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is there kind of a percentage of mix that we should be thinking about that should be growing significantly faster than the rest of your business?
you talked about a number of company-specific drivers that should allow you to outperform in calendar 2025
how that might be causing order patterns to change, perhaps upfront payments, a change in the pricing environment
How should we think about gross margins beyond the July quarter, particularly, as it appears as silicon will continue to grow
how are you thinking about your gross margins into the up cycle particularly when we consider rising volumes
I know you don't like to guide to WFE, but how does your view stand for 2026 versus these comments?
how your conversations have evolved in the last few months? How has your visibility changed?
why your shipments could be so robust through July, but now in October, licenses are now the challenge
I wanted to focus on gross margins. I think a quarter ago, you talked about 48.2% as kind of floor
I was hoping you could speak a bit to gross margins. You talked about base pricing starting to come in in the January quarter
How are you thinking about 2024, 2025 more importantly, growth?
the 48% now as a floor is fairly pretty good accomplishment. So, would love to hear kind of how you got there
if you could kind of touch on gross margins through the year and as you balance kind of strengthening service CPU with, you know, perhaps greater you know, GPU accelerating in the second half.
given the dramatic tightness, curious your ability to source incremental capacity from TSMC and elsewhere.
is there a framework that we should be thinking about for gross margins throughout calendar '26?
how you're thinking about OpenAI and other large customers and how we should be thinking about the breadth of your customer kind of penetration
how are you thinking about the use of proceeds? Is there saving for a rainy day or bolt-on acquisitions, perhaps more aggressive share buyback?
How are you thinking about the timing of the handoff, 350 to 400? How are you thinking about Helios' contributions?
can you talk about 400 series and rack level solution, go-to-market strategy?
how should we think about traditional seasonality into the second half particularly with the potential of some pulling here
where 90 days ago, you talked about growth and now greater uncertainty. I would think on the tariff front, there would be more certainty. And so curious why that has gotten worse
I wanted to revisit the first question, Roger, where you guys have kind of reduced your outlook for EUV revenues from 50% to 30%
would love to hear the visibility you have today, the conversations you're having with your customers today as it pertains to 2026, 2027?
how we should be thinking about the overall implications to litho intensity
I would have thought you would have completely derisked other markets. So can you touch on the level of derisking embedded in your assumptions for those customers where you've seen pushouts to 2026?
can you comment on kind of what you're seeing in terms of EUV layer counts, whether it's A16 or whether it's going HBM3, HBM4, etcetera?
how are you thinking about the move to disaggregate prefill and decode from the GPU ecosystem and the impact to custom silicon demand?
I wanted to talk about custom silicon and maybe speak to how you expect content to grow for broad generation to generation
I understand that the guide down 70 bps, particularly with software lower sequentially. And greater contributions from wireless and XPU. But to to hit that 77 spot seven
Can you discuss workloads that are optimal that you're seeing for custom silicon? And that over time, what percentage of your XPU business could be inference versus training?
how you're expanding your portfolio now to six mega scale kind of frontier models. Will enable you to, you know, a more plush, you know, share tremendous information, but at the same time, a world ...
I was hoping you could speak to the mix you see there between XPU and networking
I would love to kind of level set where we are on the advanced packaging front. You talked about rising backlog
I was hoping you could walk through how you're planning to drive increased output through the second half of the year
is that something you're still contemplating for 14A? Or is that more of a 10A adoption?
Do you worry that if you wait for late 2026 to place orders that the lead times then might be longer than you thought? And as part of that, why wouldn't you look to be more aggressive today?
with that improved cash position and liquidity, how has your thinking evolved in terms of investments in either CapEx or other investments in your product businesses
Curious if that's a comment largely focused on server or also including clients and I guess depending on your thoughts there. How should we be thinking about Q1 trends versus normal seasonality
do those numbers fully contemplate the headcount reductions that you are planning? Or, you know, over time, could we see additional savings?
Is the plan here to reinvent x86 to succeed in the AI world or perhaps a broader portfolio, including ARM?
can you kind of walk through how you are thinking about the path to turning free cash flow positive?
I would be curious to hear how your strategy has potentially evolved specifically for IFS
I would love to dig a little bit deeper in terms of your extended lead times and visibility into '27
as you think about the sequential going to the high teens in the second half
are your thoughts around 2027 and the ability to kind of pass along the higher DRAM cost
how do you see that share kind of progressing in 2026 and 2027?
should we be thinking that you're at the higher end of that range given kind of greater contribution from the higher-margin silicon?
as three regions, Wuhan, Shanghai, Beijing are competing for supremacy, and we've now gone from four to six large kind of players
how those conversations are going, and what needs to happen to have firm conviction on growth in '26?
is that a function of perhaps less memory exposure, sustainable foundry or greater seasonality from PCB in the second half
Can you speak to kind of the work you're doing on HBM, how you're thinking about insertions?
beyond the rising process control intensity at 2 nanometer and HBM, are there other drivers? Are those the two principal ones we should be thinking about?
Rick, you talked about share gain. Can you elaborate on that? And then my second question would be on service
if kind of the upgrade business that you're seeing is sustainable
whether you're starting to see real slotting and desire to lock in time frames for delivery
could you speak a bit about the work you're doing with the supply chain, bringing on ramping Malaysia, and how we should think about that in the context of gross margins as revenues ramp in the '26...
over the last six, eight weeks, would love to hear how your conversations with customers have progressed. Are you seeing expedited meetings?
your tool business is likely growing 3x the growth rate of WFE here in calendar '25, and you indicated expectations for relative outperformance to continue
I was hoping to hit on the NAND upgrade. So the biggest growth driver into the June quarter. We'd love to hear your thoughts around the sustainability
Could you speak to if you had to rank order by product or upgrade or whatnot, how we should be thinking
Where are we in terms of the total business versus just AI custom silicon?
I am curious if you could discuss the breadth of the different customers that you are speaking with
Has that number changed
how should we think about cost down across both DRAM and NAND
the relative growth seems very conservative in the backdrop that we are in
it appears net CapEx implied $18 billion versus $13.8 billion last year
it certainly feels like in the last month or two, there's been an inflection in DRAM demand led by inference hyperscalers
I was hoping to revisit your comments on HBM. So you're talking 23%, 24% market share
is there a point where we're thinking about the underutilization charges and the period cost
how do you see Vera Rubin in your extreme co engineering impacting your share of the inference market
Curious how we should think about your future road map
do you see a realistic path for supply to catch up with demand over the next twelve to eighteen months
speak to, you know, your vision for growth into 2026
Saudi Arabia, the UAE
as test time compute and reinforcement learning shows such promise
just a question for you on the debate around whether scaling for large language models have stalled
I was hoping perhaps you could be a little more specific within your key growth drivers and the trends you're seeing there, both from a China and kind of non- China perspective
speak to maybe the near term, the next 6 to 9 months within the kind of structure of 57% to 63% target model
how much of these acquisitions are defensive in terms of a world where MCU discrete purchases probably decrease and focus on software is more important
when you now expect excess inventory to be digested and how are you thinking from a geographic perspective
Our gross margins, given where we are in the cycle, 56.3% is spectacular. Would love to hear kind of how you see a recovery playing out
would be curious if you think we're set up for normal seasonal trends into Q2 and beyond
if we do see a mix shift higher Snapdragon but, you know, unit volume's lower, how should we think about that impacting your QCT EBT margins?
curious how you're planning for you know, a situation where this could be sustained. Are your Chinese customers looking to design in CXMT?
Is there an update in terms of how we should model that for calendar '26?
revenues grew 5% year-on-year, yet margins were down 100-plus bps. And I'm curious, is that a function of mix?
Curious to get your thoughts around supply-demand going forward for NAND
you are now no debt, $3.7 billion cash. What do you think you need to retain given your view today and the new contracts
is there a way to quantify incremental demand for NAND related to AI infrastructure build-out?
when you're in a completely, you know, cash position. You know, how should we think about, you know, capital return
how are you thinking about your bit shipment growth opportunities here in calendar '25, '26?
are you seeing similar trends emerge here in NAND? How does your visibility extend?
is this changing perhaps your product structure roadmap. I know you announced a partnership with NVIDIA
Do you see a world where pricing could flat or even move positive year-over-year?
your customers are turning to SSDs, given the tremendous tightness on the HDD side. Curious your thoughts around that cannibalization
for the September quarter, you're guiding up 2%. You have an extra week, but you talked about select HAMR bits going to qualification
how is your visibility improved? What kind of sense of urgency are you getting from your customers?
On the $200 million for March, is that completely traded away or are you expecting partial part of that business in the June quarter?
what is precisely driving that downtick in June and how should we be thinking about modeling the second half of the year?
congrats on your first merchant GPU win. Curious how to think about the follow-through there?
implicit in your new target model is a vision for your share of [ AAT ] to grow from about 25% to 46%
curious how to think about perhaps the overall revenue growth rate or thinking about June so we can size it. Will you grow above the high end of kind of the revenue target range of 25%?
How are you thinking about compute intensity? How are you thinking about increased test insertions?
roughly $150 million upside versus consensus for December. And I would be curious if you could kind of share how much of that upside is versus what you thought maybe 3 months ago is driven by HBM, ...
As you look to 2026, is there a framework for thinking about AI contributions to you
is that a reflection of a pickup in business that you're seeing today in the second half?
I was hoping you could speak to the SLT wins that you highlighted in your prepared remarks
how are you thinking about kind of what the new gross margin range would look like for the full calendar year?
On the Robotics side, you're restructuring that business once again. Obviously, I think you had multiple kind of paths
I was hoping you could spend a little bit of time expanding on your outlook for low single-digit share growth in Semi Test
With the ITC going from 25% to 35%, curious if you can comment on your thoughts on impact to your net CapEx into '26, '27
could you speak to your plans for utilization? Are there any sort of changes in mix?
I was hoping you could give us a framework for thinking about gross margins beyond the March quarter. You just gave us the depreciation
if we do assume normal seasonal pattern for your top-line into Q2, Q3, should we assume that loadings would move higher in Q2
Curious on the remaining SanDisk position now that it is beyond 12 months. Is that now taxable
how should we think about pricing and what is embedded inside there? Is there a fixed-versus-variable construct
could you speak to how customer engagement and contracts are evolving in this very tight environment
Can you talk about your plans thereafter? Are you going to focus more so on share repurchase or other
how do you plan to meet rising customer demand while keeping supply/demand in balance
how should we think about incremental gross margins from here? Is there a framework that we should use
is there still kind of a fixed cost benefit that would arise, or is it really all about higher capacity drives delivering higher ASPs
I was hoping you could speak a bit about supply and what kind of exabyte growth you can get just from delivering higher capacity drives
what gives you the confidence that this is just a mid-cycle pause and then within the spin of the NAND asset
you talked about a sequential decline for the March quarter. Curious, is that a function of simply lower client and consumer units