Apple Unveils ‘Buy Now, Pay Later’ Service
June 10, 2022
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Apple ($NASDAQ:AAPL) unveiled its “Buy Now, Pay Later” service during its Worldwide Developers Conference on Monday. The “Pay Later” program will operate out of a wholly-owned subsidiary called Apple Financing LLC, which has the necessary state lending licenses. Apple hasn’t released many details about how the program will work, but it’s likely that customers will be able to finance their purchases through the subsidiary and then make monthly payments. Apple is already working with a number of major banks and credit card issuers to provide financing for the program. The move could be a major boost for Apple’s sales, as it will make it easier for customers to afford its products. It could also help Apple expand its customer base, as people who might not have been able to afford its products in the past will now have the option to finance them. However, the program could also put a strain on Apple’s finances if too many people default on their payments. It’s possible that Apple will have to raise prices in order to offset the cost of the program, which could alienate some of its customers. Only time will tell how successful Apple’s “Buy Now, Pay Later” program will be, but it’s sure to have a major impact on the company’s bottom line.
So far, the media sentiment towards APPLE stock has been mostly negative. On Thursday, APPLE stock opened at $147.1 and closed at $142.6, down by 3.6% from the previous closing price of 148.0.
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Apple has announced a new “buy now, pay later” service that will allow customers to make purchases and then pay for them over time. This news has been met with some negativity, as some people believe that this will lead to more people accumulating debt. However, others believe that this could be a good way for people to manage their finances and make larger purchases that they may not have been able to afford otherwise. The stock price of Apple dropped by 3.6% following this announcement, as investors seem to be worried about the potential negative implications of this new service. However, it is still too early to say how successful or unsuccessful this new service will be. Only time will tell if Apple’s gamble pays off or if it ends up being a flop.
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