CALX -32% YTD despite Strong Buy

Q2 2026: EPS beat ($0.47 vs $0.41 est), revenue roughly in-line (~$293M, +21% YoY), but shares still fell 7-12% on gross margin compression (54.8%) from rising memory component costs. Bull case: record software revenue on the Calix One platform, $431M buyback completed, guidance still at high end of 15-20% rev growth for 2026. Analyst targets range low $50s to mid-$80s. Margin pressure looks like the real overhang heading into Q3….. anyone else holding through this? submitted by /u/Best_Cartogra