Adam Norwitt: Yes, thanks, Steve. I really appreciate the question. Yes, I mean, look, XMA and Q Microwave are fabulous companies. They’re certainly at a smaller scale for now you can imagine that we have high expectations for them over the long-term. And you correctly stated, we have really the broadest position in RF interconnect technology. And these companies bring us, just as we’ve gone a little bit into active optics, these companies bring us a little bit extra in RF that we can offer to our customers, a little bit more conditioning capabilities in the RF interconnect products. And that’s something, especially in the mil aero market that we see as being a really important part of our interconnect offering to our customers in mil aero, and I think that’s really exciting.
Busbars is an area that we’ve been in for gosh, almost the whole of my career. I remember 23 years ago or so when I was a general manager, and we were making one of our first busbars at the time, and we’ve been involved in busbars in the telecom industry. We’ve been involved in bus bars in IT. We’ve made great acquisitions. You’ll recall the acquisition of OXCEL [ph] several years ago, which brought us more into the industrial market. And what we really like about Conner, is Conner brings us really solidly into the busbar market in the automotive market in particular around EVs. And while we have today an outstanding offering of high voltage interconnect products that are used in EVs. There’s no doubt that a compliment to that is the busbar systems that are used also to move the energy around the car.
And Conner just does a fabulous job there. We’re just really excited to have them. And it’s a continued expansion of the reach of the interconnect system, making sure that our core technologies that we have, we have them in every one of the end markets where those find favor. And I think Conner is a wonderful piece of that puzzle.
Operator: Thank you. Our next question is from Matt Sheerin with Stifel. You may go ahead.
Matt Sheerin: Yes. Thank you and good afternoon, everyone. Adam, I’m hoping you can comment a little further on mobile device business. You called out relative strength in smartphones and wearables, but continued weakness on PCs and notebooks. And we’re hearing from some other suppliers and part of the supply chain that things are bottoming there and some of the players in Taiwan are starting to see some signs of a recovery there. Do you have any visibility in terms of your customers as you get into next year in terms of the refresh cycle and other things?
Adam Norwitt: Yes. Thanks very much, Matt. I think you correctly stated the case here, which is, we’ve actually had a pretty good year in smartphones and our team’s done a fabulous job there. But no doubt there’s been a digestion period in the other devices in particular, the devices like tablets and laptops and the like. And I think what we’ve seen over this pandemic impacted kind of last four years is there was an unusual surge and a kind of disruption of the normal buying patterns of these devices, because when everybody got sent home either to work or to study or however they wanted to interact, they had to get new devices to do that. And there was just a massive surge in the consumption of those devices at the end of the day.
And I think there’s still a digestion from that. What is it going to be next year? I mean, look, I have a hard time guiding this market 90 days out. I’m generally wrong when I do that, and I certainly wouldn’t get ahead of my speed and try to guide it for next year. But of course, at some point, that digestion of that surge of demand for those kind of devices, you would hope would normalize and I would expect that it would normalize that. I mean, I know for sure my own devices, I’m probably getting them. I run them a little longer than most, because we’re pretty cost conscious here at Amphenol. But even a couple of my devices, I’m starting to think about whether I need to get a new one.
Operator: Thank you. Our last question comes from Joe Giordano with TD Cowen. You may go ahead.
Unidentified Analyst: Hey, good afternoon. This is Michael on for Joe.
Adam Norwitt: Good afternoon, Michael.
Unidentified Analyst: So recently, there’s been a few like noteworthy EV and like semi-plant construction or equipment delays. So we’re just curious on how like the cadence of these projects influence internal decision making or guidance, whatnot?
Craig Lampo: Yes. I mean, look, we read all the same papers, and I think, individual plants may be accelerated or delayed at a given time. And I wouldn’t think that, an individual announcement doesn’t really have a dramatic impact on our overall business. But look, I did talk about in particular one area, which is the semiconductor capital equipment market, which I think if you asked everybody a year ago, and I’d say everybody except for maybe the two of us sitting here, they would have said, oh, this will never, ever have a cycle ever again. And sure enough, here we are this year, and there is a bit of a cycle in semi-cap equipment. We have a really strong position there. We’ve done a great job to position ourselves long-term as really an interconnect supplier of choice to that market.
And clearly, I mentioned earlier that we did see a moderation of our sales into semi-cap equipment as part of our industrial market. I don’t think that’s because of any individual plant. But I’d say that that is more related to I think a bit of a pause in the capital spending of some of the larger semiconductor manufacturers. EV related, I think we still see that market is pretty strong. We had a really strong performance in our automotive market last quarter. And again, 90 days from now, we’ll see what that looks like next year. But I wouldn’t necessarily point to any specific things related to EV factories being built or not being built.
Adam Norwitt: Well, operator, I think that’s our last question. And once again, on behalf of Craig and I and our whole 90,000 team around the world, we’d like to just thank everybody for your time today. We wish you all the best and wish that you and your families all stay safe. Thanks so much.
Craig Lampo: Thank you.
Operator: Thank you for attending today’s conference. And have a nice day.
