The disagreement came after Goldman Sachs analyst Rod Hall criticized Apple’s accounting methods for the tech giant’s new TV+ product, saying in a research note that it may result in lower gross margins and profits
In response, Apple said it does “not expect the introduction of Apple TV+, including the accounting treatment for the service, to have a material impact on our financial results.” Goldman Sachs has underwritten more bond issuances for Apple in the last decade than any other investment bank, worth some $44 billion, according to financial data provider Refinitiv.
Every bank formally separates its equity research and investment bank divisions because of laws passed in the early 2000s that aimed to protect the independence of the equity analysts from investment bankers, who are often covering the same companies with different agendas.
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