{
  "report_rows": [
    {
      "kpi": "Q2 Revenue",
      "prediction": "BEAT",
      "answer": "pred ~$1.25B vs. cons $1.21B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 Non-GAAP EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.15 vs. cons $2.05",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 Gross Margin",
      "prediction": "IN-LINE",
      "answer": "pred ~59.0% vs. cons 58.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q3 Revenue guide",
      "prediction": "LOWER",
      "answer": "guide ~$1.05B vs. cons ~$1.12B (2026Q3)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 Non-GAAP EPS guide",
      "prediction": "LOWER",
      "answer": "guide ~$1.78 vs. cons ~$1.88 (2026Q3)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 revenue framing / H2 weighting",
      "prediction": "UNCHANGED",
      "answer": "reaffirm ~$4.4B, H1-weighted 55-60% vs. implied cons ~$4.4B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "H2 memory/HBM + Q4 visibility color",
      "prediction": "UNKNOWN",
      "answer": "guide ~$50M merchant GPU / limited Q4 visibility vs. cons priced for firmer H2 (2026H2)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 3.0,
  "day1_confidence": "LOW",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "Q2 likely beats and positioning is heavily de-risked (stock -31% from the June 30 peak, -7% into the print), setting up a relief pop on the headline. But the out-period math works against follow-through: the H1-weighted 55-60% framing plus a still-opaque Q4 implies soft sequential Q3/Q4 guides, so sell-side trims out-quarter estimates even after the beat. The initial bounce fades as the 'strong but lumpy, can't see Q4' message reasserts on a high-multiple name.",
  "day5_confidence": "LOW"
}