CNBC's "Fast Money" Nvidia Reports Results… And Target Misses The Mark 11/19/25
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Nov 19, 2025 Nvidia's recent earnings report has analysts buzzing, highlighting a surprising $500 billion backlog and impressive gross margins. Meanwhile, Target struggles with disappointing sales, prompting discussions about their need for a grocery focus and a turnaround strategy. The podcast dives into the implications of these retail results as the holiday season approaches. Additionally, insights into the impact of AI on Caterpillar's growth and the volatile crypto market add more layers to the conversation.
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NVIDIA's Beat Validates Strong GPU Demand
- NVIDIA's Q4 revenue guide and mid-70s gross margins justify strong demand for GPUs and sustain a bullish narrative.
- Analysts expect upgrades and follow-through given the $500B backlog commentary and sustained pricing power.
The $500B Backlog Changes Analyst Expectations
- The $500 billion backlog number is unusually forward-looking and likely to prompt analyst upgrades if demand sustains.
- Hyperscaler spending could be constrained by higher financing costs, making NVIDIA's pricing power and order clarity more valuable.
Pricing Power Fuels Margins And A Halo Effect
- NVIDIA shows strong pricing power as average selling prices for next-gen chips rise, supporting margins despite higher input costs.
- The halo effect lifts other semis and suppliers like AMD, Micron and TSMC.