What Billion-Dollar Secret is Apple Hiding?

Is Apple (NASDAQ:AAPL) creating a secret supply chain that fixes manufacturing problems? Is there a new product clandestinely under production that the company wants to spring up on the world unannounced? Is there a manmade colony in space that only Apple knows about?

That last theory is too far-fetched, but considering the excitement Apple usually generates, the possibility of the first two of those being true is almost as exciting.

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Apple has been increasing its capital spending at an incredibly brisk pace, according to a research by Asymco analyst Horace Dediu, and it’s not obvious to anyone what the dollars are getting drowned in.

“My observations for over a year have been that Apple is increasing its capital spending to such a degree that it is neither fish nor fowl,” Dediu wrote in his report. “It operates data centers but presumably does not operate fabrication plants. And yet it spends more than Intel (NASDAQ:INTC) and Google (NASDAQ:GOOG) combined.”