Quarterly guidance

Net sales
$19.5 billion to $21.5 billion
Gross margin
12% to 12.5%
GAAP diluted EPS
$1.59 to $1.83
Non-GAAP diluted EPS
$1.66 to $1.90

Annual guidance

Net sales
$72 billion to $82 billion
Gross margin
11.8% to 12.2%

Outlook

Component availability
Key component shortages and volatile pricing continue to impact delivery timelines across the IT industry, including GPUs.
Data center readiness
The primary binding constraints on AI build-outs across the industry are land, power, and data center shells.
AI solutions mix
AI-related solutions are expected to represent approximately 70% to 80% of revenue for fiscal 2027 based on current backlog.
Inventory optimization
The company aims to further streamline inventory and production cycles down to 50 days over coming quarters from 74 days in Q1.