It’s multi source, that’s about how you buy and how you sell. So that’s not really — that’s not unusual, but in the higher end products, high micros and whatnot, the input — as long as the input costs are continuing to stay where they are or go up, we don’t believe there’s going to be the pricing pressures or ASP erosions that maybe we’ve seen in the past. I mean, as you know, Joe, the gold, silver, palladium played them down a little bit. Silver, copper, they’re still up, okay, and labor costs remain elevated. So as long as they remain elevated and the input costs are up, we don’t see the suppliers for the most part, bringing prices down. We’ll see, but we don’t think so.
Joe Quatrochi: Got it. And maybe as a follow-up to that, I mean, we’re starting to see some reports of just price cuts from some of the foundries in Asia. I mean, I guess, how do you think about the flow-through of that? I assume that probably takes some time to play out to kind of get to where you are in the overall kind of distribution supply chain?
Phil Gallagher: Yes, short term, yeah, we’re reading the same things and seeing some of the same talk of the suppliers, but short term, we don’t see that have [indiscernible] any major effect on us. Probably a better question for the suppliers.
Joe Quatrochi: Fair enough. And then just maybe as a follow-up, Asia, China weakness continuing, I think last quarter you talked about that lasting for at least the next two quarters. Has anything changed, I guess, from that view from last quarter? Or are you seeing things maybe finding a bottom or getting maybe slightly better just from maybe shipping closer to what in-demand is rather than inventory reduction?
Phil Gallagher: [Technical Difficulty] across all the regions, spend a lot of time in Taiwan with the Taiwan team, but also the regional leaders from China, Southeast Asia and Japan. And as you said, yeah, the demand is definitely down a bit. no question about it. But there’s some good signs around optimism over the next, let’s say, several quarters, tough to call to call because there’s — might be more optimism in some industrial applications versus consumer or vice versa. But we did hear a lot about and you’re reading a lot about the wind, solar, the energy storage and charging that in China is basically backing and we’re well positioned there. So as we position ourselves, we’re — I’m not bullish by any stretch, but I’m not negative either.
I think there’s some positive signs and China will bounce back. There’s no doubt we’re well positioned there. But across Asia Pac, overall, again, stable. Japan has been positive for us. But I should add also that we’re not overly weighted, Joe. We’re not overly weighted to China within Asia or certainly [indiscernible].
Joe Quatrochi: Helpful. Thank you.
Operator: [Operator Instructions] Our next question is from Matt Sheerin with Stifel. Please proceed with your question.
Matt Sheerin: Yes, thank you. And, hello, Phil, and everyone. Just following up on the first question, just regarding the cycle. Obviously, things seem to be holding up better than most people expected, particularly in EMEA, in North America, and particularly compared to your bigger competitor, So as you think about this below seasonal guide for the next quarter, should you expect that to continue into December where that should be below seasonal with this whole correction and downcycle, and would you expect March to be similar or would that be back to seasonality or is the visibility too tough at this point?
