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Sentiment · FY2026 Q2
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Rob Mason | Robert W. Baird | 14 | 0% |
| Aaron Rakers | Wells Fargo | 12 | 0% |
| Meta Marshall | Morgan Stanley | 12 | 0% |
| Mehdi Hosseini | Susquehanna | 12 | 0% |
| Mark Delaney | Goldman Sachs | 11 | 9% |
| Rob Jamieson | Vertical Research Partners | 10 | 0% |
| Tim Long | Barclays | 10 | 0% |
| Matt Niknam | Deutsche Bank | 8 | 0% |
| Adam Thalhimer | Thompson Davis | 8 | 0% |
| Samik Chatterjee | JPMorgan | 8 | 25% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Goldman Sachs | 2 | 15 | 7% |
| Robert W. Baird | 1 | 14 | 0% |
| Morgan Stanley | 2 | 14 | 0% |
| Wells Fargo | 1 |
| 12 |
| 0% |
| JPMorgan | 2 | 12 | 17% |
| Susquehanna | 1 | 12 | 0% |
| Vertical Research Partners | 1 | 10 | 0% |
| Barclays | 1 | 10 | 0% |
Keysight posted its best quarter in company history with revenue of $1.72B (up 31% reported, 24% core) and record orders of $2.05B (up 56%), driven by broad strength across AI data center infrastructure, defense modernization, and semiconductor capacity investment. The AI-related business reached $500-$600M in the first half alone, matching all of FY2025, as concurrent demand vectors in infrastructure scaling, speed transitions, optical technologies, and system-level emulation accelerated. Operating leverage was strong at nearly 50% incrementals on a core basis, with ex-tariff operating margins expanding to 30.4%. Management raised FY2026 revenue growth expectations from just above 20% to the high-20s percent range, reflecting confidence in the second-half pipeline from defense systems orders, semiconductor programs, and continued AI infrastructure build-out.
Demand | Revenue Growth | Cloud & AI | Innovation & R&D | Margin | Trade Tariffs | M&A | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 8 | 6 | 2 | 2 | 4 | 1 | 2 | |
| 2025Q1 | 9 | 8 | 3 | 5 | 3 | 1 | 2 | |
| 2025Q2 | 7 | 3 | 4 | 4 | 6 | 6 | 2 | |
| 2025Q3 | 10 | 4 | 6 | 3 | 2 | 5 | 2 | 1 |
| 2025Q4 | 5 | 4 | 5 | 5 | 5 | 2 | 4 | 2 |
| 2026Q1 | 9 | 6 | 7 | 4 | 1 | 2 | 2 | |
| 2026Q2 | 5 | 5 | 5 | 2 | 3 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 8 | 9 | 7 | 10 | 5 | 9 | 5 |
| Revenue Growth | 6 | 8 | 3 | 4 | 4 | 6 | 5 |
| Cloud & AI | 2 | 3 | 4 | 6 | 5 | 7 | 5 |
| Innovation & R&D | 2 | 5 | 4 | 3 | 5 | 4 | 2 |
| Margin | 4 | 3 | 6 | 2 | 5 | 1 | 3 |
| Trade Tariffs | 1 | 1 | 6 | 5 | 2 | ||
| M&A | 2 | 2 | 2 | 4 | 2 | 2 | |
| Guidance Reliability | 2 | 1 | 2 | 2 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
KEYS Keysight Technologies | 10 | +31.7% | |
| APH Amphenol | 9 | +58.4% | |
| COHR Coherent, Inc. | 9 | +20.6% | |
| FTV Fortive | 5 | -27.5% | |
| GLW Corning Inc. | 9 | +20.1% | |
| GRMN Garmin | 8 | +14.2% | |
| JBL Jabil | 9 | +23.1% | |
| SNDK Sandisk Corporation | 9 | +251.0% | |
| TDY Teledyne Technologies | 8 | +7.6% | |
| TEL TE Connectivity | 8 | +14.5% | |
| TRMB Trimble Inc. | 9 | +11.8% |