Vitaliy_ph/iStock via Getty Images Originally Published on February 4, 2026 By Jennifer Nash The January U.S. Services Purchasing Managers' Index (PMI) from S&P Global inched up 0.2 points to 52.7, indicating sustained growth in the services sector last month. The latest reading marks three straight years of continuous service sector expansion and was lower than the forecast of 52.5. From the late...
Vitaliy_ph/iStock via Getty Images Originally Published on February 4, 2026 By Jennifer Nash The January U.S. Services Purchasing Managers' Index (PMI) from S&P Global inched up 0.2 points to 52.7, indicating sustained growth in the services sector last month. The latest reading marks three straight years of continuous service sector expansion and was lower than the forecast of 52.5. From the latest press release , Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said: “Sustained service sector growth, supported by a robust rise in manufacturing output in January, indicates the economy is growing at an annualized rate of around 1.7%. However, that’s a lower gear compared to the pace of expansion seen prior to December’s slowdown, and hints at GDP growth cooling in the first quarter. “Consumer-facing companies are increasingly reporting a challenging environment, with demand for services falling in January having nearly stalled in December, reflecting low levels of consumer sentiment and cost of living pressures. “While financial and business service providers are reporting a more resilient picture, demand growth here is also showing signs of fraying amid heightened concerns over the economic outlook, in turn often blamed on political uncertainty. However, lower interest rates and favorable financial conditions, higher government spending, combined with more active sales and marketing efforts, are propping up business sentiment and spending, and also encouraging modest hiring. “Inflationary pressures in the service sector meanwhile remain elevated, blamed on the pass-through of tariff-related price increases and wage growth, though stiff competition is often reported to have limited the impact on final selling prices.” Background on the S&P Global US Services PMI The S&P Global US Services PMI™ measures the activity level of purchasing managers in the services sector through a questionnaire of ~400 service sector companies. The sectors co...
Poliuszko/iStock via Getty Images American Battery Technology ( ABAT ) is a battery recycling and materials company based in Reno, Nevada, which is in the eye of the storm around the strategic development of onshore critical materials in the U.S. As described on Seeking Alpha: American Battery Technology Company operates as a battery materials company in the United States. The company explores for...
Poliuszko/iStock via Getty Images American Battery Technology ( ABAT ) is a battery recycling and materials company based in Reno, Nevada, which is in the eye of the storm around the strategic development of onshore critical materials in the U.S. As described on Seeking Alpha: American Battery Technology Company operates as a battery materials company in the United States. The company explores for resources of battery metals, such as lithium, nickel, cobalt, and manganese; and develops and commercializes technologies for the extraction and refining of battery metals. It also commercializes an integrated process for the recycling of lithium-ion batteries. The company was formerly known as American Battery Metals Corporation and changed its name to American Battery Technology Company in August 2021. American Battery Technology Company was incorporated in 2011 and is headquartered in Reno, Nevada. The company is inching slowly towards profitability while sitting on large-scale mineral deposits, which are becoming ever more valuable as the electrification boom continues. Developing these assets requires funding, and the Department of Energy (DOE) has supported the company by providing fast-track approvals and development grants. I have covered ABAT regularly over the last year and would encourage readers new to the stock to read my previous articles for full details of the company and its operations. ABAT has proven to be a highly volatile stock, with dramatic pumps and dumps. I advocate a dynamic strategy hedging with options to take advantage of the volatility while reducing risk. In my last coverage of ABAT, I upgraded the stock to a Buy rating and outlined a covered call strategy that I was using. ABAT announced Q4 earnings on 5th February, reporting continued good progress on several fronts. The market took the news positively, with a close to 17% increase in the share price on an overall green day for the markets. Data by YCharts This, however, is against a backdr...
Key Points Applied Digital was one of the top stocks of 2025, returning some 221%. It has surged another 41% through the first month of 2026. Is Applied Digital stock a buy now, or is it too late? 10 stocks we like better than Applied Digital › As a developer and owner of artificial intelligence (AI) data centers, Applied Digital (NASDAQ: APLD) is literally at the center of the AI boom. In 2025, A...
Key Points Applied Digital was one of the top stocks of 2025, returning some 221%. It has surged another 41% through the first month of 2026. Is Applied Digital stock a buy now, or is it too late? 10 stocks we like better than Applied Digital › As a developer and owner of artificial intelligence (AI) data centers, Applied Digital (NASDAQ: APLD) is literally at the center of the AI boom. In 2025, Applied Digital was one of the top stocks, returning about 221%. This year, it has already gained a staggering 41% as of Feb. 3, trading at more than $35 per share. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » In a span of just 13 months it has been a five-bagger -- increasing roughly fivefold from around $7 per share at the start of 2025. Can it keep going higher? Let's take a look. 250% revenue growth Applied Digital posted its second-quarter earnings on Jan. 7, and the stock shot some 24% higher on its strong results. Revenue increased 250% year over year to $127 million, while it narrowed its net loss to $37 million, or $0.22 per share. That was considerably improved from a $0.63-per-share loss in the same quarter a year earlier. The AI data center developer energized its Polaris Forge 1 facility in North Dakota, the first of three buildings being built on that campus. It has been contracted out to CoreWeave for 15 years in an $11 billion agreement. It also inked a 15-year lease with a U.S.-based hyperscaler for 200 megawatts (NW) of AI and high-performance computing capacity at Polaris Forge 2, which is under construction and expected to open in 2026. This deal will generate another $5 billion in revenue for Applied Digital. The company anticipates full capacity at Polaris Forge 2 in early 2027. Then a third facility will be online at Polaris Forge in 2027. It also has two other facilities in North Dakota that are at full capacity and handle mostl...
This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing Hongkongers can expect a warm Lunar New Year with maximum temperatures climbing to 23 degrees Celsius when the three-day holiday begins on February 17. According to the Hong Kong Observatory’s nine-day weather forecast, the temperature on the first day of the Lu...
This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing Hongkongers can expect a warm Lunar New Year with maximum temperatures climbing to 23 degrees Celsius when the three-day holiday begins on February 17. According to the Hong Kong Observatory’s nine-day weather forecast, the temperature on the first day of the Lunar New Year holiday will range between 19 and 23 degrees, with mostly cloudy skies and sunny intervals during the day. Advertisement On Sunday, temperatures dipped to 13 degrees in some urban areas, with most regions recording temperatures four to six degrees lower than those on Saturday. The city will experience another cool morning on Monday due to a strong northeast monsoon affecting the coast of southern China. Advertisement “The monsoon will moderate gradually and temperatures will rise in the middle of this week. A fresh easterly airstream is expected to affect the coast of Guangdong in the latter part of this week,” the Observatory said on Sunday.
For many U.S. Olympic athletes, Italy feels like home turf toggle caption Gabriele Facciotti/AP In January, American athlete Jessie Diggins, the world's top-ranked female cross-country skier, sprinted up a steep slope in Italy's Val di Fiemme, poles pumping, for her third Tour de Ski victory. Now, Diggins is back at the nearby Tesero Cross-Country Skiing Stadium in Val di Fiemme, a valley in the I...
For many U.S. Olympic athletes, Italy feels like home turf toggle caption Gabriele Facciotti/AP In January, American athlete Jessie Diggins, the world's top-ranked female cross-country skier, sprinted up a steep slope in Italy's Val di Fiemme, poles pumping, for her third Tour de Ski victory. Now, Diggins is back at the nearby Tesero Cross-Country Skiing Stadium in Val di Fiemme, a valley in the Italian Dolomites, for the Olympics — on a course where she's raced many times. While the 2026 Winter Olympics take place thousands of miles from the U.S., centered around the business capital Milan and the ski resort town Cortina, the competition sites in northern Italy are familiar ground for many on Team USA. "Our athletes compete there often. Many of them train there," says Sarah Hirshland, CEO of the U.S. Olympic and Paralympic Committee. "It's a place where we know we can shine." To help even the playing field, cross country officials have reconfigured the course. "Most of it isn't the same; it's quite literally running backwards for part of it," Diggins says. "You have people like me who've been racing there for a very long time, but at the same time everyone's kind of relearning it all over again," she says. toggle caption Matthias Schrader/AP At Val di Fiemme, athletes will also be ski jumping off steep, specialized ramps — and both cross-country skiing and ski jumping in the Nordic combined. Sponsor Message Two hours to the north, driving over winding mountain roads, there's the Antholz-Anterselva Biathlon Arena. The valley is considered a "biathlon sanctuary," according to Biathlon World, where top athletes have been skiing and shooting rifles for more than 50 years. U.S. biathletes have a particular advantage. "Our head coach for the last eight years is from the Antholz Valley, born and raised," says Deedra Irwin, the top U.S. female biathlete. "Most of our wax staff have been ski racing there since they were kids." The U.S. has never medaled in biathlon. This co...
Technically, many soups are spiced in some way, even if it’s just with pepper. But we all know what is meant by a spiced soup: something with a jolt to it, and a bit of heat to warm up a winter evening. When it comes to soup, spice is the ultimate companion to a main ingredient that may otherwise be considered boring or bland. In this sense, the spices are the most important component: they are wh...
Technically, many soups are spiced in some way, even if it’s just with pepper. But we all know what is meant by a spiced soup: something with a jolt to it, and a bit of heat to warm up a winter evening. When it comes to soup, spice is the ultimate companion to a main ingredient that may otherwise be considered boring or bland. In this sense, the spices are the most important component: they are what the soup will taste of. But which spices go with which ingredients, and how? Here are 17 different recipes to help you figure that out. View image in fullscreen Nigel Slater’s spiced suggestion offers more promise than your standard carrot soup. Photograph: Jonathan Lovekin/The Observer A word of advice: making soup is, by and large, a pretty forgiving endeavour. Presentation is not paramount, and amounts can be varied without much risk. A soup should ideally be made from things you already have to hand, so don’t give up on a recipe for the sake of a single missing ingredient – it will almost certainly be fine without it. One other thing: you’ll want to have a stick blender at the ready; almost all these soups are either wholly or partially liquidised before serving. View image in fullscreen Thomasina Miers’ Moroccan lentil and carrot soup is spiked with cumin. Photograph: Yuki Sugiura/The Guardian. Food stylist: Aya Nishimura. Prop stylist: Louie Waller. Food assistant: SongSoo Kim. Let’s begin with carrots. Nobody gets too excited at the prospect of carrot soup, but a spiced carrot soup such as Nigel Slater’s – spiked with cumin, coriander and chilli – offers a bit more in the way of promise. Thomasina Miers’s Moroccan spiced lentil and carrot soup combines cumin and paprika with cinnamon and ginger, and is served with lemon, yoghurt, coriander leaves and some crispy kale. Not a bad way to use up three carrots on a cold weekday night. My traditional method for dealing with leftover parsnips – letting them rot in the vegetable drawer of the fridge before binning them – ...
The faint outline of a hand in a cave in Indonesia ’s Sulawesi has been recognised as the world’s oldest known rock art , shattering a long-held scientific theory that human artistic expression first flourished in Ice Age Europe. Dating back at least 67,800 years, the faded stencil was found hiding beneath a more recent chicken sketch in Metanduno cave on Muna Island. Researchers say the finding, ...
The faint outline of a hand in a cave in Indonesia ’s Sulawesi has been recognised as the world’s oldest known rock art , shattering a long-held scientific theory that human artistic expression first flourished in Ice Age Europe. Dating back at least 67,800 years, the faded stencil was found hiding beneath a more recent chicken sketch in Metanduno cave on Muna Island. Researchers say the finding, which was published in the scientific journal Nature on January 21, proves that ancient humans in Southeast Asia were already capable of reflecting on their existence and leaving intentional marks of meaning behind. Advertisement Dr Adhi Agus Oktaviana, a rock art specialist from Indonesia’s National Research and Innovation Agency (BRIN), first spotted the hand stencil in 2015, its faint traces nearly obscured. Scientist Adhi Agus Oktaviana studies handprints on the walls of a cave in Sulawesi, Indonesia. Photo: Maxime Aubert/AP Four years later, he collected a sample that scientists at Griffith University in Australia subsequently determined predated all previously known rock paintings by at least 15,000 years.
This is the forum for daily political discussion on Seeking Alpha. A new version is published every market day. Please don't leave political comments on other articles or posts on the site. The comments below are not regulated with the same rigor as the rest of the site, and this is an 'enter at your own risk' area as discussion can get very heated. If you can't stand the heat... you know what the...
This is the forum for daily political discussion on Seeking Alpha. A new version is published every market day. Please don't leave political comments on other articles or posts on the site. The comments below are not regulated with the same rigor as the rest of the site, and this is an 'enter at your own risk' area as discussion can get very heated. If you can't stand the heat... you know what they say... More on Today's Markets: Moderation Guidelines: We remove comments under the following categories: Personal attacks on another user account Anti-Vaxxer or covid related misinformation Stereotyping, prejudiced or racist language about individuals or the topic under discussion. Inciting violence messages, encouraging hate groups and political violence. Regardless of which side of the political divide you find yourself, please be courteous and don't direct abuse at other users. For any issue with regards to comments please email us at : moderation@seekingalpha.com. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Applied Digital stock has delivered a 373% return for investors over the past 12 months. As a developer and owner of artificial intelligence (AI) data centers, Applied Digital (APLD +25.52%) is literally at the center of the AI boom. In 2025, Applied Digital was one of the top stocks, returning about 221%. This year, it has already gained a staggering 41% as of Feb. 3, trading at more than $35 per...
Applied Digital stock has delivered a 373% return for investors over the past 12 months. As a developer and owner of artificial intelligence (AI) data centers, Applied Digital (APLD +25.52%) is literally at the center of the AI boom. In 2025, Applied Digital was one of the top stocks, returning about 221%. This year, it has already gained a staggering 41% as of Feb. 3, trading at more than $35 per share. In a span of just 13 months it has been a five-bagger -- increasing roughly fivefold from around $7 per share at the start of 2025. Can it keep going higher? Let's take a look. 250% revenue growth Applied Digital posted its second-quarter earnings on Jan. 7, and the stock shot some 24% higher on its strong results. Revenue increased 250% year over year to $127 million, while it narrowed its net loss to $37 million, or $0.22 per share. That was considerably improved from a $0.63-per-share loss in the same quarter a year earlier. Expand NASDAQ : APLD Applied Digital Today's Change ( 25.52 %) $ 7.11 Current Price $ 34.95 Key Data Points Market Cap $9.8B Day's Range $ 29.24 - $ 35.09 52wk Range $ 3.31 - $ 42.27 Volume 45M Avg Vol 32M Gross Margin 16.40 % The AI data center developer energized its Polaris Forge 1 facility in North Dakota, the first of three buildings being built on that campus. It has been contracted out to CoreWeave for 15 years in an $11 billion agreement. It also inked a 15-year lease with a U.S.-based hyperscaler for 200 megawatts (NW) of AI and high-performance computing capacity at Polaris Forge 2, which is under construction and expected to open in 2026. This deal will generate another $5 billion in revenue for Applied Digital. The company anticipates full capacity at Polaris Forge 2 in early 2027. Then a third facility will be online at Polaris Forge in 2027. It also has two other facilities in North Dakota that are at full capacity and handle mostly crypto mining operations for customers. But the Polaris Forge campus is built for AI and HPC comp...
Torsten Asmus/iStock via Getty Images The bond market is exceptionally quiet right now. Juxtapose the 10-year yield price action with the volatile macro backdrop, and cross-asset trends and storylines are really quite breathtaking. The US benchmark interest rate ended last week right on a key long-term support/resistance level. 4.20% has proven to be a bull/bear battleground, and its next move cou...
Torsten Asmus/iStock via Getty Images The bond market is exceptionally quiet right now. Juxtapose the 10-year yield price action with the volatile macro backdrop, and cross-asset trends and storylines are really quite breathtaking. The US benchmark interest rate ended last week right on a key long-term support/resistance level. 4.20% has proven to be a bull/bear battleground, and its next move could lay the groundwork for the S&P 500’s ultimate 2026 trend. Today, I’m revisiting the most widely followed broad domestic fixed income gauge—the iShares Core US Aggregate Bond ETF ( AGG ). I had a buy rating on the low-cost index fund back in November of 2024 . I called out its near-5% yield amid falling short-term Treasury yields. It has returned more than 7% since then, beating money markets. Today, I reiterate a buy rating. Long the product myself, I see positive real returns in the future, all while the Fed policy rate could inch closer to 3%. 10-Year Yield Steady at 4.20% StockCharts.com According to the issuer , AGG seeks to track the investment results of an index composed of the total U.S. investment-grade bond market. The ETF is a cost-effective fund for broad exposure to domestic Treasury securities and Investment Grade credit and can be used as a core holding for diversified portfolios seeking to balance risk and return while pursuing an income focus. Stepping back, AGG’s implied volatility has fallen to below 4%--near the lowest in many years. The $138 billion AUM fund sports a low 3-basis-point annual expense ratio and is priced to yield 4.4% . AGG Implied Volatility Sinks to 4% Fidelity Investments Treasury volatility as a whole hovers near the softest levels going back almost five years. It’s clear that the US bond market seems to think it’s in a good position. While there were “sell America” fears, as evidenced by the swarm of bond vigilantes who delivered a scare to the global stock market last April and May, macro conditions have quieted down in a hurry a...
Key Points QQQ leans heavily into technology and has delivered a higher 1-year return but comes with higher risk and a lower dividend yield SPY tracks the broad S&P 500, offering greater sector diversification and a lower expense ratio Both ETFs are extremely liquid, but QQQ’s max drawdown and volatility run higher than SPY’s 10 stocks we like better than Invesco QQQ Trust › State Street SPDR S&P ...
Key Points QQQ leans heavily into technology and has delivered a higher 1-year return but comes with higher risk and a lower dividend yield SPY tracks the broad S&P 500, offering greater sector diversification and a lower expense ratio Both ETFs are extremely liquid, but QQQ’s max drawdown and volatility run higher than SPY’s 10 stocks we like better than Invesco QQQ Trust › State Street SPDR S&P 500 ETF Trust (NYSEMKT:SPY) and Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) differ most in sector concentration, risk profile, and cost, with QQQ charging a higher fee and focusing more on technology stocks. Both the State Street SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust, Series 1 (QQQ) are giants among United States exchange-traded funds, each tracking a large-cap index but with distinct portfolios and risk-return tradeoffs. This comparison outlines how the two ETFs stack up on cost, performance, sector tilts, liquidity, and portfolio construction to help investors evaluate which may better fit their strategy. Snapshot (Cost & Size) Metric SPY QQQ Issuer SPDR Invesco Expense ratio 0.09% 0.20% 1-yr return (as of 2026-02-04) 14.0% 15.5% Dividend yield 1.1% 0.5% AUM $709.2 billion $405.7 billion Beta measures price volatility relative to the S&P 500; beta is calculated from five-year weekly returns. The 1-yr return represents total return over the trailing 12 months. SPY looks more affordable, charging about half the annual expense ratio of QQQ, while also offering a higher dividend yield. QQQ’s higher fee and lower payout may matter to cost-focused or income-oriented investors. Performance & Risk Comparison Metric SPY QQQ Max drawdown (5 y) (24.49%) (35.12%) Growth of $1,000 over 5 years $1,770 $1,828 What's Inside QQQ tracks the NASDAQ-100 Index, tilting heavily toward technology (55% of assets), with communication services and consumer cyclical sectors making up most of the rest. The fund holds 102 stocks, with the largest allocations to NVIDIA Corp (NASDAQ:NVDA)...
J Studios/DigitalVision via Getty Images Market Brief – Market Volatility Returns Markets stumbled into February, a historically weak month. February tends to deliver modest returns, with average performance trailing the stronger gains typically seen in January and March. Seasonal tailwinds, such as earnings season and new-year fund flows, begin to fade, while macro headwinds, such as tightening l...
J Studios/DigitalVision via Getty Images Market Brief – Market Volatility Returns Markets stumbled into February, a historically weak month. February tends to deliver modest returns, with average performance trailing the stronger gains typically seen in January and March. Seasonal tailwinds, such as earnings season and new-year fund flows, begin to fade, while macro headwinds, such as tightening liquidity or policy uncertainty, often reemerge. February also lacks the retail-driven momentum of the holiday season, leading to lower volume and more volatile price action. Investors should be cautious, as February has a track record of chopping sideways or pulling back before spring’s broader recovery patterns take hold. The good news is that both the first 5 days and the month of January were positive. As shown, when January’s performance is positive, the rest of the year has been positive 87% of the time. However, that does not mean there can’t be bumps along the way. Returning our focus to this past week, it was Technology stocks that led the decline, along with precious metals, particularly silver, and cryptocurrencies. While headlines suggested a combination of earnings guidance and rising capital spending triggered the sharp reversal in sentiment, it was most likely margin calls from leveraged longs in the metals and crypto markets that bled over into the stock market. While the decline in the technology stocks was notable, the earnings reports were very strong and certainly didn’t justify the price declines. For example, Alphabet ( GOOG ) reported solid revenue but shocked investors with a $50 billion AI capex plan. That raised concerns about future margins and capital discipline, leading the stock to decline by 6%. Amazon ( AMZN ) also exceeded earnings and revenue estimates by a hefty margin, with revenue rising 14%. But as with GOOG, the $200 billion capex commitment was noted as the reason for the 8% decline. Another area of significant weakness was in software...
Last spring, the National Security Agency (NSA) flagged an unusual phone call between two members of foreign intelligence, who discussed a person close to Donald Trump, according to a whistleblower’s attorney who was briefed on details of the call. The highly sensitive communique, which has roiled Washington over the past week, was brought to the attention of the director of national intelligence ...
Last spring, the National Security Agency (NSA) flagged an unusual phone call between two members of foreign intelligence, who discussed a person close to Donald Trump, according to a whistleblower’s attorney who was briefed on details of the call. The highly sensitive communique, which has roiled Washington over the past week, was brought to the attention of the director of national intelligence (DNI), Tulsi Gabbard. But rather than allowing NSA officials to distribute the information further, Gabbard took a paper copy of the intelligence directly to the president’s chief of staff, Susie Wiles, according to the whistleblower’s attorney, Andrew Bakaj. One day after meeting Wiles, Gabbard told the NSA not to publish the intelligence report. Instead, she instructed NSA officials to transmit the highly classified details directly to her office, Bakaj said. Details of this exchange between Gabbard and the NSA were shared directly with the Guardian and have not been previously reported. Nor has Wiles’s receipt of the intelligence report. On 17 April, a whistleblower contacted the office of the inspector general alleging that Gabbard had blocked highly classified intelligence from routine dispatch, according to Bakaj, who has been briefed on details surrounding the highly sensitive phone call flagged by the NSA. The whistleblower filed a formal complaint about Gabbard’s actions on 21 May, Bakaj said. The Guardian reported earlier Saturday that the phone conversation was between a person associated with foreign intelligence and a person close to Trump, based on Bakaj’s recollection of the complaint, which he confirmed over multiple calls. However, after publication, Bakaj said he misspoke. He clarified his understanding of the complaint in a statement: “The NSA picked up a phone call between two members of foreign intelligence involving someone close to the Trump White House,” he said. “The NSA does not monitor individuals without a reason.” The person close to Trump is no...
The beginning of the year saw the start of a transition to the new issuer. Early 2026 saw a new chapter in Apple's venture into consumer finance, when banking giant JPMorgan Chase (JPM +3.95%) was chosen as the new issuer of the tech company's Apple Card. It's taking over the job from Goldman Sachs. Goldman said that stepping down from the product will help it narrow its business focus. Will takin...
The beginning of the year saw the start of a transition to the new issuer. Early 2026 saw a new chapter in Apple's venture into consumer finance, when banking giant JPMorgan Chase (JPM +3.95%) was chosen as the new issuer of the tech company's Apple Card. It's taking over the job from Goldman Sachs. Goldman said that stepping down from the product will help it narrow its business focus. Will taking it on benefit JPMorgan Chase, or might Apple Card become an albatross dragging down its fundamentals and stock price? Not your typical issuer Before I tackle that question, I should clarify the meaning of the term "issuer" for those unfamiliar with it. Typically, this is not, as some think, the name or brand stamped on the card; rather, it's the entity that is actually extending the credit to the user. Issuers tend to be banks because, of course, lending money in various ways is the core of their business. This is why Goldman was something of an anomaly with the Apple Card; it's historically functioned as an investment bank, not a traditional lender. In the mid-2010s, it decided to try its hand at consumer banking, but the effort was clunky, and it couldn't differentiate itself enough from a sea of competitors. In 2022, it started to retreat from the attempt. The handover of Apple Card, which all involved parties estimate will take around two years, is one of the last backward steps. Adding to a large pile The issuer-to-be is indisputably qualified for the position. In fact, Chase is the largest card issuer in this country by total credit card purchase volume. All told, recent data indicates that Chase provides the credit for roughly 150 million cards. The most recent figures I can find for the Apple Card, gleaned from an April 2025 article on Investing.com, indicate that the cool white rectangle was held by over 12 million users. While that's not exactly a drop-in-the-bucket addition to Chase's existing stack, it's not a dramatic expansion, either. Expand NYSE : JPM JPMo...