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Goldman Sachs spots a troubling big tech trend
Key takeaways
- Profits piled up, balance sheets swelled, and buyback programs grew year after year, quietly supporting stock prices even when markets turned volatile.
- A research note published May 7 by Goldman Sachs lays out exactly what is replacing it, and the implications stretch well beyond any single company or sector.
- Goldman Sachs released a research note on May 7 identifying a major change in how the largest technology companies are allocating their cash.
Goldman Sachs spots a troubling big tech trend Hillary Remy Sun, May 10, 2026 at 2:13 AM GMT+7 5 min read GS WSFX.BO AMZN GOOG META For years, investors in the biggest technology companies could count on one reliable outcome: the cash would come back to them. Profits piled up, balance sheets swelled, and buyback programs grew year after year, quietly supporting stock prices even when markets turned volatile.
That dynamic is changing. A research note published May 7 by Goldman Sachs lays out exactly what is replacing it, and the implications stretch well beyond any single company or sector.
Goldman Sachs released a research note on May 7 identifying a major change in how the largest technology companies are allocating their cash.
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