Apple ends its buy now, pay later service after partnering with Affirm
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 18 2024
0mins
Source: SeekingAlpha
- Apple discontinuing Apple Pay Later service: Apple is ending its buy-now-pay-later service in the U.S. and will introduce installment loans through third-party apps and credit/debit cards globally.
- Focus on new payment options: Apple will no longer offer Apple Pay Later and will concentrate on new payment features announced at its developers' conference.
- Introduction of global installment loan offering: Users worldwide can access installment loans from credit/debit cards and lenders when using Apple Pay for purchases.
- Rollout of installment options: Installment loan offerings from credit and debit cards with Apple Pay will start in Australia, Spain, the U.K., and the U.S. with various financial institutions.
- Impact on fintech companies: Some fintechs may be affected while others could benefit from the new Apple Pay features.
Analyst Views on SYF
Wall Street analysts forecast SYF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SYF is 94.60 USD with a low forecast of 83.00 USD and a high forecast of 101.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
10 Buy
5 Hold
0 Sell
Moderate Buy
Current: 78.100
Low
83.00
Averages
94.60
High
101.00
Current: 78.100
Low
83.00
Averages
94.60
High
101.00
About SYF
Synchrony Financial is a consumer financial services company focused on delivering digitally enabled product suites. The Company provides a range of credit products through financing programs it has established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. It offers private label, dual card, co-brand, and general-purpose credit cards, as well as short- and long-term installment loans, and savings products through Synchrony Bank (the Bank). The Company primarily manages its credit products through five sales platforms such as Home & Auto, Digital, Diversified & Value, Health & Wellness and Lifestyle. The Bank offers directly to retail, affinity relationships and commercial customers, a range of deposit products, including certificates of deposit, individual retirement accounts (IRAs), money market accounts, savings accounts and sweep and affinity deposits.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
