Companies are starting to spend big to fund future growth. Goldman has a way to play it

SourceCNBC
SectorFinancial Markets
CountryMiddle east

Corporate America is starting to ramp up its spending amid a rebounding economy after a big cash crunch last year, according to Goldman Sachs strategists, who believe shares of companies prioritizing growth will lead the next leg higher.

Many major companies are opening up their wallets as much of the pandemic hit is now in the rearview mirror. For example, Apple, Intel and Walmart have all announced substantial new spending plans to facilitate future growth, Goldman noted. The Wall Street firm estimated a 19% rebound in S&P 500 companies’ cash use this year, up from 10% growth previously forecast.

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