These days, the tech giants have gotten really big. Apple (AAPL) is over $900 billion, by market cap. Microsoft (MSFT) is over $1 trillion. If these were countries, their GDP would be comparable to the Netherlands and Indonesia, respectively.
But even to these companies, $1 billion is a pretty big chunk of change.
So when, for example, Microsoft spends $1 billion on artificial intelligence like it did a few weeks ago -- it's worth paying attention.
Now Apple is spending another $1 billion to acquire a modem division of Intel (INTC).
To understand why, we've got to clear up one thing. When most people think of modems, they think of something like this -- the equipment that gets you online at home or work:
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