Gene Munster
2026.02.05 21:27

More capex is a good thing for both the companies that are spending more and the broader AI trade. Market disagrees with me.

$Amazon(AMZN.US) capex growth in 2026 projected to be 54%. Whisper was it was going to 40% up from 18% in-print.

Here’s where we stand if they hit the high end of the capex guide this year.

GOOG up 108%- Previous 30%

META up 80% - Previous 54%

AMZN up 54% - Previous 18%

MSFT up 35% - Previous 30%

My takeaway. With AMZN down 7%, the market is largely missing the point.

Source: Gene Munster

The copyright of this article belongs to the original author/organization.

The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.