Bar chart of capex as a share of revenue over the last four quarters. Meta is highest at 43.2%. Apple is lowest of the Magnificent Seven at 1.8%, about $9.0 billion.

Apple spent 1.8% of its revenue on capital expenditures over the last four reported quarters, the lowest share in the Magnificent Seven.

That works out to about $9.0 billion of capex on $478.8 billion of revenue.

Meta spent the most relative to sales, 43.2%, or $104.4 billion.

Amazon spent the most in dollars, $215.1 billion.

Here is capex as a share of revenue for each company.

  • Meta 43.2%

  • Microsoft 39.2%

  • Alphabet 33.9%

  • Amazon 26.9%

  • Tesla 14.8%

  • Nvidia 2.4%

  • Apple 1.8%

Four of the 7 spent more than a quarter of their sales on capex.

More company comparisons are in the Opening Bell charts hub.

Apple is letting the rest of Big Tech foot the bill for the AI buildout.

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Phil Rosen
Phil Rosen

Phil Rosen is co-founder and CEO of Opening Bell Media and chief market strategist for Silvia Inc. (NASDAQ: SVIA). He hosts Full Signal and writes Opening Bell Daily — the markets briefing read by over 200,000 investors and published on Bloomberg Terminals — and has also published two books and won a Fulbright award for his reporting. Contact him at [email protected].

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