This isn’t Apple arbitrarily slashing rates, nor is it really a warning about trusting tech companies too much. The Apple Savings account is administered by Goldman Sachs, and like all US banks, its rates follow macroeconomic policy, mainly the Federal Reserve’s target rate and the Interest on Reserve Balances. When the Fed cuts, banks earn less on reserves and adjust savings APYs accordingly to preserve margins. This isn’t a big tech thing. It’s just how banking works now. High-yield savings accounts fluctuate with the overall interest rate. The only rate that doesn’t change is the 0% return on cash stuffed under a mattress.