The Mag 7 spending around $700B on capex this year, expected around a trillion next year.

That's more than their combined FCF, and they're borrowing to bridge the gap.

One is not spending anything out of the ordinary up until this point in comparison to their competition. But the Apple Silicon design group might start spending some money on something practical, something that might begin the typical Apple long-range process of replacing two or three existing companies within their current supply chain, but that’s nothing new over the last 25 years.

	▲	toomuchtodo 2 hours ago \| parent [-]
		It is a bit unfair to lump Apple in with everyone else in the Mag7, as their strategy is arguably reasonable and prudent for the current position of the hype circle. Apple Silicon was a spectacular decision and investment. Everyone else has lost their damn mind.