Hock Tan: Okay. Interesting question. Let me try and address that. First, I assume you imply when you say orders or forecast on shipments, we only guide Q1, so I can only give you Q1. And it’s all — we have been all on paper, orders. These are real orders, non-cancelable. So, we’re giving you numbers that we intend to ship that we think the customer needs as far as we can scrub. And we have it. These are committed orders. These are not forecasts at all, especially when you talk about Q1, which ends, by the way, end of January. We have orders beyond end of January as it is. So, these are very committed orders. And in that — by that same token, pretty committed revenue forecast. Just to make it clear. You’re right — and by the way, we have pretty good visibility for — from that particular customer, too.
Now beyond that, to the second part of your question, yes, we’re very pleased with content increase that we have experienced, not every year necessarily, as you know. But over a period of years, we always see this content increase. And we’re still very, very well positioned in our product line — in those few product lines that are, I call it, almost franchise in our North American customers. And this is Wi-Fi, Bluetooth, this is RF front end, and this is touchscreen controllers, high performance, mixed single. And that’s — we can only — and that’s all we focus on because these are areas where we are the best, we believe we have the best technology and delivering value to our customers. There’s no reason to find something else where you’re not the best and hope to gain share from someone else.
I could apply the same to my competitors in their thinking.
Edward Snyder: But you don’t see the competitive landscape shifting and making things more difficult for you in that, especially in the RF section in the next coming year or so, you think your franchises or your franchises and you…
Hock Tan: Answer is no.
Operator: And our last question of the day will come from the line of Pierre Ferragu with New Street Research.
Pierre Ferragu: Hock, you mentioned you’re fully booked for 2023. You’ve had a lot of questions on that one. So, I apologize in advance for squeezing in one last one. And I was wondering, if you look at the year as you see it books today, if you could tell us in this like booking dynamics, where do you see for the full year 2023 the most growth and the least growth? I know you can’t give us like numbers, and you don’t want to guide. I completely accepted that. But if you could give us like a kind of idea of where things keep growing very fast, where things are slowing down in your order dynamics over the full year.
Hock Tan: Infrastructure is still holding up very well, as we have said in this call so far. We see — we continue to see infrastructure. And infrastructure, by looking at it, comes from hyperscale, in building their data centers and components to their data centers; in service providers, like telcos, where we see our strength in broadband access, gateways and broadband. And I know people are finding hard to imagine, we’re seeing it even in enterprise, where we do not — where — that’s why I made a comment earlier, we do not see across a cross-section of large enterprises, reduction in the IT spending for 2023. We have not seen — we have not come across too many enterprise customers, and I’m talking real end-use customers, end-user enterprise customers who are seeing their IT budget drop below €˜22.
For most that we have asked, it’s either flat or even up as they all continue to have the compelling need to keep modernizing their platform and workloads and digitizing their business model. And I think that is the only — that was the only explanation given to me why there was no such clear reduction even as we all hear every day the likelihood, possibility of a global recession.
