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given the product mix within Services, where it is increasingly more challenging to scale profitability
Can you walk through how you are thinking about your ability to secure not just SoC, but also memory?
can you help us understand how you're thinking about the overall kind of smartphone market demand, particularly given where memory prices are headed
kind of like LTAs in the marketplace? I mean, is that an option as we move through the year? Or is it more spot-based
Can you help us understand sort of the tariff impact sequentially from the September quarter to the December quarter
is there an opportunity to see some maybe upside from an attach rate perspective given the strength in the iPhone portfolio
Kevan, I'm just trying to understand a little bit more about the demand drivers of iPhone in the quarter because obviously, the 16 has been in the market for some time
would love to kind of get your thoughts on how you're thinking about China versus the rest of Southeast Asia and India going forward
can you maybe update us on your thoughts on how you're thinking about your resiliency and redundancy, following the change that you guys talked about earlier on the call
But no quantifiable impact on demand to date, at least from where we are over the last month? Is there a way to kind of think about that from early April to early May
Where do you think we sit in terms of, on the services side at least, where margins could go? It looks like the 75% margin has been incredibly successful quarter
how do we square kind of the momentum versus kind of the iPhone business effectively really kind of unchanged over the last couple of years
can you help quantify sort of both the revenue impact and potential kind of gross margin impact embedded in your guide from the memory dynamics and the constraints
It doesn't leave a lot of room for growth in the core business outside of AI and campus
can we talk about the competitive or maybe the technical opportunities with scale-out with Jericho 4
how you're thinking about the impact of tariffs. Obviously, product deferred revenue is up sequentially
How are you thinking about how that plays out in '25 and beyond? There's some wins out there
any color or commentary you can help us understand like the composition of the backlog
Can you kind of help us square why you're thinking -- why you're confident enough to take the guide up for gross profit growth
How do we think about what that means for the balance of the year? I know the guidance talks about it even split from gross profit
SG&A being sort of a baseline in calendar 'twenty-five and working towards you know, operating leverage in '26
Should we think about that margin sort of accretion going forward as we mix to maybe fewer client devices in the overall portfolio
Can you help us understand and parse out sort of the impact on health care?
can you maybe just expand upon sort of the strength that you saw in the quarter. Obviously, corporate was incredibly strong
I thought you had relatively easy compares against Netcomm and storage last year
can you Gary, can you help frame or mark the sort of contribution from the new DCOM opportunity maybe in the quarter and kind of how we should think about that in terms of scale
it seems like it's pretty materially lower. You know, in the, you know, the low double-digit range
should we expect something similar to what we saw maybe in fiscal 18, 19, and 20 from a systems and transponder capacity perspective
Can you kind of help us better understand sort of the timing and the magnitude of this? I would assume some of that revenue opportunity is embedded in the rolling three-year guide
How much of that margin dynamic is largely driven by the mix to hardware?
can you speak to kind of how you're thinking about that business as it kind of improves going forward
does that suggest that the timing from a revenue recognition perspective shifts into fiscal '27
it certainly sounds like the over $5 billion of order numbers sounds a bit conservative given the momentum
is that part of the strategy going forward is to upgrade those as soon as the money starts to free up
what's driving that? Is it a competitive is it just better for competitive products
AI could add, you know, about two points of revenue growth to sort of the networking business. In '26. And is that kind of the right way to frame it
can you help us frame from a gross margin impact, is it a 50 basis point headwind in your guide for fiscal '26
it looks like ex Splunk enterprise orders maybe decelerated a little bit sequentially and the strength in, I guess it looks like the Americas was mostly SP and cloud
maybe the risks out there from some of these other alternatives like DeepSeek
Is that sort of what drove the enterprise order growth or is there some campus recovery in that number
we're trying to think through kind of the contribution from Splunk subscription versus term licenses
Can you expand on sort of how you drove profitability both sequentially and year over year?
your ability to dynamically adjust price and steer demand based on your supply chain availability and your relative to maybe some of the smaller competitors
Can we look at your purchase commitments as barometer for how you're thinking about margins going into next year?
should we expect to see the same level of profitability from those products? Or should they expand relative to where you were last year
what is the type of demand that you're seeing in the quarter from an order perspective and what you're shipping?
what are you seeing in the marketplace vis-à-vis your traction versus your competitors? And kind of how do we think about getting to high single-digit growth
Can you guys give us an update on kind of the impact that you're seeing in sort of the federal vertical?
impact more of the server storage side of the business? And not Aruba and Intelligent Edge. Just trying to get a sense for how that layers in over the next couple of years
can you dig in a little bit into the de-platforming of the orders? You mentioned risk, but can you get into specifics in terms of what was the definition of risk
Are you tightening up those sort of windows in terms to better match your underlying commodity prices that you're procuring
can you guys talk to the nature of your long-term agreements? And what I mean by that is obviously, I would assume it covers volume and price
Can you just maybe expand upon what gives you confidence in this guide? And I think you also mentioned strength in, I guess, momentum into next year
what are the longer-term impacts from these changes, particularly to your expense structure and margin, for the new configuration
the yen has been such a headwind for so long. It doesn't sound like you were that concerned or that impacted this quarter
Can you give us a sense for how you're thinking about sort of that, at least it feels like a positive trajectory in that business relative to expectations a couple of months or even a couple of qua...
does that support your kind of confidence and Mike's confidence in '27 margins getting on an upward trajectory towards 6% sort of that mix shift also within CLDC
how do you think about the second half of your fiscal year, particularly given what the growth implies is a fairly meaningful deceleration
Anything else from a working capital perspective or a timing perspective that impacts free cash flow this year versus your original expectations
Can you maybe speak to the trends underneath 5G
Can you help frame sort of the revenue opportunity that underpins that incremental 500,000,000 of investment over the next couple of years
you said 3% but it suggests to me that it should be stronger than that
you have a fairly meaningful deceleration as we move through the summer months into the fall
Can you maybe talk to the sort of the margin delta from that revenue uplift
we didn't hear much in the way of M&A. And I know M&A has been a part of the strategy
can you talk about where you actually stand from an EML wafer fab capacity
How should we think about sort of the arc of the profitability of that particular product offering
Was there anything in the quarter that was similar to last quarter? What I mean by that, there was some channel normalization
Does that mean are you referring that the Transceiver business grew significantly faster than Datacom in the quarter
How was it from a linearity perspective? Did the price changes in the industry have an impact on demand?
it kind of looks like product gross margin could be near a trough in the July quarter
Can you kind of share with us sort of the magnitude of the purchase commitments that you have on balance
Have you seen a recovery in sort of the federal category that's been sort of an albatross in the industry for a while.
How do we marry that sort of outlook and then going into 2027 with kind of how you're thinking about inventory and purchase commitments
Was that in any particular region, vertical? I know EMEA and public sector was a little bit softer.
you're exiting fiscal 2025 with your all-flash ARR growing double digits nicely. North of $4 billion. So can you kind of walk through how you bridge '25 to '26 with that kind of backdrop?
can you help us understand the ramp in the second half of the year on margins to kind of get to that full-year roughly 29% operating margins
can you talk into more specificity in terms of what was sort of the deciding factors that got pushed to the rate
Can you maybe share some color on the success of the block portfolio in the flash numbers
what that would mean for pricing in the market and how that would affect product revenue growth over the longer term