Apple isn't playing the same AI capex game as the rest of the megacaps
1. Apple's capital expenditure rose 35% to $12.72 billion last year. 2. Company's new iPhone 17 has received a highly positive consumer response. 3. Apple Intelligence's AI features are becoming significant for smartphone purchases. 4. Apple's hybrid approach blends first-party and third-party computing resources. 5. Operating expenses increased 11% to $15.91 billion, driven by R&D.