Squawk on the Street SOTS 2nd Hour: Nvidia Key Takeaways, Cleveland Fed President, & A Rare Sit Down w/Liberty Media's Chairman 11/20/25
6 snips
Nov 20, 2025 
Beth Hammock, President of the Federal Reserve Bank of Cleveland, provides insights on monetary policy, emphasizing the need for restrictive rates to tackle inflation. Dan Niles, an investment expert, discusses Nvidia's impressive earnings and the implications for tech and AI investments, highlighting the importance of stock selection. John Malone, Liberty Media's chairman, shares thoughts on the cable industry's future, his biggest career regrets, and the role of consolidation in driving value. This lively conversation touches on financial stability and the evolving landscape of media and technology.
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Nvidia's Quarter Recalibrates Market Leadership
- Nvidia delivered a Goldilocks quarter with strong revenue growth and a bullish guide that eased AI bubble fears.
- Dan Niles says this momentum raises MAG7 estimates while forcing stock-picking as broader earnings lag.
Prioritize Stock Picking Over Broad Bets
- Focus on stock selection rather than macro bets when earnings diverge across leaders and the broader market.
- Allocate to companies that can fund AI spend through cash flow, not just capital markets.
Chip Utilization Eases Depreciation Fears
- Nvidia's older Ampere chips are reportedly fully utilized, reducing concerns about overstated earnings from extended depreciation.
- Dan Niles warns funding for massive AI CapEx will differentiate winners like Google from smaller players.
