Illustration: The Verge
Apple came close to creating an investing feature for the iPhone that would’ve let users buy and sell stocks directly on the device, according to a report from CNBC. The company reportedly started working on the investing feature during the meme stock hype in 2020 but ultimately pivoted away from the idea last year as markets began to falter.
Sources close to the situation tell CNBC that Apple was working on the feature with Goldman Sachs, the financial institution that Apple teamed up with to launch its credit card, buy now, pay later offering, and savings account. While Apple and Goldman Sachs aimed to release the feature in 2022, Apple shelved the project, as CNBC reports it “feared user backlash if people lost money in the stock…