Markets are juggling mixed Big Tech earnings, a Federal Reserve that is keeping rates higher for longer, and renewed geopolitical risk that is pushing oil prices up. Volatility has picked up after the largest single day drop in the Dow Jones Industrial Average since April 2025. Yet large-cap growth tech stocks with solid balance sheets and disciplined valuations can still offer interesting setups. This article looks at three stocks exposed to these news catalysts from our Large-Cap Growth Tech Stocks screener and explains how recent developments could help you decide whether they deserve a closer look or a place on your watchlist.

Astera Labs (ALAB)

Overview: Astera Labs is a semiconductor company that builds high speed connectivity chips and software that help cloud and AI data centers move data efficiently between GPUs, CPUs and memory. Its platform combines hardware like PCIe and CXL retimers, Ethernet modules and smart fabric switches with the COSMOS software suite for large scale monitoring and optimization.

Operations: Astera Labs currently generates about US$1.0b in revenue entirely from semiconductors, with the largest contributions from Singapore at US$336.7m and China at US$301.2m, followed by Taiwan, other regions and the United States.

Market Cap: US$44.6b

Astera Labs sits in the middle of the AI infrastructure buildout that has supported recent Big Tech cloud spending, with its connectivity chips and COSMOS software embedded in hyperscaler data centers and newer AI racks. Analysts expect strong earnings and revenue growth. The stock already trades on a very rich P/S multiple and relies heavily on a concentrated hyperscaler customer base. This leaves investors sensitive to any slowdown in AI capex or shifts to integrated solutions from larger chipmakers. If you are weighing whether the premium valuation and recent insider selling are justified by Astera Labs’ product breadth, open standards focus and potential to increase silicon content per XPU, you will want to see how the full thesis stacks these drivers against the key risks.

Astera Labs sits at the crossroads of premium AI infrastructure pricing and a tightly held hyperscaler customer base. The real question is whether that mix still lines up with the 3 key rewards and 2 important warning signs

Broadcom (AVGO)

Overview: Broadcom is a global digital infrastructure company that designs semiconductors and enterprise software used to connect, store, secure and manage data across AI data centers, telecom networks, cloud platforms and large corporate IT systems.

Operations: Broadcom generates around US$47.8b from Semiconductor Solutions and intellectual property licensing and about US$27.7b from Infrastructure Software.

Market Cap: US$1.8t

Broadcom supplies custom chips and networking for customers such as Apple, Samsung and large AI platforms, while its VMware software is used by enterprises to run private cloud and AI workloads. Earnings and revenue forecasts in the market currently indicate positive momentum, supported by long multi year supply agreements and high profit margins. At the same time, the stock trades on a high P/E, has sizeable debt and faces ongoing regulatory scrutiny around VMware. For investors tracking large cap growth tech, a key consideration is how Broadcom’s cash generation, dividends and mix of semiconductor and software exposure compare with those risks, and whether the current price reflects its position in AI infrastructure or treats it more like a general chip stock.

Broadcom’s mix of high margin chips and software has investors asking whether the current P/E fully reflects its AI role or still misprices key risks around debt and VMware. To see how that balance looks when you line up cash flows, balance sheet and AI exposure against the pressure points, go straight to the 4 key rewards and 2 important warning signs

HubSpot (HUBS)

Overview: HubSpot provides a cloud based customer relationship management platform that helps mid sized businesses attract, convert and support customers across marketing, sales, service, content and commerce tools, increasingly supported by embedded AI agents and assistants.

Operations: HubSpot generates about US$3.3b in revenue from Internet Software and Services, with a smaller portion reported from Asia Pacific and segment adjustments.

Market Cap: US$12.2b

HubSpot stands out in Big Tech driven volatility because it is tied to long term trends in CRM, first party data and AI powered automation rather than one off hardware cycles. The company only recently turned profitable, yet analysts expect strong earnings growth as more customers adopt multiple hubs and AI agents like Breeze embed HubSpot deeper into daily workflows. That potential is reflected in a rich P/E and a share price that has lagged the broader US market over the past year. Q1 2026 results and ongoing buybacks underline management confidence. For investors weighing premium growth software against higher rates and choppy sentiment, the real question is whether HubSpot’s AI first, multi hub model can justify the valuation and margin story from here.

HubSpot’s AI first CRM story is gaining traction, yet the real hinge is how growth, profitability and valuation could evolve over the next few years. Get the full picture in the analyst forecasts for HubSpot

The three large cap growth tech stocks in this article are only a starting point, with the full screener uncovering 26 more companies that pair strong fundamentals with equally compelling narratives across cloud, AI infrastructure and digital services. Unlock a wider opportunity set by using Simply Wall St to identify and analyze the specific catalysts, financial health and valuation stories that matter most to you through the Large-Cap Growth Tech Stocks screener

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.