Margins Temper Enthusiasm

25%its chance, of the story’s futures

−0.1%on the S&P 500, if it happens

The revenue guide is strong, but investors focus on whether AI accelerator growth is coming with lower-than-expected gross margins. High memory costs, packaging constraints, and customer concentration keep the rally contained.

What it moves

Technology−0.3%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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