I need both Apple (AAPL) and Microsoft (MSFT) to compare their capital expenditures. Let me find their tickers (AAPL is confirmed) and load the data.Good, I have the data. Now let me compute annual summaries with both raw capex and year-over-year growth, then show them as a table and chart.Now let me also chart this. I need a wide DataFrame for charting.
Loading chart...Apple vs Microsoft — Annual Capital Expenditures (FY 21–25)
| Ticker |
FY |
CapEx |
YoY Growth |
| AAPL |
21 |
$11.1B |
— |
| AAPL |
22 |
$10.7B |
–3.4% |
| AAPL |
23 |
$11.0B |
+2.3% |
| AAPL |
24 |
$9.4B |
–13.8% |
| AAPL |
25 |
$12.7B |
+34.6% |
| MSFT |
22 |
$23.9B |
— |
| MSFT |
23 |
$28.1B |
+17.7% |
| MSFT |
24 |
$44.5B |
+58.2% |
| MSFT |
25 |
$64.6B |
+45.1% |
Key Takeaways:
- Microsoft's capex has exploded — $23.9B in FY22 to $64.6B in FY25, a 170% increase over three years, driven by massive AI/cloud infrastructure investment. The last two years alone grew at 58% and 45% YoY.
- Apple's capex has stayed relatively flat, hovering around $10–12B annually, consistent with its asset-light model where manufacturing is outsourced. FY25's jump to $12.7B (+35%) is notable but still a fraction of Microsoft's spend.
- Microsoft now outspends Apple on capex by ~5x — a dramatic gap that reflects the fundamentally different business models: Microsoft builds hyperscale data centers; Apple designs products others manufacture.