EnterpriseAVGOAUG 31, 2026

AVGO, PANW, DELL, SNOW, HPE report in four days — the guidance small-business buyers should track

Broadcom's expected $15.23B AI semi print, Palo Alto's NGS ARR, and Snowflake's consumption read all land Sept 1–3 and will shape SaaS vendor repricing into 2027.

BY GRETA REINHART · ENTERPRISE SAAS

Five AI-economy bellwethers report between Tuesday and Wednesday, and the guidance language that comes out of those calls will set the pricing floor for the software renewal invoices small businesses receive through 2027. Palo Alto Networks and Dell Technologies print Sept 1 after the close; Broadcom, Hewlett Packard Enterprise, and Snowflake follow Sept 2–3. What matters for downstream buyers isn’t the beat. It’s the forward number.

Start with Broadcom. LSEG consensus sits at $3.24 EPS on $29.24 billion in revenue, with FactSet data cited by CNBC pointing to $15.23 billion of AI semiconductor revenue against $5.2 billion a year earlier. That trajectory is the cost curve underneath every hyperscaler’s inference bill, which is the cost curve underneath every AI feature in the tools small businesses already pay for. RBC Capital Markets expects a moderate raise of the FY27 AI-semi outlook, which management has now carried at “in excess of $100 billion” across two calls, toward roughly $120 billion. UBS is looking further out, telling CNBC readers it expects Hock Tan to steer FY2028 AI revenue into the “~$200B range.” That’s the number SaaS vendors will quote back at procurement teams next spring.

Palo Alto’s read is different but rhymes. Benzinga consensus lands at $3.35 billion in revenue and $0.98 EPS, the eleventh consecutive quarter of expected beats, with 41 upward EPS revisions running into the print. The tell is NGS ARR: platformization pricing power flows straight into what security bundles cost renewing customers.

Dell and HPE frame the server-and-margin side; Snowflake’s consumption prints frame the per-token economics.

Options desks are pricing real dispersion into all five: implied moves of 8.1% on AVGO, 9.3% on PANW, 11.2% on DELL, 11.3% on HPE, and 12.4% on SNOW. For context, Nvidia’s print last week, which told a story of still-booming demand for AI computing, was the appetizer.

Beat-and-raise is table stakes now. What’s being priced this week is whose forward guidance the rest of the stack gets to quote.

Sources

About the author

Greta Reinhart

ENTERPRISE SAAS

Greta Reinhart tracks the enterprise software stack from San Francisco — data platforms, AI bundling, seat pricing, and channel checks across the largest SaaS vendors. She files on go-to-market shifts, packaging changes, and quarterly enterprise reads.