For the first time in 16 years, Apple expects its capital expenditures (capex) to decline during the current fiscal year. Episode 143 is dedicated to discussing capex and how the financial metric provides a different look at how Apple is unique in comparison to its largest peers. Additional topics include defining capex, the theories behind Apple’s declining capex, the dramatic capex shift occurring among the Wall Street giants, and how capex shines light on a company’s cash-generating machine. Receive my analysis and perspective on Apple throughout the week by becoming an Above Avalon member and receiving exclusive daily updates. To become a member, visit AboveAvalon.com/membership.