30 Oct 2025

Very important read-through of yesterday's mega cap tech earnings ➡️

Hyperscaler CapEx remains sky-high: • $GOOGL: FY $91–93B (vs $85B est) • $MSFT: Q1 $34.9B (vs $30B est) • $META: Expects higher CapEx in 2026 Note that Google raises 2025 Capex for the second time this year: “With the growth across our business and demand from Cloud customers, we now expect 2025 capital expenditures to be in a range of $91 billion to $93 billion." BULLISH 🚀 Source: Investing visuals @InvestingVisual Michael Horner @michaelbhorner

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