| ANET |
Report |
Revenue (Q2 2026) |
BEAT |
pred ~$2.94B vs. cons $2.828B |
HIGH |
| ANET |
Report |
Non-GAAP EPS (Q2 2026) |
BEAT |
pred ~$0.94 vs. cons $0.89 |
HIGH |
| ANET |
Report |
Non-GAAP Gross Margin (Q2 2026) |
MISS |
pred ~62.5% vs. cons ~63.8% |
MEDIUM |
| ANET |
Guide |
FY2026 Revenue Guidance |
UNCHANGED |
guide ~$11.5B vs. cons $11.55B (FY2026) |
MEDIUM |
| ANET |
Guide |
FY2026 AI Fabric Revenue Target |
UNCHANGED |
guide ~$3.5B vs. cons $3.5B (FY2026) |
MEDIUM |
| ANET |
Guide |
Q3 2026 Revenue Guidance |
BETTER |
guide ~$2.95B vs. cons $2.90B (Q3 2026) |
MEDIUM |
| ANET |
Guide |
FY2026 Non-GAAP Gross Margin Range |
LOWER |
guide ~61-63% vs. cons 62-64% (FY2026) |
MEDIUM |
| ANET |
Return |
Day-1 residual (stock − beta × S&P 500) |
-4.5% |
— |
MEDIUM |
| ANET |
Return |
5-day cumulative residual |
-7.5% (FOLLOW-THROUGH) |
Setup mirrors Q1: stock rallied ~40% into the print on AI-capex euphoria, pricing in a beat, while memory/silicon cost inflation (DRAM spikes flagged by Micron/Amazon capex commentary) makes a gross-margin guide-down for FY26 (62-64% range narrowing toward the low end) likely even amid a top-line/EPS beat. Last quarter's near-identical dynamic (beat + margin concern) drove a -14% two-day drop that continued rather than reversed within the week as analysts cut FY26 EPS/margin estimates on the implicit cost read-through; expect a similar initial negative reaction to extend over 5 days as sell-side trims margin assumptions, even if revenue/AI-fabric targets are reaffirmed. |
MEDIUM |