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Analyst
Joshua Buchalter
Period: Reporting periods mapped to calendar 2024 Q3 – 2026 Q3 (9 quarters).
- Questions
- 106on tracked calls
- Challenge rate
- 9%10 of 106 questions
- Companies
- 13questioned at least once
- Reporting periods
- 9with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 106 of 106 questions from 13 companies
QCOMQualcomm15 questions · 8 reporting periods · 2 of 15 challenging
Calendar 2026 Q2
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?
Show response
Confirmed December-quarter start, two hyperscaler engagements, POs in hand and wafers started, but gave no quarterly shape or sizing for fiscal 2027.
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?
Show response
Akash named both drivers (weaker premium mix, higher input costs) and gave a directional couple-of-quarters timeline, but declined to quantify the recovery path.
Calendar 2026 Q1
any details you're able to share or context on what the custom silicon engagement, what the scope is, what the magnitude is
Show response
Management confirmed large hyperscaler with multi-generation scope but declined specifics, deferring to June 24 Investor Day.
why you're confident fiscal third quarter can be the bottom for Android sales -- Android QCT sales into China
Show response
Akash explained both market scale decline and OEM inventory drawdown are reflected in Q2-Q3, with shipments to reconcile to market demand after Q3.
Calendar 2025 Q4
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?
Show response
Cristiano confirmed ADAS traction accelerating after BMW stack demonstration. VW Group partnership expanding. Ride Flex designs progressing. FY29 targets on track.
Any other factors that are driving the weakness beyond the memory pricing? It was good to hear the reiterated Samsung share
Show response
Cristiano firmly attributed weakness to 100% memory. Macro strong, demand strong, sell-through strong. DRAM availability for consumer electronics is down YoY due to HBM prioritization.
Calendar 2025 Q3
There's been a lot of noise, I think, about your lead Android customer potentially looking to use an internal modem more than they have in recent years
Show response
Cristiano dismissed noise as unnecessary, reaffirmed 75% baseline contractual share at Samsung with anything above as upside. Premium tier expansion is the primary growth driver.
maybe you could spend a few minutes talking about what you see as Qualcomm's right to win in the data center space?
Show response
Cristiano outlined two focus areas: power-efficient CPU for head nodes and new inference-dedicated architecture. Pleased with hyperscaler outcome, details at upcoming roadmap update.
Calendar 2025 Q2
Any details you can give us on the scope of that engagement? Is that for an ARM-based CPU? Is it an accelerator?
Show response
Cristiano declined to share specifics beyond prepared remarks. Confirmed advanced discussions and product execution underway, with more details expected as discussions conclude.
I think investors are worried about some level of pull-ins. Are you seeing any evidence of that specifically related to China?
Show response
Akash denied pull-in evidence, attributed Q4 handset strength to upcoming Snapdragon chip launch at end of September with strong OEM interest.
Calendar 2025 Q1
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?
Show response
Cristiano stated no material direct tariff impact, no material customer pull-ins. Diversified global supply chain positions company well.
Any updates to share on those negotiations, obviously, given the difficult backdrop to be signing deals right now
Show response
Alex Rogers confirmed Huawei discussions ongoing but no updates to share. Status unchanged from prior quarter.
Calendar 2024 Q4
I wanted to clarify the QTL guidance. You're talking to sort of flat or levels with fiscal 2025 versus 2024
Show response
Akash directly explained baseline market growth assumption of flat to low single-digits, noting China subsidy and AI replacement rate as upside not yet included.
Calendar 2024 Q3
If we sort of back out your top 2 customers, handsets are up, I think, around 50% year-over-year.
Show response
Palkhiwala attributed ex-top-2 handset strength to content increase and improving tier mix, noting the December guide includes no Huawei product revenue unlike the year-ago quarter.
how much your exposure within the auto market is driven by the China market now?
Show response
Palkhiwala declined to quantify China auto exposure, characterizing the design-win portfolio as globally diverse with disclosures promised later.
MPWRMonolithic Power Systems14 questions · 7 reporting periods · 1 of 14 challenging
Calendar 2026 Q2
it is great to see the initial orders for the DDR5, high speed interface controller.
Show response
Michael Hsing described the technology as extendable to other communications applications but management declined to size the SAM or a revenue ramp.
you gained nearly $120 million in the data segment in 1 quarter, which is pretty astounding
Show response
Answered the inventory concern directly with channel inventory as the indicator, then raised the enterprise data floor to 130% for the year.
Calendar 2026 Q1
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
Show response
Management declined to break down CPU vs AI accelerator contributions, noting it's difficult to separate and that all growth drivers remain intact.
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
Show response
Tony raised ED floor from 50% to 85% YoY. Comms expected above corporate average. Auto flat H1, ramp H2. Storage strong, notebooks cautious.
Calendar 2025 Q4
Is that still the right way we should be thinking about, you know, the non-compute exposed verticals into 2026
Show response
Michael tempered expectations on non-enterprise data growth repeating 40%+ but confirmed continued growth in 2026. MPS remains small relative to total addressable market.
you guys are suggesting you feel better about visibility there than you have in the past. Is that a fair read?
Show response
Bernie confirmed a fundamental change: customers putting longer-term backlog in books due to capacity concerns. This extends visibility beyond the short lead times of prior quarters.
Calendar 2025 Q3
Can you give us the puts and takes of which end markets you expect to grow more or less?
Show response
Bernie noted enterprise data and industrial came in above expectations. Additional customers layering in through Q4 with good momentum into early 2026.
how you're approaching these huge forecasts. And I'm sure competitive sockets with massive scale
Show response
Michael acknowledged AI market as a distraction but called it good money. Emphasized demonstrating best technology across all customer sizes and letting revenue come naturally.
Calendar 2025 Q2
is this opportunity comparable in size to what you've been able to generate on the GPU side?
Show response
Michael redirected focus away from enterprise data specifics, noting it is only 25% of business. The bigger growth story is the remaining 75% of the company.
Is that sort of an inventory dynamic? And you had gained a bunch of share, I believe, on DDR5 to start the year
Show response
Bernie explained caution on storage/compute reflects historical boom/bust patterns, not negative signals. Q2 results came in better than expected despite the caution.
Calendar 2025 Q1
Is that coming from your biggest customer in that segment? Or is that more confidence in some of the newer platform wins
Show response
Bernie confirmed confidence is broad-based beyond the main customer, with design wins and qualifications progressing. Michael added all customers can potentially be very big.
the 38% sequential growth in what's usually a sub-seasonal quarter for PCs is certainly eye-popping
Show response
Bernie countered inventory build concerns by noting the Q1 results were within low single-digits of internal expectations, which had anticipated the atypical uplift.
Calendar 2024 Q4
Would you expect the majority of these merchant ASIC programs to be dual-sourced
Show response
Bernie highlighted innovation and time-to-market as competitive differentiators for first-mover advantage but acknowledged they don't control customer sourcing decisions.
Any more clues you can give us on how you're expecting, either at the company level 2025 growth to shake out
Show response
Management declined to identify specific segment growth contributions, repeatedly emphasizing the diversified growth strategy as their consistent approach.
AMDAdvanced Micro Devices, Inc.13 questions · 7 reporting periods · 0 of 13 challenging
Calendar 2026 Q2
how should we think about, I guess, core count growth or whatever is the right proxy
Show response
Su said both units and ASP are growing, with unit growth higher, and pointed to supply-chain investments enabling the raised outlook.
Calendar 2026 Q1
how this TAM is inflecting and changing so meaningfully in such a short amount of time
Show response
Lisa Su provided comprehensive answer covering Agentic AI demand drivers, customer conversations, and workload analysis behind the TAM revision from 18% to 35%+ CAGR.
Was this comment referring to those engagements upsizing versus the announced initial deployments?
Show response
Lisa confirmed both existing partnerships (OpenAI, Meta) going well and a growing breadth of new customers engaging on significant-scale MI450 deployments for training and inference.
Calendar 2025 Q4
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?
Show response
Lisa Su said the 2026 PC TAM is likely down on memory inflation but AMD can still grow client through enterprise penetration and premium mix; modeling a sub-seasonal 2H vs 1H shape.
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...
Show response
Lisa Su framed AMD's chiplet architecture as workload-optimizable across inference, training and the stages of inference, keeping Instinct competitive against ASIC and SRAM-based alternatives.
Calendar 2025 Q3
can you maybe spend a minute or 2 talking about where you feel you're at competitively with ROCm?
Show response
Lisa Su said ROCm 7 delivers smooth customer onboarding with day-zero support for newest models, with continued library investment needed for training/inference with reinforcement learning workloads.
should we expect normal seasonality in the first half of next year?
Show response
Lisa Su said AI is driving durable multi-quarter CPU demand with large hyperscalers forecasting significant CPU builds into 2026; Turin ramp accelerating alongside continued Genoa strength.
Calendar 2025 Q2
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
Show response
Jean Hu cited server margin expansion and commercial PC mix as offsetting the MI350 ramp dilution, plus ongoing operational efficiency improvements across the product portfolio to hold 54% Q3 gross margin.
how much visibility and lead time do you need from your customers?
Show response
Lisa Su said AMD lead times run 8-9 months, with heavy co-engineering on MI400 Helios rack integration and ZT team actively working with hyperscale customers on 2026 data center readiness.
Calendar 2025 Q1
I wanted to ask about how the ex-China, ex-308 Instinct family performed in the quarter
Show response
Lisa Su said DC GPU Q1 was in line to slightly better than expected, with MI350 mid-year launch on track and strong customer interest setting up second-half ramp.
I was hoping you may expand on the drivers of upside in both the print and in particular the guide.
Show response
Lisa Su attributed strength to desktop ASP mix and ruled out tariff pull-ins; Jean Hu added that client units actually declined double-digits sequentially so the flat revenue came from ASP.
Calendar 2024 Q4
Could you clarify the drivers of the strength across desktop, notebook and enterprise?
Show response
Lisa Su denied inventory buildup, attributing strength to highest desktop sell-out in years and new mobile AI PC launches; said Q4 did not see tariff pull-ins.
was wondering if you could speak to whether or not the shape of the first half changed over the last few months
Show response
Lisa Su said the shape is similar to prior expectations but incrementally more positive, with MI300/MI325 design wins in 1H and MI350 driving higher ASPs and larger deployments later.
ONON Semiconductor12 questions · 6 reporting periods · 2 of 12 challenging
Calendar 2026 Q1
can you help us understand how much of that is from GaN, how much from silicon carbide
Show response
El-Khoury declined product-level breakdown but said it spans low voltage (mixed-signal on XPU) through high voltage (SiC JFET, SiC MOSFET). Breadth across ASIC vendors and hyperscalers is the differentiator.
Is that still the right way to think about it?
Show response
Trent confirmed no change to exit plan. $50M in Q1, $30-40M in Q2, annualizes to ~$300M. Done exiting in 2026. Algorithm still holds: market growth minus 5%.
Calendar 2025 Q4
can you quickly walk through the puts and takes on gross margins in Q1?
Show response
Trent clarified Q1 gross margin midpoint is actually up 30bps QoQ despite seasonal headwinds. FabRight initiatives offsetting Q4 utilization step-down. Cost actions driving expansion.
I was hoping you could comment on the auto market. It sounds like the inventory restock is so sorry. The inventory correction is complete.
Show response
Trent said auto roughly flat in Q1 from CNY headwinds. Industrial down low teens from seasonality and energy infrastructure. Other up low single digits driven by AI DC up high teens.
Calendar 2025 Q3
why it's the right time to start building up die bank inventory and taking utilization rates up, especially ahead of a couple of down seasonal quarters.
Show response
El-Khoury said mass market customer count up ~20% YoY justifying die bank builds. Base inventory at 112 days near low-end of 110-120 target. Even with die bank increase, total inventory declined $39M QoQ.
It seemed like there was a lot of volatility this quarter with Americas up so strongly and in particular, China down.
Show response
Trent said geographic swings partly reflect order routing changes by a large customer moving from Europe to Japan. Normalizing for that, Japan comes down and Europe goes up. Rest is normal patterns.
Calendar 2025 Q2
How did that develop in the quarter? And any changes in the pricing environment that you've seen over the last 90 days?
Show response
El-Khoury said pricing environment stable and within expectations. No new developments over the last 90 days.
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
Show response
Trent confirmed Q2 peak. Bridge inventory declining from 100 to 87 days. Expect continued drawdown in Q3/Q4 as strategic inventory burns through. Cash flow tailwind.
Calendar 2025 Q1
was this, in your view, an inventory issue that you guys needed to clean up? Or were there legitimate pockets of demand that weakened?
Show response
Trent said Q1 tracked expectations closely. Industrial better than expected, auto on target. Early signs of stabilization in traditional industrial.
could you maybe explain a bit of what's in the $283 million restructuring charge that was in gross margin
Show response
Trent explained COGS restructuring included inventory write-offs from capacity removal and consumables. OpEx line was workforce restructuring charges.
Calendar 2024 Q4
how much inventory you expect to strip out downstream at your tier ones and where levels, I guess, are now
Show response
El-Khoury said tier-1 inventory varies by customer balance sheet. ON is not pushing inventory out and believes it is under-shipping demand.
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
Show response
Trent walked through margin bridge: half from under-absorption calculation on lower revenue, 100bps unfavorable product mix, ~150bps from lower utilization.
MCHPMicrochip Technology11 questions · 6 reporting periods · 1 of 11 challenging
Calendar 2026 Q2
Was it mainly with channel partners, but was it channel plus direct customers, more across different end markets
Show response
Steve said the increase was broad-based but varied by product and customer mix; CFO said it was generally well accepted by customers.
Calendar 2026 Q1
How aggressive are you observing your competitors on pricing right now?
Show response
Steve said Microchip is watching competitors closely and protecting repaired customer relationships, willing to adjust prices only where input costs stress a specific area.
I was hoping you can maybe reflect on your confidence that there is enough foundry capacity and investment going on right now
Show response
Steve explained why MCHP passed on a 300mm fab, said trailing-edge capacity is tightening but partners are adding, and expressed confidence outside bleeding-edge nodes like 3nm.
Calendar 2025 Q3
what's driving the confidence after March that you're going to see those 2 to 4 quarters of very strong results
Show response
Steve outlined three tailwinds: closing of $50M sell-in/sell-through gap, direct customer inventory correction driving restocking, and strong seasonal patterns in June and September quarters.
should we expect meaningful revenue contribution in 2027 with the part coming out at the end of 2026
Show response
Brian said TAM exceeds $2B annually with 10%+ CAGR through 2035. Production targeted for June 2026 with first revenue in late 2026 and 2027. Products target all segments: hyperscaler, enterprise OEM, and ODM customers.
Calendar 2025 Q2
what you're looking for that's going to give you the signal that it's all clear to raise utilization rates
Show response
Steve explained the December wafer start increase is mathematically driven: current production is so far below shipment rates that waiting for full inventory normalization would require an impossible step-function ramp. Must grow gradually over 5-6 quarters.
any rules of thumb that we should think about as to how those charges should unwind
Show response
Eric indicated inventory write-downs will unwind faster than underutilization charges. Factory ramping will be gradual over time, meaning underutilization charges persist longer.
Calendar 2025 Q1
Should we think about sort of the sustained lower production levels until you hit, I think it's 130 to 150 day on books
Show response
Steve explained production must start ramping well before 130-150 days to avoid needing 40-50% capacity growth in a single quarter. Eric added inflection likely not this quarter or next.
what's improved from a visibility standpoint that's allowing you to conclusively say we've hit the bottom here
Show response
Steve cited three factors: distributor sell-through increasing, March/April bookings significantly higher, and crawl chart showing June and September backlogs above prior quarters.
Calendar 2024 Q3
how you would expect underutilization charges to trend in the quarter
Show response
Eric said underutilization charges will persist but noted current inventory write-downs could become future tailwinds as long-lived products sell through.
coming out of this cycle, are you thinking about your relationship and the importance of the channel
Show response
Ganesh reaffirmed distribution as a strategic pillar at ~50% of revenue, noting ongoing evolution of incentive and compensation models with partners.
NXPINXP Semiconductors10 questions · 5 reporting periods · 1 of 10 challenging
Calendar 2026 Q2
anything about your portfolio that makes it a reason why you would see restocking later or is there any conservatism
Show response
CFO explained the mix difference (47% company specific growth drivers) and said western Tier 1s are still placing late, hand to mouth orders.
I was hoping to ask about gross margins in the second half. I think on the previous call you talked about
Show response
Answered the foundry fee timing clearly; the utilization portion of the answer was muddled, with IR adding back end input cost detail.
Calendar 2025 Q4
how are you thinking about utilization rates as we sort of enter a better cyclical period
Show response
Bill said Q1 gross margins driven by annual price concessions partially offset by operational efficiencies. Utilization stays in high 70s. Prebuilds expected to increase from 7 days to 15-20 days by end of 2026.
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
Show response
Jeff confirmed long-term model is intact and analysts can compute the catch-up math. Expressed strong confidence that after H1 2025 inventory digestion, things are reaccelerating.
Calendar 2025 Q3
I was maybe also hoping that you could provide some color on the China auto market, what you saw there intra-quarter
Show response
Rafael confirmed China auto is strong with good customer traction and lean inventory. Bill added that majority of Asia auto is served through distribution with best-in-class channel management.
would you say the difference in what you're seeing versus peers is because of inventory management or more product cycle driven
Show response
Rafael attributed outperformance to disciplined inventory management in the downcycle plus company-specific design wins in core industrial. Cautioned NXP is not a bellwether for Industrial and IoT.
Calendar 2025 Q2
are you seeing them sustain, accelerate, pull back on their investment in newer technologies and features like SDV
Show response
Kurt argued SDV investment is accelerating as Western OEMs recognize they must catch up to China's lead. SDV delivers cost advantages and consumer value that are competitive necessities.
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
Show response
Kurt detailed AI-driven order pattern analysis that detects deviations. Very few tariff-related pull-in requests observed and generally not supported. Application-specific business has smooth order trends.
Calendar 2024 Q4
how that changes your conversations with your OEM customers and the potential pull for your broader set of hardware solutions
Show response
Kurt explained TTTech Auto enables co-design of SDV architectures with OEMs, moving NXP up the value stack with software capability alongside hardware.
do you expect to still be under-shipping in that second quarter? Is there any way to quantify that amount
Show response
Kurt confirmed that flat to slightly up Q2 revenue still implies undershipping versus end demand, with continued discipline on 8-9 week channel inventory.
Show 7 more companies
ADIAnalog Devices8 questions · 8 reporting periods · 1 of 8 challenging
Calendar 2026 Q3
The 74% gross margin outlook is pretty staggering and we're back to those 2022 peak levels.
Show response
Puccio said ~74% is maintainable given high utilization and a 49% industrial mix with room to shift, while balancing growth investments.
Calendar 2026 Q2
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
Show response
Puccio detailed Q3 gross margin expected down ~50bps from absence of channel repricing benefit, with mix a slight tailwind and utilization neutral.
Calendar 2026 Q1
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
Show response
Rich noted industrial book-to-bill well above 1 excluding pricing, with ATE growing 30%+ sequentially in Q2. Non-ATE/A&D industrial still 20% below prior peaks with broad-market normalized ordering patterns.
Calendar 2025 Q4
Could you maybe speak to what's driving the confidence in the visibility there? Any metrics you're able to give on lead times?
Show response
Rich clarified he confirmed Q2 historical seasonality, not guidance. Lead times sub-13 weeks limit visibility beyond current quarter plus one, despite broader ADO strength.
Calendar 2025 Q3
I think a couple of quarters ago, you had mentioned $2.7 billion being sort of the level at which you hit 70% gross margins. It looks like that's seemingly around $3 billion
Show response
Rich explained the 70% target always required normalized industrial mix (historically higher than current 45%), expecting Q4 exit around 49% industrial mix to achieve the threshold.
Calendar 2025 Q2
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?
Show response
Rich distinguished between restocking and purchasing acceleration from lean inventory levels, noting ADI had been undershipping industrial for two years and expects to stop undershipping in Q3.
Calendar 2025 Q1
Does either the April quarter guidance or the fiscal 2025 initial outlook of being in your target range include any sort of channel refill
Show response
Rich confirmed Q2 guide assumes shipping to sell-through only with no channel adds, noting they're comfortable operating below 7-8 weeks given higher on-hand die bank inventory.
Calendar 2024 Q4
I think you might be the only company in broad-based semis that called out higher utilization rates this quarter
Show response
Rich noted two consecutive quarters of modest utilization increases from Q2 trough, enabled by hybrid manufacturing model's swing capacity. Expects continued improvement as revenue recovers through FY2025.
TXNTexas Instruments7 questions · 4 reporting periods · 0 of 7 challenging
Calendar 2026 Q2
can you just walk through some of the puts and takes into gross margins for the third quarter
Show response
Julie pointed to 70-85% fall-through ex-depreciation as a modeling placeholder; Haviv added gross margin should be a little higher, not flat.
Calendar 2025 Q4
Any details you can give us on the exposure across power embedded and then maybe non-power analog parts
Show response
Haviv said data center business is based on analog (slightly more power than signal chain) with thousands of diverse parts per rack. BCD technology in Sherman is being built to serve higher-power VCore sockets, with products sampling and expected to expand TI's data center opportunity.
are we at the point where we expect, you know, yeah, I can get back into sort of the shared behavior
Show response
Haviv said this is one of the slowest semiconductor recoveries ever despite secular content growth in automotive, industrial, and data center. Capacity and inventory investments will serve TI well when the cycle strengthens, with customers already valuing TI's immediate response capability.
Calendar 2025 Q2
Are you seeing that on your customers outside of China at all? Or have they changed their behaviors
Show response
Haviv said only a handful of savvy customers are already shifting to TI's U.S. capacity, with broader customer base still confused about tariff types. Expects the opportunity to grow.
Can you maybe explain what's going on specifically in China auto. Is there any element of share loss happening there
Show response
Haviv attributed China auto softness to inventory correction after running hot in 2024, not share loss. Mike added all major regions performed similarly sequentially in auto.
Calendar 2024 Q4
is there a near- to medium-term inventory target on a days basis that we should be thinking about
Show response
Rafael explained part-by-part inventory management approach and guided to a further ~$100M+ increase in Q1 before stabilizing. Direct and specific.
have you noticed a change in the competitive backdrop on the number of sockets that are open for competition
Show response
Haviv said no significant change in competitive dynamics in the last couple of quarters despite the down cycle. Straightforward answer.
AVGOBroadcom Inc.5 questions · 5 reporting periods · 1 of 5 challenging
Calendar 2026 Q3
are you expecting most or all of this to be financed through the XPV?
Show response
Hock noted Anthropic is heading toward an IPO which changes its investment credit, and OpenAI is less clear; Amie added financing will be evaluated case by case.
Calendar 2026 Q2
how should we think about the evolution of your revenue per gigawatt over time?
Show response
Hock said content per gigawatt will rise as XPUs add SRAM, embedded CPU cores, multi-die and more HBM, growing generation to generation rather than every quarter.
Calendar 2026 Q1
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
Show response
Hock said growing customer confidence in XPU silicon combined with long-term roadmap commitments drove the improved visibility and disclosure.
Calendar 2025 Q3
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
Show response
Hock said all XPU customers are standardized on Ethernet protocols for scale-up and scale-out; hyperscalers using GPUs also deploying Ethernet for scale-out/across.
Calendar 2025 Q2
I realize it's a bit nitpicky, but I wanted to ask about gross margins in the guide. So your revenue implies sort of $800 million incremental increase with gross profit up, I think, $400 million to...
Show response
Kirsten confirmed XPU margins slightly lower than rest of business (ex wireless); Hock pushed back more sharply on the simple math framing.
CRDOCredo Technology Group Holding Ltd5 questions · 3 reporting periods · 1 of 5 challenging
Calendar 2025 Q3
how we should expect the adoption curve to to ramp for for the the LROs LRO solutions
Show response
Asked about the LRO adoption curve; Brennan said 800 gig LRO is seeing success and 1.6T will become more popular given power-efficiency needs.
you mentioned I think, something about the your customer is not necessarily ramping linearly
Show response
Probed the non-linear customer ramp and forward visibility; Brennan said individual customers do not ramp linearly, but the trend is toward broader customer and medium diversification.
Calendar 2025 Q2
How does the STK and debug tool differ from what your competitors are bringing to market?
Show response
Brennan said PILOT touches all three innovation tiers with telemetry, diagnostics and analytics, setting a reliability and up-time benchmark as it extends into PCIe.
Calendar 2024 Q4
how you think your customers think about second and third sourcing in the AEC market specifically?
Show response
Bill acknowledged hyperscalers want multiple sources and said Credo competes from the high ground by being first to sample, qualify and ramp.
I'd be curious to hear you talk about your - the catalyst for further inflection in the DSP market?
Show response
Bill said near-term optical growth is driven by 50-gig and 100-gig per lane designs; the 200-gig per lane opportunity is more of a fiscal '27 volume market.
INTCIntel Corporation4 questions · 2 reporting periods · 0 of 4 challenging
Calendar 2026 Q1
how important is your captive capacity to winning business with customers on a multiyear basis?
Show response
Dave acknowledged supply is predominantly internal today and expects to win external foundry customers over time, but did not elaborate on how captive capacity specifically drives wins.
investors are directionally really struggling with how to model the CPU demand for agentic workloads
Show response
Dave provided GPU-to-CPU ratio framework: 7-8:1 in training, 3-4:1 in inference, near parity or flipping in agentic. Also noted CPU opportunity in edge and physical AI.
Calendar 2025 Q3
Was this -- maybe could you provide more context on the scope of this? Is this for potential foundry customers? Or are these products?
Show response
Lip Bu described Central Engineering driving ASIC design to extend x86 IP reach and build purpose-built silicon for system and cloud customers. Foundry and packaging support these efforts. Broad answer without specific application details.
given your balance sheet is in a lot different spot than it was 3 months ago, has anything changed from that regard?
Show response
Lip Bu said 14A customer engagement increased since last quarter. Customers see tremendous demand requiring Intel 14A strength. Attracting key process technology talent. More confident than last quarter when abandonment was disclosed as a risk factor.
MRVLMarvell Technology1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q2
Can you maybe elaborate on what you would expect to see from a potential customer who's exploring multiple tracks
Show response
Murphy declined to elaborate further on multi-track customer strategies, citing he had given maximum color already. Deferred to AI Day for discussion of different business models.
NVDANVIDIA Corporation1 question · 1 reporting period · 0 of 1 challenging
Calendar 2026 Q2
How should we think about Vera Rubin against this benchmark? it is obviously a new architecture.
Show response
Colette confirmed Vera Rubin production starts in Q3, ramping through Q4 and into Q1 of next year, with demand already planned and POs in hand from major customers.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| QCOM Qualcomm | 15 | 13%2 of 15 questions |
| MPWR Monolithic Power Systems | 14 | 7%1 of 14 questions |
| AMD Advanced Micro Devices, Inc. | 13 | 0%none of 13 questions |
| ON ON Semiconductor | 12 | 17%2 of 12 questions |
| MCHP Microchip Technology | 11 | 9%1 of 11 questions |
| NXPI NXP Semiconductors | 10 | 10%1 of 10 questions |
| ADI Analog Devices | 8 | 13%1 of 8 questions |
| TXN Texas Instruments | 7 | 0%none of 7 questions |
| AVGO Broadcom Inc. | 5 | 20%1 of 5 questions |
| CRDO Credo Technology Group Holding Ltd | 5 | 20%1 of 5 questions |
- QCOMQualcomm · 15 questions13%2 of 15 questions
- MPWRMonolithic Power Systems · 14 questions7%1 of 14 questions
- AMDAdvanced Micro Devices, Inc. · 13 questions0%none of 13 questions
- ONON Semiconductor · 12 questions17%2 of 12 questions
- MCHPMicrochip Technology · 11 questions9%1 of 11 questions
- NXPINXP Semiconductors · 10 questions10%1 of 10 questions
- ADIAnalog Devices · 8 questions13%1 of 8 questions
- TXNTexas Instruments · 7 questions0%none of 7 questions
- AVGOBroadcom Inc. · 5 questions20%1 of 5 questions
- CRDOCredo Technology Group Holding Ltd · 5 questions20%1 of 5 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q3 | 4 | 0%none of 4 questions | 2 |
| 2024 Q4 | 14 | 7%1 of 14 questions | 8 |
| 2025 Q1 | 11 | 18%2 of 11 questions | 6 |
| 2025 Q2 | 18 | 6%1 of 18 questions | 11 |
| 2025 Q3 | 18 | 22%4 of 18 questions | 10 |
| 2025 Q4 | 13 | 0%none of 13 questions | 7 |
| 2026 Q1 | 14 | 7%1 of 14 questions | 8 |
| 2026 Q2 | 12 | 8%1 of 12 questions | 9 |
| 2026 Q3 | 2 | 0%none of 2 questions | 2 |
- 2024 Q34 questions · challenge rate 0% (none of 4 questions) · 2 companies
- 2024 Q414 questions · challenge rate 7% (1 of 14 questions) · 8 companies
- 2025 Q111 questions · challenge rate 18% (2 of 11 questions) · 6 companies
- 2025 Q218 questions · challenge rate 6% (1 of 18 questions) · 11 companies
- 2025 Q318 questions · challenge rate 22% (4 of 18 questions) · 10 companies
- 2025 Q413 questions · challenge rate 0% (none of 13 questions) · 7 companies
- 2026 Q114 questions · challenge rate 7% (1 of 14 questions) · 8 companies
- 2026 Q212 questions · challenge rate 8% (1 of 12 questions) · 9 companies
- 2026 Q32 questions · challenge rate 0% (none of 2 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Demand39
- Competitive Dynamics28
- Revenue Growth24
- Cloud & AI23
- Inventory19
- Margin16
- Innovation & R&D12
- Supply Chain11
- Pricing9
- Product Launch8
Show all 19 topics
- Guidance Reliability7
- Cost Pressure7
- Capex Investment6
- Geographic Expansion4
- Trade Tariffs4
- Capital Allocation1
- Credit1
- Regulation Policy1
- M&A1