CNBC's Deirdre Bosa Warns Oracle Investors: A $523 Billion Backlog May Not Be What It Seems

massive cash generation can treat a delayed or renegotiated contract as a rounding error. Companies whose growth thesis depends on a small number of anchor customers absorbing massive new capacity are in a different position entirely.An investor who bought Oracle at the start of 2026 is sitting on a year-to-date decline of 23.25%, with shares trading around $149.77. That drop reflects the market repricing exactly the risk Bosa described: if anchor tenants redirect capacity to newer sites with newer chips, t ...