Earnings Preview: The Stocks That Could Move Markets Next Week — August 31–September 4, 2026

Wall Street heads into the first week of September with a powerful combination of AI earnings, semiconductor guidance, cybersecurity demand and the U.S. jobs report. After Nvidia, Salesforce and CrowdStrike delivered strong results last week, investors will now look for evidence that the AI investment cycle is broadening across infrastructure, data centers and enterprise software.

The standout report is Broadcom, but Palo Alto Networks, Dell Technologies, Snowflake, Hewlett Packard Enterprise, Lululemon and DocuSign will also be closely watched.

The timing is particularly important because the S&P 500 ended last week less than 1% from its all-time high, while markets are increasingly focused on whether the Federal Reserve could raise rates at its September meeting. (Reuters)

🔥 The Five Earnings Reports That Matter Most

1. Broadcom (AVGO) — Wednesday, September 2

The week’s biggest earnings event

Broadcom is the clear centerpiece of the earnings calendar. The company has become one of the most important beneficiaries of the AI infrastructure boom through its networking, custom AI accelerators and connectivity businesses.

Broadcom has officially scheduled its fiscal Q3 2026 results for September 2 after the U.S. market close. (Broadcom)

Wall Street focus:

• EPS expectation: roughly $3.2–$3.3
• Revenue expectation: roughly $29.2–$29.4 billion (Econalk)
• AI semiconductor revenue
• Custom accelerator demand
• Google/hyperscaler spending
• Networking revenue
• Q4 guidance
• Gross margins

The most important number may not be quarterly EPS. Investors want to know whether AI infrastructure spending remains strong enough to justify Broadcom’s elevated valuation.

A strong AI revenue outlook could provide another leg higher for the semiconductor sector after Nvidia’s powerful results last week. A cautious outlook, however, could trigger a sharp rotation out of AI infrastructure names.

StockInsight™ view: 🟢 High-impact bullish setup, but expectations are elevated.

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2. Palo Alto Networks (PANW) — Tuesday, September 1

Palo Alto Networks reports after the close on Tuesday, covering fiscal Q4 and full-year FY2026. The company has officially confirmed the September 1 reporting date. (Palo Alto Networks)

The report arrives at an interesting moment for cybersecurity stocks. PANW shares have already benefited from accelerating cybersecurity spending and growing concern around AI-generated cyber threats.

Analysts are looking for approximately $3.35 billion in revenue, representing roughly 30% year-over-year growth, with adjusted EPS around $0.98. (Investopedia)

Watch for:

• Remaining performance obligations
• Next-generation security platform adoption
• AI security demand
• Cloud security growth
• Impact from the CyberArk acquisition
• FY2027 guidance
• Operating margins

The options market is pricing a potentially large move, with estimates around 8.5% in either direction around the report. (Investopedia)

StockInsight™ view: 🟢 One of the week’s strongest growth stories, but expectations leave little room for disappointment.

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3. Dell Technologies (DELL) — Tuesday, September 1

Dell reports fiscal Q2 2027 results after the market close on Tuesday. Dell’s investor relations calendar confirms the September 1 earnings event. (Dell Technologies)

This is increasingly becoming an AI infrastructure earnings report rather than a traditional PC earnings report.

Dell’s most recent quarter was extraordinary: revenue reached a record $43.8 billion, up 88% year over year, while AI server revenue reached $16.1 billion. Dell also said it had booked $24.4 billion in AI orders and raised its FY27 AI-server revenue expectation to $60 billion. (Dell Technologies)

That makes the next report particularly important.

Investors will focus on:

• AI server revenue
• AI order backlog
• Data-center demand
• Gross margins
• Enterprise IT spending
• FY27 AI-server guidance
• Free cash flow

The big question is whether Dell can continue converting its huge AI order pipeline into revenue without sacrificing margins.

StockInsight™ view: 🟢 Excellent AI infrastructure read-through; guidance is more important than the headline EPS number.

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4. Snowflake (SNOW) — Wednesday, September 2

Snowflake reports after the close on Wednesday.

The enterprise data-cloud company is becoming an increasingly interesting AI infrastructure/software hybrid. Its first-quarter results were strong, with revenue rising 33% to $1.39 billion and adjusted EPS reaching $0.39. The company subsequently raised its FY2027 product-revenue forecast to $5.84 billion and announced a five-year, $6 billion AWS infrastructure agreement. (Reuters)

For Q2, analysts are looking for approximately:

• EPS: ~$0.45
• Revenue: ~$1.5 billion (Dividends)

Key questions:

• Is consumption growth accelerating?
• How quickly are customers adopting AI products?
• Is Cortex gaining traction?
• Can Snowflake maintain strong product-revenue growth?
• What happens to margins as AI infrastructure costs increase?
• Will management raise FY2027 guidance again?

Snowflake is particularly interesting because it offers a window into whether enterprise AI spending is translating into actual software consumption.

StockInsight™ view: 🟢 High-growth AI/software play with significant upside if guidance moves higher.

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5. Lululemon (LULU) — Thursday, September 3

Lululemon reports Q2 results on September 3. The company has officially listed the Q2 2026 results event for that date. (Lululemon)

Unlike the technology names, Lululemon gives investors a read on the high-end consumer.

The company is facing a more complicated environment, particularly in North America, making the outlook considerably more important than the quarterly headline.

Watch for:

• North American comparable sales
• International growth
• China
• Gross margins
• Inventory
• Consumer spending
• Full-year guidance

The stock is also expected to experience a significant move around earnings, with options pricing suggesting a double-digit potential move. (TIKR.com)

StockInsight™ view: 🟡 Higher-risk consumer earnings play; guidance could dominate the reaction.

📅 Earnings Calendar: August 31–September 4

Monday, August 31

The week starts relatively quietly from a major-cap perspective.

Key report:

• Science Applications International — SAIC

The lack of a major market-moving report means Monday will likely be dominated by macroeconomic developments and positioning ahead of Tuesday’s technology earnings.

Tuesday, September 1

After market close:

• PANW — Palo Alto Networks
• DELL — Dell Technologies
• CRDO — Credo Technology

Palo Alto and Dell are the two reports that deserve the most attention.

Wednesday, September 2

Before market:

• Brown-Forman
• Sprinklr
• G-III Apparel
• Ollie’s Bargain Outlet

After market:

• AVGO — Broadcom
• SNOW — Snowflake
• HPE — Hewlett Packard Enterprise
• NTAP — NetApp
• FIVE — Five Below
• C3.ai
• PVH
• Netskope

Broadcom and Snowflake dominate the session, while HPE and NetApp provide additional insight into enterprise infrastructure spending. (hosting.briefing.com)

Thursday, September 3

Before market:

• Ciena
• Copart
• other smaller releases

After market:

• LULU — Lululemon
• DOCU — DocuSign
• Guidewire
• additional software and consumer names

DocuSign deserves special attention because options markets are pricing a potentially large earnings reaction; Investing.com reports an estimated move of around 11% based on options data. (Investing.com)

Friday, September 4

There are few major earnings releases scheduled.

But Friday could still be the most important market day of the week because of the U.S. employment report.

🧠 Earnings Are Only Half the Story

The earnings calendar is unusually important because it arrives alongside a major macro test.

The August U.S. employment report is due Friday, September 4. Markets are watching the report closely because expectations for a September Fed rate hike have risen sharply following Federal Reserve Chair Kevin Warsh’s recent comments.

Reuters reported that markets were pricing roughly a 57% probability of a September rate increase, while the jobs report is expected to show only modest employment growth. (Reuters)

That creates an interesting setup:

Strong earnings + weak jobs → potentially bullish for stocks

because investors could interpret resilient corporate profits alongside softer employment as supportive of monetary easing.

Strong earnings + strong jobs → potentially mixed

because stronger employment could reinforce expectations for higher rates.

Weak earnings + weak jobs → dangerous

because the market could begin pricing both deteriorating growth and disappointing corporate fundamentals.

Weak earnings + strong jobs → potentially the worst combination

because it would raise the possibility of slowing corporate earnings while the Fed remains constrained from cutting rates.

🤖 The AI Earnings Test

The market has already received a major dose of optimism from Nvidia.

Nvidia delivered a powerful quarter, with revenue up 106% year over year, while management projected another roughly 70% revenue increase. (Investor’s Business Daily)

Now the market wants to see whether that strength is spreading through the broader ecosystem.

The chain investors should watch is:

Nvidia → Broadcom → Dell → HPE → Snowflake → cybersecurity/software

If Broadcom confirms strong AI accelerator and networking demand while Dell reports continued AI server growth, the market could interpret that as evidence that the AI investment cycle remains intact.

Snowflake and Palo Alto then provide a second test: is AI spending translating into enterprise software and security demand?

That’s why this week’s earnings are more interconnected than they initially appear.

📊 What the Earnings Season Is Telling Us

The broader Q2 earnings picture remains remarkably strong.

S&P 500 earnings growth has been running around 34.5% year over year, according to Reuters, with technology and AI-related companies among the strongest contributors. (Reuters)

Last week’s reports from Nvidia, Salesforce and CrowdStrike reinforced the bullish narrative.

Salesforce, for example, reported $11.35 billion in revenue, up 11% year over year, while its Agentforce and Data 360 businesses continued to grow rapidly. (MarketWatch)

That gives this week’s software reports an important benchmark.

Investors will increasingly ask:

Is AI creating incremental revenue, or simply shifting spending from existing software products?

The answer could determine whether the current technology rally continues into September.

🔎 Stocks to Watch

🟢 Bullish Watchlist

AVGO — AI networking and custom accelerators
DELL — AI servers and data-center infrastructure
PANW — cybersecurity and AI security
SNOW — enterprise AI/data infrastructure

🟡 Higher-Risk Watchlist

LULU — consumer spending and North America
DOCU — software valuation and AI disruption
HPE — enterprise infrastructure margins
NTAP — storage demand and AI infrastructure

⚠️ The Biggest Earnings Risks

1. Expectations are already high

Many AI-related stocks have rallied substantially ahead of earnings. That means beating estimates may not be enough.

The market increasingly demands:

Beat + raise + strong commentary.

2. Guidance matters more than EPS

A company can beat quarterly EPS and still sell off if management lowers future expectations.

For Broadcom, Dell, Palo Alto and Snowflake, forward guidance will likely determine the real market reaction.

3. Rates could overwhelm earnings

Even excellent corporate results could struggle if Friday’s jobs report causes Treasury yields to jump.

The market is entering September with unusually strong earnings momentum but also increasing monetary-policy uncertainty. (Reuters)

🎯 StockInsight™ Earnings Radar

Rank	Stock	Date	Main Theme	Expected Volatility
🥇	AVGO	Sep. 2	AI infrastructure	🔥🔥🔥
🥈	PANW	Sep. 1	Cybersecurity / AI	🔥🔥🔥
🥉	DELL	Sep. 1	AI servers	🔥🔥🔥
4	SNOW	Sep. 2	Enterprise AI	🔥🔥
5	LULU	Sep. 3	Consumer	🔥🔥
6	DOCU	Sep. 3	Software / AI	🔥🔥

🔮 StockInsight™ Outlook for the Week

Overall earnings bias: 🟢 Bullish

The fundamental backdrop remains supportive. Nvidia’s enormous AI growth, strong Salesforce and CrowdStrike results, and continued corporate investment in AI infrastructure suggest that the earnings cycle still has considerable momentum.

But September begins with a much tougher test.

Broadcom is the key earnings report. The U.S. jobs report is the key macro event.

If Broadcom confirms accelerating AI demand, Dell maintains its AI-server momentum, and Palo Alto delivers strong cybersecurity guidance, technology leadership could remain intact.

The biggest danger is that excellent earnings collide with rising bond yields and a hawkish Federal Reserve.

That leaves us with a simple market equation for the coming week:

AI earnings ↑ + guidance ↑ + jobs cooling = 🚀 bullish

AI earnings ↑ + yields ↑ sharply = ⚠️ more complicated

For investors, the best approach may be to focus less on headline EPS beats and more on guidance, margins, AI demand, order backlogs and management commentary.

September is starting with a bang. 📈

(Reuters)