To The Moon

🧩 NVIDIA's earnings ahead, forecasts mostly optimistic.

🔍 $BRC ASIA LIMITED(BEC.SI)$ / $Bumitama Agri(P8Z.SI)$ / $GuocoLand(F17.SI)$ : Top gainers continue to lead the market rally.

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Riding High

🧠 Early this week, $Food Empire(F03.SI)$ and $Thakral(AWI.SI)$ posted significant gains, as featureed in the Aug 20 episode of Dividend Picks.

NVIDIA’s Q2 earnings report will be unveiled post-market on Wednesday. Consensus estimates project revenue of $46 billion, up 53% year-over-year, and EPS reaching $0.935, a 39.51% increase.

Key focus areas include future growth drivers, gross margin sustainability, and the far-reaching impact of the Chinese market. Consider monitoring more resilient companies in the same sector, such as $CoreWeave, Inc.(CRWV)$ , $Marvell Technology(MRVL)$ , and $Astera Labs, Inc.(ALAB)$ .

| IPO Heat in Singapore

Since 2025, Singapore’s capital markets have been heating up, with the IPO scene showing signs of recovery. Over 30 companies are currently planning listings on the SGX. Following Vin’s Holdings in the first half of the year, firms such as $NTT DC REIT USD(NTDU.SI)$ , $Info-Tech(ITS.SI)$ , $Dezign Format(UZF.SI)$ , and $Lum Chang Creat(LCC.SI)$ have initiated their IPO processes. Additionally, $LHN(41O.SI)$ and $YZJ Fin Hldg(YF8.SI)$ announced plans to spin off their subsidiaries for public listing.

Singaporean companies listed overseas have also delivered strong performances. Singapore-based biotech company $MIRXES-B(02629)$ , listed on the Hong Kong Stock Exchange in May, was included in $HSI(HSI)$ starting September 8. Its stock price has risen significantly this year, gaining over 50% compared to its IPO price of HKD 23.3. On U.S. markets, $Super X AI Technology Limited(SUPX)$ and $Karooooo Ltd.(KARO)$ have also seen impressive growth, with year-to-date gains of 1558% and 13%, respectively.

This year, F03 and AWI have shown significant upward momentum, leading the Singaporean market. This week, we continue to spotlight strong-performing dividend stocks, including 🔍 $BRC ASIA LIMITED(BEC.SI)$ / $Bumitama Agri(P8Z.SI)$ / $GuocoLand(F17.SI)$ .

| Market recap

On August 27, U.S. stocks opened lower but rebounded to close with modest gains, lifting the gloom. $NASDAQ(.IXIC)$ rose 0.44%, while $S&P 500(.SPX)$ was up 0.41%.

Big techs mostly regained lost ground, with $Tesla Motors(TSLA)$ and $NVIDIA(NVDA)$ gaining over 1%. Among large caps, $Eli Lilly(LLY)$ surged nearly 6% (see below).

Megacaps - Big days ahead

NVDA: Q2 earnings preview

With its earnings release just 12 hours away, market sentiment remains optimistic. However, given the high expectations, sensitivity to the report is elevated, warranting close attention to potential shifts in guidance.

Consensus estimates project Q2 revenue of $46 billion, up 53% year-over-year, with EPS at $0.935, a 39.51% increase. A blockbuster report is widely anticipated, with focus areas including:

1. AI data center expansion as a driver of future growth.

2. Sustaining a gross margin of 75%, which is tied to high-end chip sales.

3. The impact of China’s market conditions, including potential alternatives to the H20 chip.

On August 25, NVIDIA introduced the Jetson AGX Thor, a powerful new supercomputer designed for robotics, with a starting price of $3,499. The AI computing capacity of this “new brain” is 7.5 times higher than its predecessor, while energy efficiency has improved by 3.5 times. This substantial technological leap allows robots to perform human-like reasoning, leveraging prior knowledge, physical understanding, and common sense to better interpret and interact with the real world.

AAPL: Countdown to iPhone 17

$Apple(AAPL)$ is set to host its major fall product launch on September 9, themed “Awe Dropping,” where the iPhone 17 lineup will be unveiled.

In response, Apple’s longtime rival in China, Huawei, has announced its own event on September 4 to introduce the Huawei Mate XTs, a new flagship foldable phone, along with a range of other products.

In 2024, Huawei’s ambitious triple-fold Mate series directly challenged Apple’s iPhone 16, sparking a consumer frenzy. This year’s cellphone competition is now underway, with results expected to emerge soon.

Asian markets

In China’s A-shares market, $Cambricon Technologies Corporation Limited(688256)$ surged after delivering its best-ever interim financial report, but gains narrowed by the close.

Dubbed the “NVIDIA of China,” this AI chipmaker achieved a remarkable RMB 2.881 billion in revenue for the first half of the year, soaring 4348% year-over-year, and turned profitable. Driven by this stellar performance, Cambricon’s stock has skyrocketed, breaking the RMB 1,000 per share barrier and reaching a market capitalization of RMB 500 billion.

Goldman Sachs has issued an aggressive buy rating, raising Cambricon’s 12-month price target by 50% to RMB 1,835.

Like NVIDIA, Cambricon holds significant weight in major indices and ETFs, further fueling its stock price rally. For example, it accounts for 14.47% of the STAR 50 ETF ( $CHINA SHANGHAI STOCK EXCHANGE SCIENCE AND TECHNOLOGY INNOVATION BOARD 50 COMPONENT TRADING OPEN INDEX SECURITIES INVESTMENT FUND(588000)$ ) and 9.98% of the Chip ETF ( $HUAXIA GUOZHENG SEMICONDUCTOR CHIP TRADING OPEN INDEX SECURITIES INVESTMENT FUND(159995)$ ).

Top movers

• $Eli Lilly(LLY)$ surged nearly 6% after its oral GLP-1 receptor agonist, Orforglipron, achieved positive results in a Phase 3 trial for obesity with Type 2 diabetes.

• $EchoStar(SATS)$ soared over 70% following a $23 billion deal to sell spectrum licenses to T, avoiding bankruptcy and addressing regulatory issues surrounding radio spectrum usage.

• $Semtech(SMTC)$ jumped over 16%, hitting a six-month high as the company posted record net sales and significantly reduced its debt in Q2.

| Dividend Plays: Top of the List, Part II

A solid business foundation is a key driver of high dividend yields. Year-to-date, dividend stocks with notable price gains include 🔍 $BRC ASIA LIMITED(BEC.SI)$ / $Bumitama Agri(P8Z.SI)$ / $GuocoLand(F17.SI)$ .

BEC

$BRC ASIA LIMITED(BEC.SI)$ specializes in prefabricated steel reinforcement for concrete, serving both Singapore and international markets such as Australia, Brunei, Hong Kong, Indonesia, Malaysia, Thailand, and India.

BRC Asia’s dividend payments have been volatile over the past decade but have shown growth during this period. Investors can expect a payment of SGD 0.06 per share on November 14.

P8Z

$Bumitama Agri(P8Z.SI)$ is an investment holding company focused on the production and trading of crude palm oil and palm kernel in Indonesia. Revenue for Bumitama Agri Ltd. mainly comes from its Plantations and Palm Oil Mills segment, which generated IDR 16.73 trillion in 1HFY2025.

Bumitama’s strong performance has been supported by stable global palm oil prices, which remain elevated amid intense geopolitical tensions. The interim dividend is scheduled for August 28.

F17

Founded in 1976, $GuocoLand(F17.SI)$ specializes in the development of residential and commercial real estate projects.

At the launch of GuocoLand’s Springleaf Residence, 870 units were sold over the weekend, achieving an impressive 92% take-up rate – the best new launch performance in terms of units sold during launch. The project is located on a rare 3.2-hectare site and is the first high-rise condominium in the precinct. Its average price of SGD 2,175 psf was competitive compared to recent transactions in the mass-market segment.

The sustained sales momentum of GuocoLand’s recent launches since July 2025, coupled with lower interest rates and revised GDP forecasts by MTI, has boosted buyers’ confidence in the property market.

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