{
  "report_rows": [
    {
      "kpi": "Q4 FY26 Revenue (non-GAAP)",
      "prediction": "BEAT",
      "answer": "pred ~$3.78B vs. cons ~$3.69B",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q4 FY26 Diluted EPS (non-GAAP)",
      "prediction": "BEAT",
      "answer": "pred ~$3.55 vs. cons ~$3.32",
      "confidence": "HIGH"
    },
    {
      "kpi": "Q4 FY26 Gross Margin (non-GAAP, %)",
      "prediction": "BEAT",
      "answer": "pred ~53.0% vs. cons/guide-high ~52.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Q1 FY27 Revenue Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$4.00B vs. cons ~$3.85B (Q1 FY2027, quarter ending ~Sept 2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q1 FY27 EPS Guidance",
      "prediction": "BETTER",
      "answer": "guide ~$3.70 vs. cons ~$3.55 (Q1 FY2027)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Nearline Pricing/LTA Trajectory Commentary",
      "prediction": "BETTER",
      "answer": "guide ~9-10% YoY pricing growth vs. cons ~6-7% embedded (2H CY2026 into CY2027 LTAs)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "LOW",
  "day5_residual_pct": -6.0,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "Q4 beat is largely pre-baked given WDC's 4-quarter streak of double-digit beats and a stock that already ran +18% into the print; the real swing factor is the Q1 FY27/out-year guide. Given Seagate's read-through (nearline sold out into 2028, but STX still sold off -3.7% on its own beat-and-raise) and the deceleration math embedded in sequential revenue/EPS growth rates (Q4 guide already implies growth cooling from Q3's 45% to ~40%), any incremental guide that doesn't clear the sky-high whisper bar likely triggers sell-side model updates that trim out-quarter estimates even after a current-quarter beat. Combined with elevated valuation/positioning (5x+ TTM run, wide $500-$1050 PT dispersion) and lingering China/CXMT overhang, this points to continuation of an initial negative-to-mixed reaction over the following days rather than a reversal.",
  "day5_confidence": "MEDIUM"
}