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Apple reportedly wants to handle its own financial services, and partners’ stocks paid the price

Apple reportedly wants to handle its own financial services, and partners’ stocks paid the price
It feels like there is no end to Apple's ambition
$Apple(AAPL.US)$ has increasing ambitions in financial technology as it explores ways to participate in the financial-services industry more directly, according to a Wednesday report.
The company is developing payment-processing technology and tools that could support future ambitions, according to Bloomberg News. Eventually, AAPL, could come to depend less on the partners that support current fintech offerings such as Apple Pay, Apple Card and Apple Cash.
Shares of $Green Dot(GDOT.US)$ , which helps facilitate the Apple Cash money-transfer service, fell as much as 10.6% in Wednesday trading after the report hit, though they pared back some of those losses and finished the day down 5.2%. Shares of $CoreCard(CCRD.US)$ , which is said to do payment-processing work related to the credit card Apple offers with $Goldman Sachs(GS.US)$ , were off 12.2%; Goldman Sachs stock fell 1.2%.
Shares of Apple weren’t helped by the report, as they fell 0.7% to snap an 11-session winning streak. The company didn’t immediately respond to a MarketWatch request for comment about its financial-services aims.
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