue-and-grey-colour) nearly developed an investing feature for [iPhones](https://www.mindstick.com/news/3335/the-top-10-features-in-ios-17-apple-s-most-significant-upgrade-for-iphones-in-2023), allowing users to purchase and trade stocks directly. The idea was in the works during 2020 but was abandoned due to market decline. Apple [began working](https://answers.mindstick.com/qa/42813/what-was-thomas-edison-s-first-job-how-old-was-he-when-began-working) on investment [features](https://www.mindstick.com/news/3303/apple-smart-ring-recently-granted-patent) during the Covid pandemic when [interest rates](https://yourviews.mindstick.com/story/3734/how-does-interest-rates-impact-the-economy) were low in the US. Conversations about the project began in 2020, around the meme stock craze.. Apple's stock-trading feature, originally scheduled for 2022, was scrapped due to concerns about user backlash if [investments](https://www.mindstick.com/news/2678/5g-services-in-india-to-attract-rs-1-5-lakh-crore-in-investments-in-2023) resulted in losses. The company has since shifted to a high-yield [savings account](https://answers.mindstick.com/qa/98348/how-do-i-transfer-my-sbi-savings-account-to-another-sbi-branch). It is unclear if the stock-trading project is still in [development](https://www.mindstick.com/articles/65309/importance-of-ux-design-in-the-development-of-mobile-apps) or if it has been scrapped entirely. Goldman CEO David Solomon's decision to step back from consumer efforts may delay its debut. However, the [infrastructure](https://www.mindstick.com/news/2313/a-cybersecurity-and-infrastructure-security-agency-will-monitor-the-us-midterm-elections) for an investing feature has been mostly built and is ready for implementation. Goldman Sachs, which entered into a 2019 partnership with Apple, is attempting to end its [relationship](https://yourviews.mindstick.com/view/80819/live-in-relationship-protecting-the-right-to-live-together) with the company despite the success of their credit launch. The company has announced a high-yield savings account exclusively for Apple card users and a "Pay Later" service in the US, allowing users to divide purchases into four payments over six weeks without interest or fees. However, reports suggest that Amex is unlikely to accept the deal, and a less well-known bank might step in instead. \ --- Original Source: https://www.mindstick.com/news/3343/apple-intended-to-allow-iphone-users-to-trade-stocks Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.