Alphabet Fell 12% and Microsoft Held: The Capex Math
Short answer: Alphabet and Microsoft both roughly doubled quarterly capital spending, yet Alphabet shares fell about 12% on October 29, 2026 while Microsoft ended the week down 0.5%, per CNBC. The split is cash. Alphabet’s Q3 2026 release shows $51.4 billion of capex against $42.3 billion of operating cash flow, so free cash flow was…
