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Apple and other tech giants are outspending legacy companies on infrastructure

September 26, 2018

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According to a report this week by Bloomberg Businessweek, the five biggest tech companies in the U.S. —Apple, Alphabet/Google, Amazon, Facebook and Microsoft — spent a total of $80 billion in the last year on “big-ticket physical assets,” a category that includes manufacturing equipment, specialized tools for product assembly, real estate investments, and even physical cables.

This is not only a surge in infrastructure spending from 2015, when the companies spent $40 billion, but it places them ahead of many old-economy firms, such as oil and automotive companies.

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