Joshua Buchalter

The 74% gross margin outlook is pretty staggering and we're back to those 2022 peak levels.

Could you walk through what's implied for gross margins in the fiscal third quarter? Maybe like help us understand the levers across pricing, mix

Any help you can give us on where you're seeing the biggest signs of demand recovery because the outlook does seem well better than most of your peers

Could you maybe speak to what's driving the confidence in the visibility there? Any metrics you're able to give on lead times?

do you get the sense that there's any element of your end customer restocking that's going on? Or do you think this is really just an industrial recovery?

Does either the April quarter guidance or the fiscal 2025 initial outlook of being in your target range include any sort of channel refill

I think you might be the only company in broad-based semis that called out higher utilization rates this quarter

how should we think about, I guess, core count growth or whatever is the right proxy

Was this comment referring to those engagements upsizing versus the announced initial deployments?

how this TAM is inflecting and changing so meaningfully in such a short amount of time

You've done well in inferencing, I think, partly because of your leadership in HBM content. So I was wondering if you could maybe address the poll seemingly motivated by, you know, lower latency in...

Were there any changes in your order patterns during the quarter? And maybe bigger picture, how are you thinking about client growth and the health of that market into 2026?

should we expect normal seasonality in the first half of next year?

can you maybe spend a minute or 2 talking about where you feel you're at competitively with ROCm?

how much visibility and lead time do you need from your customers?

can you maybe talk to the underlying drivers of how you're able to keep the flat gross margins despite what sounds like still margin dilutive data center GPUs up significantly

I was hoping you may expand on the drivers of upside in both the print and in particular the guide.

I wanted to ask about how the ex-China, ex-308 Instinct family performed in the quarter

Could you clarify the drivers of the strength across desktop, notebook and enterprise?

was wondering if you could speak to whether or not the shape of the first half changed over the last few months

how should we think about the evolution of your revenue per gigawatt over time?

I was hoping you could just maybe reflect on how visibility has changed over the last 1 to 2 quarters that gave you the confidence to give us more details

I was hoping you could provide some comments on momentum for your first scale up Ethernet and how it compares with, you know, UA link and PCIe solutions out there

how important is your captive capacity to winning business with customers on a multiyear basis?

investors are directionally really struggling with how to model the CPU demand for agentic workloads

Was this -- maybe could you provide more context on the scope of this? Is this for potential foundry customers? Or are these products?

given your balance sheet is in a lot different spot than it was 3 months ago, has anything changed from that regard?

Was it mainly with channel partners, but was it channel plus direct customers, more across different end markets

How aggressive are you observing your competitors on pricing right now?

I was hoping you can maybe reflect on your confidence that there is enough foundry capacity and investment going on right now

should we expect meaningful revenue contribution in 2027 with the part coming out at the end of 2026

what you're looking for that's going to give you the signal that it's all clear to raise utilization rates

any rules of thumb that we should think about as to how those charges should unwind

what's improved from a visibility standpoint that's allowing you to conclusively say we've hit the bottom here

Should we think about sort of the sustained lower production levels until you hit, I think it's 130 to 150 day on books

coming out of this cycle, are you thinking about your relationship and the importance of the channel

how you would expect underutilization charges to trend in the quarter

you gained nearly $120 million in the data segment in 1 quarter, which is pretty astounding

it is great to see the initial orders for the DDR5, high speed interface controller.

if we think about the incremental upside since last quarter, any help you can give us on how much of that's coming from CPUs

Any help you can give us on the guidance by segment as we think about sort of a 12% sequential growth for the June quarter, which segments should be above and below

Is that still the right way we should be thinking about, you know, the non-compute exposed verticals into 2026

you guys are suggesting you feel better about visibility there than you have in the past. Is that a fair read?

Can you give us the puts and takes of which end markets you expect to grow more or less?

how you're approaching these huge forecasts. And I'm sure competitive sockets with massive scale

Is that sort of an inventory dynamic? And you had gained a bunch of share, I believe, on DDR5 to start the year

is this opportunity comparable in size to what you've been able to generate on the GPU side?

Is that coming from your biggest customer in that segment? Or is that more confidence in some of the newer platform wins

Any more clues you can give us on how you're expecting, either at the company level 2025 growth to shake out

Would you expect the majority of these merchant ASIC programs to be dual-sourced

Can you maybe elaborate on what you would expect to see from a potential customer who's exploring multiple tracks

How should we think about Vera Rubin against this benchmark? it is obviously a new architecture.

I was hoping to ask about gross margins in the second half. I think on the previous call you talked about

Are you guys suggesting like this year is within the 6% to 10%? Or are you saying that you should track towards the 6% to 10% over a 3-year period

how are you thinking about utilization rates as we sort of enter a better cyclical period

I was maybe also hoping that you could provide some color on the China auto market, what you saw there intra-quarter

would you say the difference in what you're seeing versus peers is because of inventory management or more product cycle driven

Can you maybe elaborate on what signals you're looking for and what makes you so sure that there's not really a meaningful impact yet

are you seeing them sustain, accelerate, pull back on their investment in newer technologies and features like SDV

do you expect to still be under-shipping in that second quarter? Is there any way to quantify that amount

how that changes your conversations with your OEM customers and the potential pull for your broader set of hardware solutions

Is that still the right way to think about it?

can you help us understand how much of that is from GaN, how much from silicon carbide

can you quickly walk through the puts and takes on gross margins in Q1?

I was hoping you could comment on the auto market. It sounds like the inventory restock is so sorry. The inventory correction is complete.

It seemed like there was a lot of volatility this quarter with Americas up so strongly and in particular, China down.

you mentioned that you were expecting them to peak in 2Q and then decline through the rest of the year. Is that still the right way to think about

How did that develop in the quarter? And any changes in the pricing environment that you've seen over the last 90 days?

could you maybe explain a bit of what's in the $283 million restructuring charge that was in gross margin

provide more details on the remaining part of the sequential decline? And also, any more details you can give on what's specifically driving the unfavorable mix

how much inventory you expect to strip out downstream at your tier ones and where levels, I guess, are now

Any help you can give us on the sort of the shape of that contribution through fiscal 2027 as it's obviously quite a material step up in revenue growth there?

Can you walk us through how we should think about QCT gross margins returning to their prior levels, how long between the ASP increases kind of match the input costs rising?

any details you're able to share or context on what the custom silicon engagement, what the scope is, what the magnitude is

Any other factors that are driving the weakness beyond the memory pricing? It was good to hear the reiterated Samsung share

that auto number is implying a pretty sharp acceleration sequentially. Is this some of the ADAS wins that you've talked about previously layering in?

maybe you could spend a few minutes talking about what you see as Qualcomm's right to win in the data center space?

Any details you can give us on the scope of that engagement? Is that for an ARM-based CPU? Is it an accelerator?

I think investors are worried about some level of pull-ins. Are you seeing any evidence of that specifically related to China?

Any updates to share on those negotiations, obviously, given the difficult backdrop to be signing deals right now

could you maybe spend a couple minutes talking through what kind of assumptions you're baking into in particular your guidance in the handset market?

I wanted to clarify the QTL guidance. You're talking to sort of flat or levels with fiscal 2025 versus 2024

can you just walk through some of the puts and takes into gross margins for the third quarter

Any details you can give us on the exposure across power embedded and then maybe non-power analog parts

are we at the point where we expect, you know, yeah, I can get back into sort of the shared behavior

Are you seeing that on your customers outside of China at all? Or have they changed their behaviors

Can you maybe explain what's going on specifically in China auto. Is there any element of share loss happening there

have you noticed a change in the competitive backdrop on the number of sockets that are open for competition

is there a near- to medium-term inventory target on a days basis that we should be thinking about