This was a week of landmark moves across global and local markets.
Apple (NASDAQ: AAPL) debuted its first foldable phone and split its iPhone launch cadence for the first time in seven years, while Qualcomm (NASDAQ: QCOM) secured a massive AI data centre partnership with Amazon.com (NASDAQ: AMZN).
Closer to home, Sembcorp Industries (SGX: U96) walked away from a solar farm acquisition in the Philippines, and Mapletree Logistics Trust (SGX: M44U) broke new ground with its first offshore renminbi bond issuance.
A foldable debut and split launch reshape Apple’s product cycle
Apple unveiled its first foldable phone, the iPhone Duo, and the iPhone 18 Pro at a 9 September launch event – the first showcase led by new CEO John Ternus.
The iPhone Duo starts at US$1,999, powered by Apple’s second-generation C2 modem, which is 50% faster than its predecessor while consuming 15% less energy.
The bigger story for investors, however, is what was absent: a standard iPhone 18.
Analysts expect Apple to release the mainstream model at a separate spring event, marking the first time in seven years that the company has split its launch cadence.
The shift could help smooth revenue across quarters, though Bank of America (NYSE: BAC) cautioned that price-sensitive buyers may defer upgrades until the lower-priced model arrives.
The iPhone 18 Pro starts at US$1,199, a US$100 increase over its predecessor.
A US$4 billion warrant deal underscores Qualcomm’s data centre push
Qualcomm announced a data centre infrastructure partnership with Amazon Web Services, issuing warrants for Amazon to acquire 25 million Qualcomm shares at US$161.26 each – roughly US$4 billion in total.
The warrants vest in tranches tied to commercial milestones and the purchase of up to US$60 billion worth of Qualcomm server chips and related technology, expiring on 3 September 2036.
The deal bolsters Qualcomm’s push to challenge Nvidia (NASDAQ: NVDA) in the AI chip market.
The chipmaker unveiled a data centre CPU called Dragonfly C1000 in June and is targeting US$15 billion in data centre revenue by fiscal 2029.
Bank of America estimates the broader CPU market could more than double from US$27 billion in 2025 to US$60 billion by 2030.
Qualcomm shares rose 3% on the announcement.
Sembcorp walks away from a Philippine solar farm acquisition
Sembcorp Industries has terminated its S$105 million deal to acquire Philippine solar farm developer Puente Al Sol, citing prevailing market conditions and evolving strategic priorities.
The Singapore-based energy company had originally agreed to purchase Puente Al Sol from CleanCurrent Renewable Energy in January 2025.
Puente Al Sol is developing a 96-megawatt solar farm in Cadiz, Philippines.
Sembcorp said the termination was reached by mutual agreement and reiterated its commitment to a disciplined investment approach.
The group holds 21.8 gigawatts (GW) of gross renewable energy capacity across installed and committed projects, targeting 25 GW of installed capacity by 2028.
Sembcorp noted the termination is not expected to have a material impact on its earnings per share or net tangible assets per share for FY2026.
Shares closed at S$6.19 on 9 September, before the announcement.
Mapletree Logistics Trust taps the offshore renminbi market
Mapletree Logistics Trust, or MLT, has priced its inaugural dim sum bond – a 500 million yuan (US$74.5 million) offshore renminbi issuance bearing a coupon of 2.1% per annum.
Proceeds from the three-year bond will fund general corporate purposes, including refinancing existing borrowings.
Fitch Ratings assigned the bond a long-term rating of BBB+, in line with MLT’s issuer default rating.
Dim sum bonds are yuan-denominated debt securities issued outside mainland China, allowing international issuers to access Chinese currency without navigating the mainland’s stringent financial regulations.
CEO Jean Kam said the issuance enhances the trust’s financial flexibility and diversifies its funding sources.
The move follows Singapore Airlines (SGX: C6L), which tapped the offshore renminbi market in June, reflecting a broader trend of global issuers seeking lower borrowing costs in China.
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