The CEO of Goldman Sachs thinks the agreement with Apple may terminate before 2030.

Goldman CEO David Solomon stated on Wednesday that the company’s credit card relationship with Apple may terminate before its 2030 deal expires.

“We have an agreement with Apple to maintain that collaboration through 2030, but there’s a chance it won’t last until then,” Solomon said analysts during an earnings call.

Goldman’s return on equity was lowered by 75 to 100 basis points last year due to the Apple card, but he stated that “that will improve in 2025 and 2026.”

Goldman’s platform solutions division, where the company is based, reported a $859 million yearly net loss in 2024.

Reuters reported in September that JPMorgan Chase is in discussions with Apple to replace Goldman Sachs as the tech company’s credit card partner, according to a source with knowledge of the situation.