When capital expenditures exceed depreciation the firm is said to be working in increasing assets, the spending on new projects, most due to AI GOOG is spending 2 times depreciation, an incredibly high number especially for a behemoth like that. They just released earnings and investots don't seem concerned about these outlays future performance. The thing is, they can't keep spending like this for ever, investors have given them a pass so far. Whatever.
Not to be out done is Meta, spending an insane 3 times depreciation. Zuckiemonster has hopped out of his garbage can and is gobbling up everything Jensen has to offer. GOBBLE! GOBBLE!GOBBLE. They are really going overboard, how much longer can it last. I'll be looking for some margin deterioration when they announce earnings. Like GOOG they also must still sell ads in a slowing economy. JMHO
Maybe just the magnificent 1,AAPL?