Top Stories: Apple Card Savings Account Launches, 15-Inch MacBook Air Rumors, and More

[MacRumors]

With roughly six weeks to go until WWDC, rumors are continuing to fly about what we might see at the event. Bloomberg's Mark Gurman joined us on this week's episode of The MacRumors Show to give us his take on things, but there's still lots up in the air.

This week also saw the launch of the savings account companion to Apple Card and the promised smoke and carbon monoxide alarm sound recognition feature for HomePod, while Tim Cook was surprised by one user's vintage Mac as Apple opened its first two retail stores in India, so read on for all the details on these stories and more!

Apple Card Savings Account Launches With Over 4% Interest Rate

Six months after being announced, the Apple Card's savings account is now available in the United States. With a competitive 4.15% APY, the account allows Apple Card users to earn interest on their Daily Cash cashback and money deposited from a linked bank account.

The savings account is offered by Goldman Sachs and can be completely managed in the Wallet app on the iPhone. The account has no fees and no minimum balance requirement.

15-Inch MacBook Air to Offer Two M2 Chip Options, No M2 Pro Configuration

The long-rumored 15-inch MacBook Air will be equipped with the M2 chip, according to the latest info shared by analyst Ming-Chi Kuo.

The first Macs with the M3 chip are likely still months away. Kuo said Apple's next-generation M3 chip will enter mass production in the second half of 2023, slightly ahead of higher-end M3 Pro and M3 Max chips destined for the next 14-inch and 16-inch MacBook Pro models.

The MacRumors Show: Mark Gurman Talks WWDC 2023, Apple Headset, and New Macs

Bloomberg's Mark Gurman joined us on this week's episode of The MacRumors Show to talk through all of the latest rumors about the software updates and new hardware expected to be previewed at this year's WWDC, which starts on June 5.

New information revealed by Gurman during the episode included word that the Apple silicon Mac Pro won't be debuting at WWDC and that iOS 17 will include improvements for the Wallet app and Find My.

watchOS 10 Described as Apple Watch's Biggest Software Update Since 2015

watchOS 10 will be the Apple Watch's biggest software update since the initial version of the operating system was released in 2015, according to Mark Gurman. Apple is expected to announce watchOS 10 at WWDC in June.

Gurman expects watchOS 10 to include an updated interface, with an anonymous leaker claiming that the Home Screen will be redesigned, though Gurman says he does not expect the core design of the platform to change.

HomePod Can Now Alert You If Your Smoke Alarm Goes Off

As promised earlier this year, Apple has now expanded the Sound Recognition feature on the second-generation HomePod and the HomePod mini to be able to detect smoke and carbon monoxide alarm sounds and send a notification to the user's iPhone.

Sound Recognition was first introduced on the iPhone in 2020 and can detect a wide variety of sounds, including a doorbell,... Click here to read rest of article

Article Link: Top Stories: Apple Card Savings Account Launches, 15-Inch MacBook Air Rumors, and More

 

[vegetassj4]

HomePod Can Now Alert You If Your Smoke Alarm Goes Off​

iOS & iPadOS show the smoke detector option, but why not MacOS? It would be nice to get a notice on a MacBook or Mac as well.

 

[Realityck]

New information revealed by Gurman during the episode included word that the Apple silicon Mac Pro won't be debuting at WWDC and that iOS 17 will include improvements for the Wallet app and Find My.

Hey Mark what’s happening with MacOS 14 for WWDC?

 

[RalfTheDog]

I wonder, if a person was to put a $100k or so into the savings account, would that increase the limit on their Apple Card?

 

[BrianBaughn]

They ought to have a savings account that pays higher interest if you use the money to buy an Apple device.

 

[sw1tcher]

They ought to have a savings account that pays higher interest if you use the money to buy an Apple device.

Goldman Sachs is the one paying out the interest. How does using the funds to buy Apple products benefit Goldman's bottom line?

Apple's certainly not going to pay any of that higher interest.

 

[BrianBaughn]

Goldman Sachs is the one paying out the interest. How does using the funds to buy Apple products benefit Goldman's bottom line?

Apple's certainly not going to pay any of that higher interest.

Yeah. I guess those finance experts could never figure it out.

 

[sw1tcher]

Yeah. I guess those finance experts could never figure it out.

I mean, we are talking about a company that has lost over $3.5 Billion due to their ineptitude over at Marcus

Goldman Sachs Sheds Consumer Loans as Losses Mount

The Wall Street bank sold off some loans from a consumer-banking arm, Marcus, revealing a nearly $500 million loan loss in the business.

www.nytimes.com

How much will it cost for Goldman Sachs to extricate itself from a mistake?

The Wall Street bank, long known for catering to big corporations and wealthy clients, on Tuesday revealed the latest fallout from its half-decade-long effort to expand into loans and savings products for the less well off. Goldman said it had sold off some of those down-market loans and conceded defeat on others, to the tune of nearly $500 million in losses.

Goldman has acknowledged a new setback in that arena every few months. In October, the firm cleaved its wobbling consumer offerings, including credit card partnerships and interest-earning accounts, into a separate division. Three months later, the bank disclosed more than $3 billion in losses tied to that business over the previous years.

 

[Harvey Zoltan]

I feel the same way Mark Gurman does about the AR headset. It won't be pitched to developers, this is Apples next big product for the general public. I expect it to be priced similar to a higher end MacBook Pro.

 

[Solomani]

A little confused about Apple Card. I always thought it was a "credit card".

But if you deposit into it, and earn interest, then it becomes more of a bank debit/checking/savings account?

 

[svish]

Looks like Tim Cook had a wonderful time in India. Also looking forward to seeing the new 15" MacBook Air at WWDC.

 

[JamesHolden]

I like Tim Cook and think he's doing an excellent job of running Apple. But he also strikes me as overly performative emotionally. I'm sorry, but someone brining an old Mac SE to an Apple Store opening isn't THAT exciting. I find it hard to watch his keynotes because he seems so artificial.

Furthermore, what does an old Mac have to to with today's Apple? It would have been much more exciting had that Apple fan brought in an original NeXTCube, because that's the foundation upon which today's Apple is built.

 

[lkrupp]

A little confused about Apple Card. I always thought it was a "credit card".

But if you deposit into it, and earn interest, then it becomes more of a bank debit/checking/savings account?

The Apple Card IS a credit card, and like other credit cards you cannot deposit into it. The Apple Card is simply the host for the savings account. The savings account is separate and you add money to it by connecting a bank account (checking/savings) or by directing your Daily Cashback proceeds into it.

 

[lkrupp]

I wonder, if a person was to put a $100k or so into the savings account, would that increase the limit on their Apple Card?

No, absolutely not. Having money does not mean you are creditworthy. There are plenty of rich deadbeats in the world who don’t pay their bills on time.

 

[Edsel]

Edsel Predictions:

2023 December - Apple opens Apple Empire Bank or Bust, Inc​

2024 Apple Empire offers new car loans.​

2025 Mortgages introduced by Apple Empire.​

2026 Apple Empire offers Pay-Day loans.​

2027 Apple opens first Apple Pawn Shop for used Apple devices.​

2028 Apple introduces Wagner World-Wide Debt Collection Services.​

........​

2035 Apple introduces the new 27" M2 iMac and their new iPhone 15SE!!!!​

 

[newyorksole]

No, absolutely not. Having money does not mean you are creditworthy. There are plenty of rich deadbeats in the world who don’t pay their bills on time.

lmaooo this is a fact.

 

[azentropy]

No, absolutely not. Having money does not mean you are creditworthy. There are plenty of rich deadbeats in the world who don’t pay their bills on time.

My sister used to work at a bank were her job was to interface with high asset customers. She would tell stores about some of them how they were always late with everything, always going over their limits, losing cards, constantly activating/deactivating cards for their workers etc. She actually said some of the best/most responsible ones were from people you wouldn't expect like a few members from well known heavy metal bands.

 

[sw1tcher]

No, absolutely not. Having money does not mean you are creditworthy. There are plenty of rich deadbeats in the world who don’t pay their bills on time.

Well, jamezr seems to disagree with you so you'll need to provide some examples of rich deadbeats who don't/won't pay their bills.

I'll start you off 🤣

Lawsuit: Twitter stopped paying rent at headquarters after Musk took over

Twitter didn’t pay $3.4M rent bills in December and January, building owner says.

arstechnica.com

Elon Musk Can’t Avoid Paying Twitter’s Rent Forever

Stiffing the landlords will be costly in the long run.

www.bloomberg.com

 

[BobSc]

They ought to have a savings account that pays higher interest if you use the money to buy an Apple device.

And just how would that be implemented?

 

[BobSc]

Yeah. I guess those finance experts could never figure it out.

Figure out what? None of your proposals make sense to me.

 

[RalfTheDog]

No, absolutely not. Having money does not mean you are creditworthy. There are plenty of rich deadbeats in the world who don’t pay their bills on time.

At the same time, if you don't pay your bill, they have your money. It would be like a secured card, only instead of the money being locked in a CD or a GIC, it would be in a savings account where you can remove the money whenever you want.

 

[BrianBaughn]

And just how would that be implemented?

Implemented? I have no idea. I don't work in that industry. I guess everyone puts on a suit, goes into work and starts implementing stuff.

Simply put…an Apple Purchase Savings Account would pay, say, one percent more than the standard account. Once the money is used to make an Apple purchase…Apple settles with Goldman Sachs in a settlement manner that was previously settled on.

Sorry I brought it up!

 

[AgentOSX]

I wonder, if a person was to put a $100k or so into the savings account, would that increase the limit on their Apple Card?

Nope.

 

[AgentOSX]

I like Tim Cook and think he's doing an excellent job of running Apple. But he also strikes me as overly performative emotionally. I'm sorry, but someone brining an old Mac SE to an Apple Store opening isn't THAT exciting. I find it hard to watch his keynotes because he seems so artificial.

Furthermore, what does an old Mac have to to with today's Apple? It would have been much more exciting had that Apple fan brought in an original NeXTCube, because that's the foundation upon which today's Apple is built.

He is an operations guy and has no real entrepreneurial vision at all. I am not a Cook fan, though I do enjoy the stock performance of the last 11 years.

 

[AgentOSX]

I mean, we are talking about a company that has lost over $3.5 Billion due to their ineptitude over at Marcus

Goldman Sachs Sheds Consumer Loans as Losses Mount

The Wall Street bank sold off some loans from a consumer-banking arm, Marcus, revealing a nearly $500 million loan loss in the business.

www.nytimes.com

How much will it cost for Goldman Sachs to extricate itself from a mistake?

The Wall Street bank, long known for catering to big corporations and wealthy clients, on Tuesday revealed the latest fallout from its half-decade-long effort to expand into loans and savings products for the less well off. Goldman said it had sold off some of those down-market loans and conceded defeat on others, to the tune of nearly $500 million in losses.

Goldman has acknowledged a new setback in that arena every few months. In October, the firm cleaved its wobbling consumer offerings, including credit card partnerships and interest-earning accounts, into a separate division. Three months later, the bank disclosed more than $3 billion in losses tied to that business over the previous years.

Really, this is the fault of people who took out loans they aren't paying back, or paying on time. You can fairly criticize the prudence of getting into a consumer loan business at time of increasing and compounding inflation and increasing money costs. In the last 12 months, your money is worth 1/7th less, 14%. That is about 11.5 hours of your labor every two weeks, three DAYS of your labor every month, that is essentially wasted and lost to inflation.