The low expectations of the new credit card associated with Goldman Sachs that Apple plans to come out is good news for both stocks, said Jim Cramer of CNBC on Thursday
Cramer is a former Goldman Sachs broker.
Goldman Sachs wants to diversify from his hereditary business and offer more credit through credit cards and small businesses. He said the bank wants to reflect American Express, "but with higher fees that are a fact of life of these high quality cards. "
This deal has "got the money" for Apple, which has a wide range.
"Is it enough to go to the Apple map if you are on another ecosystem?" Why not? I just did, "Kramer said. ̵
The program will bring value to Goldman Sachs, which is currently the cheapest share in the revenue side of major banks as a result of the" episodic "revenue stream.If Goldman Sachs can use algorithms for making decisions to lend, and to produce hypothetically 10 million credit cards through the Apple ecosystem, this can mitigate the episodic nature of the bank as well as the recurring Apple cell phone launch, he explains, Paypal Chief Executive Dan Shulman said. payment is total $ 13900000000 address book market
"Apple just got into the race without financial risk. That's all Goldman is doing, "Kramer said. As for Goldman, they are not inviting anything because they no longer have another card. "Apple sells less than 15 times revenue while Goldman sells
" I think both are underestimated here, partly because financial analysts who follow Goldman and technology analysts following Apple just do not understand that news "
Cramer's Cramer: 1-800-743-CNBC
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