{
  "report_rows": [
    {
      "kpi": "Q2'26 Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$15.0B vs. cons ~$14.6B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2'26 Non-GAAP EPS",
      "prediction": "BEAT",
      "answer": "pred ~$0.31 vs. cons ~$0.25",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2'26 Non-GAAP Gross Margin",
      "prediction": "IN-LINE",
      "answer": "pred ~39.5% vs. cons ~39.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q3'26 Revenue guide",
      "prediction": "BETTER",
      "answer": "guide ~$15.5B vs. cons ~$15.0B (Q3'26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3'26 Non-GAAP Gross Margin guide (18A dilution + memory/substrate cost inflation)",
      "prediction": "LOWER",
      "answer": "guide ~38% vs. cons ~40.5% (Q3'26)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "DCAI (Data Center) revenue outlook",
      "prediction": "BETTER",
      "answer": "guide ~$6.0B (up dbl-digit QoQ) vs. cons ~$5.7B (Q3'26)",
      "confidence": "LOW"
    },
    {
      "kpi": "Intel Foundry external traction / 14A + Apple/Fortinet",
      "prediction": "UNKNOWN",
      "answer": "ext. foundry rev ~$0.2B vs. cons ~$0.3B; op loss ~-$2.3B vs. cons ~-$2.1B (Q2'26)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -6.0,
  "day1_confidence": "LOW",
  "day5_residual_pct": -9.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Stock has ~4x'd since March on the govt-stake/foundry-story re-rating and sits at a stretched ~$450B cap (beta ~3.7, 5.8% daily vol), so a routine 7th-straight beat is fully priced. The swing factor is the 2H margin path: a Q3 non-GAAP GM guide cut on 18A mix dilution and memory/substrate cost inflation forces analysts to trim out-period EPS even after a top-line beat. That negative revision math, layered on a 'buy-the-rumor (Apple/Fortinet foundry), sell-the-news' setup 27% off the June peak, drives a negative day-1 residual that follows through over the week as estimates reset lower; only a concrete large 14A/Apple design-win commitment would flip it to stabilize.",
  "day5_confidence": "LOW"
}