Both Nvidia and Marvell just showed the same pattern, revenue and EPS ahead of consensus, then a margin guidance line that spooked the stock anyway. Broadcom's setup is different in one way, its AI revenue guide of 16 billion this quarter is not a new number, it was already flagged last quarter, so the real test is whether they reaffirm it cleanly or hedge it the way Marvell hedged its FY28 outlook. Custom ASIC margins have structurally been thinner than the merchant silicon business for years, that part should not surprise anyone who has followed the stock through the VMware integration.