Running your own data centers is a form of vertical consolidation, which is a strategy. Specialization is the opposite strategy. A single company may strategically decide to specialize some things and vertically consolidate others.
The dollars-and-cents are details. Those matter, of course, but don't base your entire analysis there. Staying vertically integrated may help fedex be 4.713% more profitable today, but might miss out on important growth areas and become a dinosaur. Or maybe the important growth areas involve data center innovations, and staying vertically integrated allows them to exploit those opportunities. So it's not always an easy decision, but it involves more than the present-day costs.
The dollars-and-cents are details. Those matter, of course, but don't base your entire analysis there. Staying vertically integrated may help fedex be 4.713% more profitable today, but might miss out on important growth areas and become a dinosaur. Or maybe the important growth areas involve data center innovations, and staying vertically integrated allows them to exploit those opportunities. So it's not always an easy decision, but it involves more than the present-day costs.