---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000456325.md"
description: "I see a buying opportunity in big tech names that have been hammered because of outsized 2026 capex forecasts.  Here are some charts from today’s FT showing what’s happened.  I see a buying opportunity because:1/ Now is the beginning of the year, and capex budgets always start high and then shrink as the year progresses as companies decide they don’t need all that investment; 2/ Unlike normal operating costs, Capex gets amortized normally over 5 years and so the expenditure doesn’t hit the P&L all at once. Most of the companies shown packaged their FY’26 capex forecasts with FY’26 profit forecasts so investors could see the current year impact on profits;  3/ There will be an awakening by tech CEOs that much of this capex splurge won’t pay off — i.e., ROI will fall short of the cost of capital — as everyone is betting on the same AI payoff, and not everyone will win.  Once this realization occurs future capex plans will be scaled back."
datetime: "2026-02-06T16:27:26.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000456325.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000456325.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000456325.md)
author: "[Gary Black Tracker](https://longbridge.com/en/profiles/17077344.md)"
generator: "portal-rs"
---

# I see a buying opportunity in big tech names that …


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**