Big Tech capex up 5-8x since 2023, but Apple spends 20% less than pre-AI boom
FinanceYF5 · x · 2026-11-09
A chart comparison shows Alphabet, Microsoft, Amazon and Meta have grown capex 5–8x since Q1 2023, with capex-to-revenue ratios climbing steadily (Meta nearing 50%+). Apple is the lone outlier, spending 20% less on capex than before the AI boom and keeping it at a low single-digit share of sales. The author asks whether this restraint will pay off or cost Apple dearly.
Related event: Apple Cuts Capex 20% as AI Rivals Ramp Up Spending(2 posts)→
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