Is the capex spending de · settles Jan 1 · 70 days
Alphabet discloses its higher 2027 budget; a rise in the stock revives the defense case, another fall validates the return test.
How it settlesRead the 2027 capital-expenditure figure or range Alphabet gives in the release or on the call, and the Nasdaq close of GOOGL on the first full trading day after it against the close before. Source: Alphabet investor relations, quarterly earnings release and call
The exact question
Did Alphabet shares close higher on the first full trading day after Alphabet disclosed a 2027 capital-spending budget above its 2026 budget than at the close before the disclosure?
The return is not there
read as destruction
The spending is defense
read as defense
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