Speaker · Updated
Guy Adami: latest market views
CNBC
Summary
Guy Adami is a former Wall Street trader and long-time 'Fast Money' panelist and CNBC contributor.
Chorus has 32 views from Guy Adami across 7 episodes on CNBC Fast Money since October 19, 2026. Their latest calls: bullish on Chipotle Mexican Grill, iShares 20+ Year Treasury Bond ETF, Microsoft and CoreWeave; bearish on Alphabet, ServiceNow, Meta Platforms and Bank of America.
Where they stand
Their latest bullish or bearish call on each company.
- AlphabetBearish ·
- Chipotle Mexican GrillBullish ·
- iShares 20+ Year Treasury Bond ETFBullish ·
- MicrosoftBullish ·
- ServiceNowBearish ·
- CoreWeaveBullish ·
- Robinhood MarketsBullish ·
- JetBlue AirwaysBullish ·
- Lockheed MartinBullish ·
- Northrop GrummanBullish ·
- International Business MachinesBullish ·
- Meta PlatformsBearish ·
- TeslaBullish ·
- Amazon.comBullish ·
- Bank of AmericaBearish ·
What they talk about most
The latest views
Newest first. Every quote is checked against the episode's transcript.
AlphabetBearish
Alphabet's clean search miss and weak free cash flow are a problem; the core business is decelerating.
Search had been beating Street estimates since about March of last year, so this quarter is a clean miss. The free cash flow shortfall is a problem. Google Cloud beating expectations is a positive. The Street will focus most on whether the core business is decelerating, and Alphabet will now have to answer questions about how it will combat AI. He had expected the stock to trade well above where it did after the report. Later he said some of the concerns about Google's business being threatened by AI (he compared it to the Kodak example) are showing up in these results.
“Search had been beating Street estimates since I think March of last year. So this is obviously a miss. Tim mentioned free cash flow, not good.”at 6:08
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
MicrosoftBullish
Microsoft's 22 times multiple is not a problem, though expectations are now high.
Investors were very pessimistic about the stock in April, when it traded around $375 and few were calling its potential. That pessimism has now been worked through. At 22 times earnings, the multiple is not a problem given what management is saying. Expectations for the stock were as bad six months ago as they are now great. He is not sure investors can get their arms around the stock at current levels.
“multiple is not a problem 22 times given what we're hearing. I just think now as bad as expectations were six months ago, that's how great expectations are now.”at 14:26
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
ServiceNowBearish
ServiceNow's growth does not support its valuation, and it has no real valuation moat.
The growth does not support ServiceNow's valuation, and the services side is weak. The stock has rallied about 55% off its lows and is now approaching levels seen earlier this year. There is no real valuation moat, especially given investors' concerns about the software trade.
“and I just don't think that growth supports it... Rallied 55% off the lows. And now we're going to start to approach levels that we saw earlier this year. And there's no real valuation moat either.”at 30:43
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
FedExNeutral
FedEx's quarter was fine but not extraordinary; the stock is good enough to hold at this level.
The stock has rallied into a valuation that he thinks it probably deserved a couple of years ago. Given the run and the after-hours move, investors may consider trimming. He sees nothing not to like in the quarter, though it was not extraordinary. He thinks the stock is good enough to hang around at this price level. He also questions whether FedEx can pass along its higher diesel costs.
“I don't think there's anything not to like here. Thought it was fine. I don't think it was extraordinary. But I think it's good enough to hang around this price level we're seeing right now.”at 32:24
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
iShares 20+ Year Treasury Bond ETFBullish
TLT could rise toward 84.5 near term, though a renewed rise in rates would hurt.
Adami sees the most interesting element of the Fed meeting as the implication that rate hikes may be over. He says the 10-year yield, around 4.80%, could then stop and perhaps reverse higher. He thinks TLT could climb a little toward 84.5 over the next week or so, but warns that if rates start to reaccelerate higher it could be problematic.
“I thought the TLT could get a little higher, 84.5, which sort of coincided to four eighty ish in the '10. But now let's see what happens over the next week or so. Because if rates start to reaccelerate higher, that could be problematic.”at 40:06
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
Strong GDP depends on AI spending, a risk to growth that matters more for 2027.
Adami argues that a strong GDP number is predicated on AI spending, and that the market is now questioning exactly that spending. Because the GDP outlook depends on the things the market is worried about, he sees this as a greater concern probably for 2027, and possibly 2028. He cites Alphabet, Meta and Oracle signaling significant spending increases into 2027.
“Strong GDP number though is predicated on the AI spend, right?... we've to be concerned that GDP is all sort of predicated on exactly the things that are seemingly concerning the market right now. And I think that's a greater concern probably for 2027”at 41:52
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
Chipotle Mexican GrillBullish
Chipotle's comps beat expectations and the stock may rally further, though it is not out of the woods.
Adami attributes the share gain to a relief rally on same-store sales of 2.1%, which beat expectations. The stock traded down to its June low and seemed to hold there. He says the company is not out of the woods on macro pressures, but the comp beat and reaffirmed guidance may be enough to produce more upside in the stock.
“It's a relief rally off the comps, which at 2.1% were better than expected. We traded down to the June low, seemingly held. They're not out of the woods, but it might be enough to get a little more of a rally in CMG.”at 45:12
CNBC Fast Money: Alphabet Search Miss, Microsoft Azure Beat and Fed’s Hawkish Pause 10/28/26 ·
CoreWeaveBullish
CoreWeave is setting up for a tradable bottom into month end after bond yields fell.
Adami says CoreWeave traded through support levels he expected it to hold, but it is now back at levels that should have been support, on decent volume. He points to relief in the bond market, with 10-year yields down from 5.30%, as a welcome respite. He thinks the stock is setting up for a tradable bottom into month end.
“Will tell you, you know, core, we've traded through levels that I thought it would find support at, but now it's right back to levels that should have been support... I think you're setting up for a bit of a tradable bottom into month end.”at 3:00
CNBC Fast Money: All Clear For Markets?... And What To Expect Out Of Fed Rate Decision Tomorrow 10/27/26 ·
Earnings are robust, but investors won't pay up for them; Seagate's post-earnings drop shows it.
Adami says the market is forward-looking and understands that earnings are robust, but it is asking how sustainable those earnings are and what multiple they deserve. He thinks people are not willing to pay up right now. Seagate is a good example: there is a compelling valuation case, but the stock is trading poorly after earnings, which he says tells you a lot.
“I think what the market is saying is, yeah, we understand that earnings are robust. How sustainable is this and what type of multiple we're put on the back of it? I don't think people are willing to pay up right now.”at 8:02
CNBC Fast Money: All Clear For Markets?... And What To Expect Out Of Fed Rate Decision Tomorrow 10/27/26 ·
AlphabetBullish
Alphabet's setup going into earnings is probably as good as it has been in a while; the stock is cheap.
Adami says Alphabet has not traded well for a long time and is at July lows. Mike Santoli adds that the stock has become cheaper, and Adami says the setup into earnings is probably as good as it has been in a while. He sees Alphabet as the most interesting of the big names reporting.
“I mean, the setup's probably as good as it's been in a while for Google.”at 18:28
CNBC Fast Money: All Clear For Markets?... And What To Expect Out Of Fed Rate Decision Tomorrow 10/27/26 ·
Robinhood MarketsBullish
Robinhood is cheaper than it looks; earnings growth and the post-selloff level support the stock.
Prediction markets are growing fast while crypto declines, and the key question is whether Robinhood can monetize that activity without cannibalizing other business. Adami thinks the stock is cheaper than its headline multiple because earnings growth supports it. He also notes the stock has fallen for about two months, and its current level looks attractive, with the July low nearby.
“If they can really monetize a lot of the activity without cannibalizing something else, their prediction markets business growing fast, crypto declining... you have the earnings growth to back it up and the levels we're trading down to now.”at 38:49
CNBC Fast Money: All Clear For Markets?... And What To Expect Out Of Fed Rate Decision Tomorrow 10/27/26 ·
AI infrastructure & data centers
Market now penalizes hyperscalers raising debt for AI spending, making this week's hyperscaler earnings treacherous.
Meta's announced $95B stock sale to fund its AI build-out followed the debt-raise pattern. Adami says the market has shifted from rewarding companies that tap debt markets to penalizing them, so investors are scrutinizing hyperscalers more critically. He concludes the setup for hyperscaler earnings this week is extremely tricky, while noting a Meta gap fill near $630 suggests support.
“I think the market is now penalizing companies that are sort of tapping into the debt markets, and there was a period of time where that was viewed as favorably. We're not in that period of time now.”at 2:23
CNBC Fast Money: Anthropic’s long-awaited IPO filing... And next Fed decision on deck 10/26/26 ·
iShares 20+ Year Treasury Bond ETFBearish
Bond rally is a countertrend bounce; TLT may reach 84.5 as yields rise again later this year.
The recent drop in yields is a countertrend bounce in the bond market, and bond prices are expected to keep deteriorating. TLT may fall toward 84.5, which is about 4.85% on the 10-year yield. The trajectory of yields is expected to keep moving higher at some point later this year.
“this is a countertrend bounce in the bond market, lowering yields against the market that I think is going to continue to deteriorate.”at 38:04
CNBC Fast Money: Anthropic’s long-awaited IPO filing... And next Fed decision on deck 10/26/26 ·
JetBlue AirwaysBullish
Short squeeze likely despite awful fundamentals; shares could trade in the high $3s to low $4s.
Short interest is about 30% of the float, roughly three days of trading volume by his estimate. The earnings reaction is a classic sell-the-news move, and shorts are likely to cover on the back of it. The fundamentals are awful, but the trade should work for a while, and the stock can trade in the high threes to low fours at some point. The stock is at an all-time low.
“which means this is a classic sell the news, and then shorts are going to cover on the back of this. The fundamentals are awful, but the trade is going to work here for a while.”at 41:55
CNBC Fast Money: Anthropic’s long-awaited IPO filing... And next Fed decision on deck 10/26/26 ·
Costco WholesaleUncertain
Costco's valuation at 43 times earnings is expensive and fundamentals are difficult, despite the technicals.
He agrees with Katie on the technicals. But Costco trades at 43 times earnings, which he considers expensive. The average analyst price target is about $10.75, which was a prior all-time high, so the stock is deep into the pool of prior highs. The fundamentals are a little difficult.
“43 times is expensive, number one. The average price target amongst analysts is Katie's level, $10.75, which was a prior all time high. So deep into the pool stuff here.”at 45:24
CNBC Fast Money: Anthropic’s long-awaited IPO filing... And next Fed decision on deck 10/26/26 ·
AI infrastructure & data centers
Market questions whether AI spending can be monetized and paid for, not whether demand exists.
Adami says the market is not struggling with demand for AI compute, which Jensen Huang keeps talking up. The doubt is about the ability to pay for the build-out and, more importantly, to monetize it. Cash flow turning negative after a long run, plus the market realizing monetization must come, drove the pullback.
“I think what we're seeing here is the market's not struggling with demand... We've never questioned it. What we question is the ability to pay for it, maybe more importantly...”at 2:52
CNBC Fast Money: Tech Tumbles In Market Sell-Off… And Moderna’s Meltdown After Data Leak 10/22/26 ·
Oil spikes from supply disruptions usually are not sustainable, and energy stocks usually lag them.
Adami says oil spikes caused by supply disruptions usually do not last, so energy companies do not usually trade well on them. Energy was off 1% despite renewed unrest, though energy had been breaking out the prior week as expected. He is wary of the energy move.
“oil prices that are a a spike based upon a supply disruption usually aren't sustainable, so energy companies don't usually trade that well.”at 11:21
CNBC Fast Money: Tech Tumbles In Market Sell-Off… And Moderna’s Meltdown After Data Leak 10/22/26 ·
Ten-year yield could back up to around 4.85%; rates are falling for the wrong reasons.
Adami still thinks rates are heading higher, and the ten-year could have a back-and-fill to 4.85%, which he will stand by as where it probably goes. Rates are falling now for the wrong reasons, because government debt issuance and AI debt issuance compete for the same investor appetite. Less appetite for that debt should bring rates down.
“I still think are going higher... You could have a back and fill to $4.85. We'll stand by that because I think that's where it probably goes.”at 11:21
CNBC Fast Money: Tech Tumbles In Market Sell-Off… And Moderna’s Meltdown After Data Leak 10/22/26 ·
Lockheed MartinBullish
Lockheed is breaking out of a three-to-four-year downtrend and is a stock to own.
Adami says defense stocks have been hammered but are about to break out of a three-to-four-year downtrend, and Lockheed is one of them. The company beat third-quarter sales and profit expectations, raised full-year guidance, and signed a Pentagon agreement to produce 850 F-35 jets. Adami says investors should own it.
“These stocks have been hammered. If you look, they're about to break out of about a three or four year downtrend. Lockheed's one of them.”at 39:03
CNBC Fast Money: Tech Tumbles In Market Sell-Off… And Moderna’s Meltdown After Data Leak 10/22/26 ·
Northrop GrummanBullish
Northrop and Lockheed are beaten-down defense names to own as they break out of downtrends.
Adami argues defense stocks have been beaten down and are breaking out of a multi-year downtrend. He had discussed Northrop earlier and now says investors should own both Northrop and Lockheed.
“Northrop, Lockheed, I think you got to own both of those names.”at 39:15
CNBC Fast Money: Tech Tumbles In Market Sell-Off… And Moderna’s Meltdown After Data Leak 10/22/26 ·
Meta PlatformsBearish
Meta turning free-cash-flow negative from AI spending could scare investors going forward.
Adami notes that Meta's free cash flow is negative for the first time in about ten years. He acknowledges the cause is the AI spending, and that other companies have also gone through this period. He says the guidance and capex did not scare people this quarter, but this FCF swing could scare investors going forward. Valuation is fine, however.
“This is what might scare people going forward though. For the first time now, I think in ten years, free cash flow negative for Facebook.”at 7:29
CNBC Fast Money: Big Tech Earnings Filter In… And Coreweave’s Tangled Web 10/21/26 ·
TeslaBullish
Tesla's auto margins are its best in years, but the stock is held back by the SpaceX merger math.
Adami says Tesla's margins excluding regulatory credits are almost 19%, the best seen in a long time, and the business appears to be accelerating the right way. He thinks the stock is not trading in line with this because the market is working out how many SpaceX shares Tesla holders would receive in a potential merger. Since that outcome depends on Musk's decision, the stock is hard to value.
“If you look at margins ex regulatory credits, almost 19 [%]. That's the best we've seen in a long time. So good for them.”at 13:52
CNBC Fast Money: Big Tech Earnings Filter In… And Coreweave’s Tangled Web 10/21/26 ·
International Business MachinesBullish
IBM can keep rallying from here given positive free cash flow and okay margins.
Adami says IBM is still generating positive free cash flow and its margins are okay. He notes that the stock has rallied a lot off recent lows and that he sees more room to run. He cites the earlier penalty after last quarter's miss and deal delays. The deals came back this quarter, with software and infrastructure revenue beating expectations, so he sees the stock's upside from here.
“Free cash flow is still positive, so they're doing something like clearly... and margins are okay... I still think this stock sort of can rally from here for sure.”at 25:32
CNBC Fast Money: Big Tech Earnings Filter In… And Coreweave’s Tangled Web 10/21/26 ·
Chipotle Mexican GrillBearish
Chipotle has shown eight or nine quarters of slowing growth, which is a problem.
Adami says Chipotle has been slowing for the last eight or nine quarters, which is a problem. He thinks the quarter is setting up for another disappointment, and the analyst downgrades a week ahead of earnings suggest a defensive move. Chipotle is raising prices in about 8% to 9% of its stores every month, which may not be accepted by a consumer facing rising costs. Adami sees some valuation support near June 2022 levels.
“We're on the other side of growth. We've seen it now for the last eight or nine quarters. That's a problem.”at 30:41
CNBC Fast Money: Big Tech Earnings Filter In… And Coreweave’s Tangled Web 10/21/26 ·
CoreWeaveBullish
Expects a tradable CoreWeave bounce, though the stock has stalled at mid-July levels.
Volume suggests a bounce should happen, and Guy still expects one. He argues it should already have happened after the Goldman upgrade. The stock has instead fallen back to levels seen in mid-July and at other points this year, which he calls disappointing. He describes the shares as basically frozen for now.
“I still think there's a tradable bounce coming, but it should have happened on the back of the Goldman upgrade.”at 35:53
CNBC Fast Money: Big Tech Earnings Filter In… And Coreweave’s Tangled Web 10/21/26 ·
TeslaBullish
Tesla's just-reported quarter is its best in a couple of years on the metrics.
Guy says that, given all the metrics, this is the best quarter Tesla has put up in the last couple of years. He notes the stock was already up 8 to 10% before the SpaceX news, which he says was not the market valuing Tesla against SpaceX. The strength of the report is his basis for a positive view.
“This is the best quarter they put up, I think, in the last couple years, in my opinion, given all the metrics.”at 41:02
CNBC Fast Money: Big Tech Earnings Filter In… And Coreweave’s Tangled Web 10/21/26 ·
Meta PlatformsBearish
Meta has run too far too fast and has more downside, with a buy level near $650.
Meta fell from about $780 to below $700 and then rose almost in a straight line, flirting with its prior all-time highs from last year. Adami sees more room to the downside than upside. He says the setup is not favorable into earnings. He names a buy level closer to $650 than $700, which implies much of the rally is at risk.
“I think there's a little more room to the downside in this one. There's a level to buy Meta Facebook. I think it's closer to $6.50 than to $700.”at 44:35
CNBC Fast Money: Netflix & SpaceX Report Results… And Next Move For Neoclouds 10/20/26 ·
CoreWeaveBearish
CoreWeave's roughly $60 support has held before, but the flat, heavy-volume close suggests more pain ahead.
Guy notes the stock has repeatedly bounced off the roughly $60 level that has acted as support since December. Yet it traded about 100 million shares and closed essentially unchanged, which he calls poor price action rather than a sign of strength. He says the stock thinks it is out of the woods, but there may be more pain to come, using the Wizard of Oz analogy.
“They think they're out of the woods, but you know what? There might be more pain to come, I think, Melissa.”at 5:33
CNBC Fast Money: Buying Opportunity In AI Pullback?... And Oil’s Next Move 10/19/26 ·
Housing will unlock only after an economic downturn; unemployment could surprise to the upside.
Guy argues the housing market will unlock only when a downturn forces people to make moves they would otherwise avoid. He ties that to the unemployment rate, which he thinks could rise more than people expect. He also says rates are probably headed higher over the longer term, though he gives no detail on that.
“What's gonna unlock the housing market, unfortunately, is a downturn in the economy... predicated on an unemployment rate, which I think could surprise people to the upside.”at 20:29
CNBC Fast Money: Buying Opportunity In AI Pullback?... And Oil’s Next Move 10/19/26 ·
Bank of AmericaBearish
Bank of America's stall since August suggests the banking cycle is later than the market realizes.
Guy notes Bank of America hit an all-time high around $65 in August. Since then, after Brian Moynihan's unusual comments, the stock has not seen an uptick. Banks are cyclical, and the way the group has traded since mid to late August suggests the cycle may be further along than the market thinks. He still likes Citi and banks in general, provided there is no massive credit cycle.
“Bank of America made its all time high in August... if you look at the way they've traded since, you know, mid to late August, it's suggesting that maybe we're a lot later cycle than the market realizes.”at 23:50
CNBC Fast Money: Buying Opportunity In AI Pullback?... And Oil’s Next Move 10/19/26 ·
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