{
  "report_rows": [
    {
      "kpi": "Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.97B vs. cons ~$1.93B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Pro forma EPS (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$2.38 vs. cons ~$2.27",
      "confidence": "HIGH"
    },
    {
      "kpi": "Gross margin (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~59.3% vs. cons ~58.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 revenue guide",
      "prediction": "BETTER",
      "answer": "guide ~$8.0B vs. cons ~$7.95B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 pro forma EPS guide",
      "prediction": "BETTER",
      "answer": "guide ~$9.60 vs. cons ~$9.45 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 gross margin guide",
      "prediction": "BETTER",
      "answer": "guide ~58.8% vs. cons ~58.5% (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Memory-cost / tariff-refund margin commentary",
      "prediction": "UNKNOWN",
      "answer": "'controlled in 2026, 2027 risk' framing ~unchanged vs. cons expecting no 2026 hit (FY2026-27)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 2.0,
  "day5_path": "STABILIZE",
  "day5_rationale": "Base case is a solid double beat plus the customary mid-year FY guide raise, which drives positive day-1 revisions. But the stock ran ~+4.6% on 7/28 into the print and sits near April highs (~$254, ~27x), so much of a beat+raise is already discounted. Out-period math is a governor: hitting the raised FY still requires heavy H2-weighted Outdoor/fitness launches against the toughest comps of the year, and management's conservative 'memory costs bite in 2027' framing caps how far estimates get pushed up. Net: initial pop holds but does not compound \u2014 stabilize near the day-1 residual rather than follow through, with fade risk if the guide raise is only token.",
  "day5_confidence": "LOW"
}