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#AVGODipsSNOWPops Broadcom reported third-quarter revenue of $29.6 billion, rising 86% year over year, with adjusted earnings of $3.32 per share. It also guided fourth-quarter revenue to approximately $34.8 billion. Despite the strong numbers, Broadcom shares declined as exceptionally high AI expectations made investors sensitive to guidance and future margins. Snowflake moved in the opposite direction after reporting $1.55 billion of revenue, including $1.49 billion of product revenue, up 37%. Remaining performance obligations grew 30% to $9 billion, and the company raised its full-year product-revenue forecast to $6.07 billion. My view is that the contrasting reactions show how market expectations matter more than growth alone. Broadcom delivered larger absolute growth, but much of that optimism was already reflected in its valuation. Snowflake benefited from accelerating product growth and an upward guidance revision. Investors should compare results with expectations, not merely with last year.