المنشور

It never made sense to me why $AMZN rallied 15% after raising CapEx at a similar pace to $GOOGL. So far, though, the market seems to be rewarding the combination of GCP growing 82% YoY, $MSFT Azure growing 43% YoY, and AWS growing 37% YoY. Expanding operating margins while increasing CapEx is a sign of efficiency and scalability. A reduction in CapEx would actually be a bearish signal.