A New Capex?

A New Capex?

In recent years, many companies and industries have been skimping on traditional capital expenditures in favor of high-tech investments in modernization and automation tools. Here, we explore this trend and the implications it may have for investors.
The Rise of Higher-Tech Capex: Implications Beyond the Bottom Line
The Rise of Higher-Tech Capex: Implications Beyond the Bottom Line
Technology is reshaping corporate capital expenditure programs. Despite the aging of business infrastructure, healthy top-line revenue and ample financial resources, corporations around the world have been reluctant to increase their capital expenditures in recent years. Reasons for this reluctance include relatively low capacity utilization rates and better returns through spending on buybacks and other types of financial engineering. But we believe another reason for lower traditional capex — and one largely ignored by sell-side analysts — is the rise of spending on high-tech productivity improvements, which in addition to reshaping capex, will have broad implications for investors.
The Digital Revolution: FAANG Was Just the First Bite
The Digital Revolution: FAANG Was Just the First Bite
The digital revolution is affecting nearly all businesses; looking forward, many more companies are likely to benefit from employing advances in areas including data analytics, data transfer and wireless communication—non-tech companies included. Investors need not overweight the tech sector to ride this wave.
The Fourth Industrial Revolution and the New Norm
The Fourth Industrial Revolution and the “New Norm”
A new capex cycle is emerging in which traditional investment for raw capacity is yielding to new high-tech investments, ushering a new industrial revolution. Learn where we are finding opportunity across asset classes as the gap widens between winners and losers.