Interactive Media & ServicesConcentrated
$624.0bn · 15 matched · 100.0% coverage · top 3 95.5%
Industry CapEx Cycle Drill-down
MSCI ACWI · consensus CapEx forward growth · 24M ÷ 12M − 1 · composition-controlled same-company base · latest 14 Jul 2026
Included Industries
60
Excluded Industries
13
Thin baskets
4
Concentration warnings
9
Choose a Sector
Largest consensus CapEx forward-growth signals
| Industry | Sector | Forward growth | 5Y signal | Next-12M CapEx | Status |
|---|---|---|---|---|---|
| Technology Hardware, Storage & Peripherals | Information Technology | +14.7% | +4.92 | $148.9bn | Concentrated |
| Semiconductors & Semiconductor Equipment | Information Technology | +13.7% | +3.27 | $226.0bn | Core |
| Interactive Media & Services | Communication Services | +15.6% | +3.03 | $624.0bn | Concentrated |
| Gas Utilities | Utilities | +2.8% | +2.71 | $23.1bn | Core |
| Industrial Conglomerates | Industrials | +15.0% | +2.50 | $29.5bn | Core |
| Biotechnology | Health Care | +5.2% | +2.20 | $8.8bn | Core |
| Pharmaceuticals | Health Care | -2.4% | -2.03 | $65.5bn | Core |
| Transportation Infrastructure | Industrials | +12.5% | +2.00 | $11.3bn | Core |
| Communications Equipment | Information Technology | +7.8% | +1.97 | $7.5bn | Core |
| Health Care Equipment & Supplies | Health Care | +6.1% | +1.93 | $19.1bn | Core |
| Automobiles | Consumer Discretionary | -2.0% | -1.73 | $207.5bn | Core |
| Hotels, Restaurants & Leisure | Consumer Discretionary | +3.7% | +1.66 | $33.9bn | Core |
| Paper & Forest Products | Materials | -6.6% | +1.60 | $4.3bn | Thin basketConcentrated |
| IT Services | Information Technology | -0.4% | -1.54 | $48.3bn | Concentrated |
| Media | Communication Services | -11.6% | -1.49 | $13.0bn | Concentrated |
Communication Services5 included · 0 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Interactive Media & Services | $624.0bn | +15.6% | +3.03 | 15 | 100.0% | 35.6% | 95.5% | Concentrated |
| Diversified Telecommunication Services | $220.8bn | -0.8% | +0.47 | 32 | 97.1% | 32.3% | 52.1% | Core |
| Wireless Telecommunication Services | $75.2bn | +1.8% | +0.83 | 24 | 100.0% | 13.1% | 33.8% | Core |
| Entertainment | $15.2bn | +2.4% | -0.18 | 25 | 100.0% | 57.8% | 72.9% | Concentrated |
| Media | $13.0bn | -11.6% | -1.49 | 8 | 90.9% | 80.8% | 87.5% | Concentrated |
Consumer Discretionary7 included · 3 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Broadline Retail | $247.5bn | +8.1% | +1.24 | 19 | 91.3% | 87.5% | 96.5% | Concentrated |
| Automobiles | $207.5bn | -2.0% | -1.73 | 40 | 89.1% | 12.8% | 30.8% | Core |
| Hotels, Restaurants & Leisure | $33.9bn | +3.7% | +1.66 | 41 | 100.0% | 13.8% | 35.8% | Core |
| Specialty Retail | $29.3bn | -0.6% | -0.26 | 33 | 97.1% | 14.5% | 33.8% | Core |
| Automobile Components | $22.2bn | -0.1% | -0.41 | 21 | 92.3% | 11.8% | 33.4% | Core |
| Household Durables | $17.1bn | +0.5% | +0.04 | 16 | 94.4% | 22.9% | 52.0% | Core |
| Textiles, Apparel & Luxury Goods | $14.9bn | +4.0% | -0.72 | 20 | 100.0% | 37.5% | 54.8% | Core |
Excluded Industries (3)
| Industry | Same-base companies | Forward-growth months | Coverage | Reason |
|---|---|---|---|---|
| Distributors | 3 | 169 | 100.0% | matched securities < 5 |
| Diversified Consumer Services | 3 | 169 | 100.0% | matched securities < 5 |
| Leisure Products | 2 | 169 | 100.0% | matched securities < 5 |
Consumer Staples6 included · 0 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Consumer Staples Distribution & Retail | $79.1bn | +2.0% | +1.00 | 37 | 97.4% | 33.1% | 47.6% | Core |
| Food Products | $36.6bn | +0.2% | +0.75 | 50 | 98.1% | 14.4% | 24.9% | Core |
| Beverages | $32.6bn | +1.2% | -0.11 | 33 | 97.1% | 13.8% | 34.7% | Core |
| Household Products | $9.9bn | +3.2% | +1.06 | 11 | 100.0% | 41.3% | 62.8% | Core |
| Personal Care Products | $6.9bn | +3.2% | +0.65 | 14 | 100.0% | 28.4% | 65.6% | Core |
| Tobacco | $5.0bn | +0.6% | -0.82 | 8 | 100.0% | 30.8% | 71.8% | Core |
Energy2 included · 0 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Oil, Gas & Consumable Fuels | $544.2bn | -1.7% | -0.95 | 81 | 96.6% | 9.5% | 23.3% | Core |
| Energy Equipment & Services | $7.4bn | +2.2% | -0.74 | 8 | 100.0% | 26.6% | 59.4% | Core |
Financials0 included · 6 excluded
No Industries pass the current gates.
Excluded Industries (6)
| Industry | Same-base companies | Forward-growth months | Coverage | Reason |
|---|---|---|---|---|
| Banks | 27 | 106 | 14.2% | coverage < 70% |
| Financial Services | 14 | 169 | 43.2% | coverage < 70% |
| Capital Markets | 45 | 169 | 49.5% | coverage < 70% |
| Insurance | 17 | 169 | 21.0% | coverage < 70% |
| Consumer Finance | 0 | 142 | 9.1% | matched securities < 5; coverage < 70% |
| Mortgage Real Estate Investment Trusts (REITs) | 0 | 0 | 0.0% | matched securities < 5; forward-growth observations < 60; coverage < 70% |
Health Care5 included · 1 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Pharmaceuticals | $65.5bn | -2.4% | -2.03 | 56 | 93.5% | 10.9% | 29.0% | Core |
| Health Care Providers & Services | $26.8bn | +4.2% | +0.23 | 27 | 100.0% | 19.7% | 45.8% | Core |
| Health Care Equipment & Supplies | $19.1bn | +6.1% | +1.93 | 34 | 97.2% | 12.5% | 32.2% | Core |
| Life Sciences Tools & Services | $12.8bn | -0.9% | +0.63 | 21 | 100.0% | 15.1% | 37.6% | Core |
| Biotechnology | $8.8bn | +5.2% | +2.20 | 23 | 91.2% | 27.8% | 55.2% | Core |
Excluded Industries (1)
| Industry | Same-base companies | Forward-growth months | Coverage | Reason |
|---|---|---|---|---|
| Health Care Technology | 2 | 169 | 100.0% | matched securities < 5 |
Industrials14 included · 0 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Electrical Equipment | $53.1bn | -5.0% | -1.00 | 51 | 98.5% | 14.1% | 35.9% | Core |
| Passenger Airlines | $47.5bn | +3.9% | +0.45 | 14 | 84.2% | 16.0% | 37.4% | Core |
| Construction & Engineering | $42.6bn | -1.0% | -0.37 | 24 | 100.0% | 18.0% | 46.9% | Core |
| Aerospace & Defense | $41.4bn | +2.8% | -0.53 | 36 | 97.8% | 11.6% | 28.7% | Core |
| Machinery | $41.2bn | +1.1% | +0.74 | 74 | 96.3% | 8.2% | 19.7% | Core |
| Trading Companies & Distributors | $37.2bn | -3.2% | -0.99 | 20 | 100.0% | 13.5% | 39.8% | Core |
| Ground Transportation | $36.0bn | +7.9% | +0.51 | 18 | 100.0% | 13.4% | 35.9% | Core |
| Industrial Conglomerates | $29.5bn | +15.0% | +2.50 | 24 | 92.6% | 21.5% | 44.1% | Core |
| Marine Transportation | $29.0bn | -2.0% | +0.22 | 13 | 86.7% | 19.5% | 50.1% | Core |
| Air Freight & Logistics | $18.3bn | +4.3% | +0.70 | 14 | 100.0% | 21.7% | 59.4% | Core |
| Commercial Services & Supplies | $13.1bn | +1.1% | +1.03 | 14 | 88.9% | 21.4% | 47.3% | Core |
| Transportation Infrastructure | $11.3bn | +12.5% | +2.00 | 18 | 100.0% | 15.7% | 45.0% | Core |
| Building Products | $9.9bn | +1.3% | +0.84 | 18 | 100.0% | 24.4% | 54.0% | Core |
| Professional Services | $5.2bn | +3.8% | +0.26 | 19 | 100.0% | 14.5% | 37.2% | Core |
Information Technology6 included · 0 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Software | $314.8bn | +10.9% | +0.41 | 43 | 91.2% | 57.4% | 94.3% | Concentrated |
| Semiconductors & Semiconductor Equipment | $226.0bn | +13.7% | +3.27 | 79 | 96.3% | 26.9% | 61.0% | Core |
| Technology Hardware, Storage & Peripherals | $148.9bn | +14.7% | +4.92 | 30 | 94.3% | 37.7% | 85.0% | Concentrated |
| Electronic Equipment, Instruments & Components | $59.6bn | +0.6% | +1.10 | 51 | 95.7% | 10.3% | 21.0% | Core |
| IT Services | $48.3bn | -0.4% | -1.54 | 29 | 100.0% | 76.2% | 82.9% | Concentrated |
| Communications Equipment | $7.5bn | +7.8% | +1.97 | 13 | 88.0% | 17.3% | 38.9% | Core |
Materials5 included · 0 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Metals & Mining | $189.1bn | -6.4% | -0.51 | 84 | 95.7% | 5.7% | 17.0% | Core |
| Chemicals | $78.2bn | -1.2% | +0.16 | 73 | 97.5% | 7.0% | 19.6% | Core |
| Construction Materials | $20.9bn | -0.8% | +0.76 | 14 | 94.4% | 14.8% | 36.4% | Core |
| Containers & Packaging | $7.9bn | -0.9% | +1.04 | 8 | 100.0% | 31.7% | 67.1% | Core |
| Paper & Forest Products | $4.3bn | -6.6% | +1.60 | 5 | 100.0% | 55.4% | 86.4% | Thin basketConcentrated |
Real Estate5 included · 3 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Real Estate Management & Development | $28.9bn | +0.2% | -0.39 | 45 | 94.0% | 12.4% | 32.4% | Core |
| Specialized REITs | $13.5bn | -0.8% | +0.39 | 10 | 90.9% | 32.2% | 75.3% | Core |
| Industrial REITs | $3.2bn | +2.2% | -0.37 | 5 | 100.0% | 53.0% | 91.7% | Thin basketConcentrated |
| Retail REITs | $2.8bn | -6.6% | +0.64 | 9 | 100.0% | 37.0% | 59.1% | Core |
| Residential REITs | $0.9bn | +2.0% | -0.92 | 5 | 83.3% | 29.7% | 68.4% | Thin basket |
Excluded Industries (3)
| Industry | Same-base companies | Forward-growth months | Coverage | Reason |
|---|---|---|---|---|
| Health Care REITs | 2 | 119 | 100.0% | matched securities < 5 |
| Diversified REITs | 4 | 169 | 83.3% | matched securities < 5 |
| Office REITs | 2 | 169 | 100.0% | matched securities < 5 |
Utilities5 included · 0 excluded
| Industry | Next-12M CapEx | Forward growth | 5Y signal | Same-base companies | Coverage | Top 1 | Top 3 | Status |
|---|---|---|---|---|---|---|---|---|
| Electric Utilities | $319.5bn | +4.4% | +0.54 | 54 | 98.2% | 9.9% | 21.0% | Core |
| Multi-Utilities | $118.9bn | +5.2% | +0.94 | 20 | 100.0% | 13.9% | 33.8% | Core |
| Independent Power and Renewable Electricity Producers | $105.7bn | -4.6% | -0.65 | 30 | 91.2% | 10.7% | 26.1% | Core |
| Gas Utilities | $23.1bn | +2.8% | +2.71 | 15 | 100.0% | 19.6% | 43.9% | Core |
| Water Utilities | $12.9bn | +4.8% | +0.06 | 5 | 100.0% | 28.0% | 76.2% | Thin basket |
aggregate 24M consensus ÷ aggregate 12M consensus − 1. The same-company requirement controls composition; it does not change the formula.Eligibility. An Industry is charted when the latest same-company basket contains at least 5 security IDs, the forward-growth series has at least 60 valid monthly observations, and latest strict FY1-FY3 calendarization coverage is at least 70%. There is no capex-dollar or parent-sector-share gate. Baskets with fewer than 7 companies are labelled thin. Top-one CapEx share above 50% or top-three share above 80% is labelled concentrated but remains included. Industry and Sector labels use current Bloomberg GICS classifications backcast across point-in-time ACWI membership.