Big Tech Reinvestment
$AAPL $AMZN $GOOG $META $MSFT reinvestment rates through the years. $META has the highest R&D as a percentage of revenue and $AAPL has the lowest, while $AMZN $GOOG, and $MSFT all have similar percentages.
The order is similar for CAPEX as a percentage of revenue as well.
$META metaverse spend is clear in these graphics.