(Nov 5): Apple Inc is planning to raise about US$7 billion (RM28.33 billion) from its first investment-grade bond offering in more than a year to help fund share buybacks, adding to a flurry of debt issuance by US technology heavyweights.

No final decision has been made on the size of the sale, which may still change depending on investor demand, according to people familiar with the matter. Proceeds from the offering are set to be used for general corporate purposes, including stock buybacks, dividends and capital expenditures, the people said.

The iPhone maker is selling debt in seven tranches, with maturities ranging from two to 10 years, the people added, asking not to be identified because they’re not authorised to speak publicly. Initial price talk on the longest tenor is a spread of 0.8 percentage point over Treasuries, the person added. 

“Apple’s return to the bond market appears more opportunistic than funding-driven, raising proceeds available for buybacks and dividends,” said Bloomberg Intelligence analyst Robert Schiffman. For Apple, “shareholder returns remain a greater capital priority than the massive AI infrastructure spending confronting hyperscaler peers”.

The move follows a flurry of Big Tech debt issuance, with Microsoft Corp, Oracle Corp and Meta Platforms Inc raising a combined US$50 billion in the US market since last week as part of efforts to fund their investments in artificial intelligence infrastructure. 

Those deals have come with juicier yields, as investors demand added compensation amid growing scepticism about whether the AI-focused spending spree will pay off. 

Apple last sold bonds in May 2025, when it raised US$4.5 billion. 

Bank of America Corp, Deutsche Bank AG, Goldman Sachs Group Inc and JPMorgan Chase & Co are managing the transaction, the people added. 

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