Hyperscaler Revenue UncertaintyThe scaling of hyperscaler revenues is expected to take longer than initially anticipated, creating uncertainty.
Market Dynamics And Margin RiskProduct growth has yet to re-accelerate, and hyperscaler deals have yet to catalyze estimates, while investments and competitive dynamics create margin risk.
Operating Margin ExpansionThe combination of slight moderation in gross margins and robust increase in operating expense to support growth will limit the magnitude of operating margin expansion.