{
  "report_rows": [
    {
      "kpi": "Net sales / revenue",
      "prediction": "BEAT",
      "answer": "pred ~$6.35B vs. cons ~$6.27B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Non-GAAP EPS",
      "prediction": "BEAT",
      "answer": "pred ~$2.87 vs. cons ~$2.82",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Gross margin %",
      "prediction": "MISS",
      "answer": "pred ~20.7% vs. cons ~21.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 non-GAAP EPS growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~7% vs. cons ~7% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "H2 2026 revenue growth / demand normalization commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~mid-single-digit vs. cons ~mid-single-digit (H2 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "FY2026 gross margin (mix normalization)",
      "prediction": "UNCHANGED",
      "answer": "guide ~21.0% (in-line w/ 2025) vs. cons ~21.0% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "'Geared for Growth' SG&A savings run-rate ($100-200M by 2027-28)",
      "prediction": "UNKNOWN",
      "answer": "guide ~$100-200M vs. cons ~no explicit Street figure, ~$150M implied midpoint (2027-2028)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.3,
  "day5_path": "FADE",
  "day5_rationale": "Q2 likely beats on hardware/backlog conversion (corroborated by TD Synnex/Connection prints), but management is expected to reiterate H2 caution rather than raise back-half estimates \u2014 meaning the 'improved outlook' stays 'steeped in Q2.' With the stock already up ~50% off May lows and ~10% in the past month pricing in a clean beat, any explicit or implicit signal that Q2 strength is pull-forward (tougher H2 comps, margin mix still hardware-heavy, netted-down recovery pushed later) triggers sell-the-news de-rating and modest downward revisions to H2/FY26 EPS as analysts true-up for magnitude of pull-forward, fading the initial pop over the week.",
  "day5_confidence": "MEDIUM"
}