Broadcom and CrowdStrike Earnings Preview: AI Chip and Cybersecurity Results in Focus

The Quick Take

• Broadcom and CrowdStrike quarterly earnings are next after major rallies in Dell and Snowflake results this reporting season.
• Markets have pre-priced significant upside moves for both companies, reflecting high investor expectations for AI-related revenues.
• Analysts are watching whether Broadcom's AI chip ASIC revenue and CrowdStrike's annual recurring revenue growth can beat elevated expectations.

Broadcom and CrowdStrike headline the next wave of major technology earnings after Dell and Snowflake delivered strong results that drove significant rallies. Broadcom occupies a unique position in the AI hardware ecosystem: its custom ASIC business designs AI training chips for hyperscalers including Google and Meta, creating a revenue stream directly tied to the most capital-intensive part of the AI infrastructure cycle. CrowdStrike, meanwhile, has emerged as the enterprise cybersecurity benchmark — its annual recurring revenue and net revenue retention metrics are the sector's most-watched indicators of security spending durability in a macro-uncertain environment.

German and European investors have significant exposure to both companies via technology-focused ETFs and direct holdings in US technology names that dominate DAX-listed wealth management portfolios. The market has priced in strong beats for both names based on options market implied moves. A miss on Broadcom's ASIC revenue guidance or a CrowdStrike customer retention deceleration would cause outsized negative reactions given current elevated multiples. Peer networking and security companies — Arista Networks, Palo Alto Networks, Zscaler — would face sympathy selling if CrowdStrike disappoints.

The critical forward variable for Broadcom is its update on custom AI ASIC design wins and the revenue ramp timeline from its three known hyperscaler ASIC customers. For CrowdStrike, the net new annual recurring revenue figure and commentary on competitive dynamics post-2024 incident recovery are the primary metrics. The macro variable for both is enterprise IT budget visibility — if companies signal spending caution in H2 2026, growth-at-premium-multiple tech names face multiple compression regardless of current quarter beats.

Synthesized from 2 sources.