Apple’s ‘big story’ this holiday season is its credit card, analyst says

The “big story” for Apple this holiday shopping season won’t be what products consumers buy but how they pay for it, according to D.A. Davidson & Co. analyst Tom Forte.

“AirPods Pro [is] a good product, but I think the story for Apple’s holiday sales this year is in payments with the Apple Card,” he said Friday on “Closing Bell.”

With the iPhone market reaching a mature state, Apple has turned its focus toward expanding the number of services it offers to drive growth. That includes, as Forte pointed out, its foray into the financial services world with the launch of its Goldman Sachs-backed credit card earlier this year and the streaming wars with Apple TV+, along with its plans to dive deeper into health care services.

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