And there is also in our guidance, the potential impact from FX volatility. And so what is baked into our guidance is just that our current view to the best of our knowledge, of the macro environment, the impact of interest rates and also the impact of foreign exchange rates that we see at this stage, knowing that things can evolve. It’s also important to note that this is our first quarter. We still have nine months to go, and we want to make sure that we remain prudent in the current circumstance where the macro environment remains uncertain.
Jeff Kvaal: Sidney, thanks very much, and we’ll take two more questions, Anthony?
Operator: Our next question will come from Wamsi Mohan with Bank of America. You may now go ahead.
Wamsi Mohan: Yes. Thank you. Can you talk a little bit about how much incremental order’s in your backlog you were able to satisfy versus what you had anticipated going into the quarter given the fact that some of these supply chain improvements came through the course of the quarter? And can you also maybe help us think through what you’re expecting from an FX headwind now in fiscal 2023 relative to your SAM guide of a $0.30 headwind to EPS. Thank you.
Antonio Neri: Thanks, Wamsi. I will answer the first part and Tarek, on the second part. I mean not enough. I mean, the fact of the matter is that we made some progress, but not enough progress against that very strong order book. And that’s why we exit Q1 with 2x normal historical levels. Now, we expect that to continue to improve, obviously, throughout the years as supply continue to ease. But again, we have a good pipeline in front of us. And so the goal is to continue to fill the order book. But when you ask me about how much progress we made in Q1, not enough. If you look at our Intelligent Edge business is extremely elevated. Our HPC business, when I look about the future deliveries we have to live is always very, very strong. Storage is good, and Compute is still there. So we have work to do, more work to do. And then on FX, I think —
Tarek Robbiati: Oh, yes. Thank you, Antonio, and thank you, Wamsi. This gives me the opportunity to remind everybody that at SAM in last October, we flagged at least a $0.30 headwind from foreign exchange this fiscal year. Quite honestly, the headwind we have experienced in this quarter of 550 basis points is above what we anticipated. We still feel that we can attain our new guide on revenue growth and EPS, notwithstanding the current FX headwinds and but things can always evolve and this is why we remain prudent in our full year guide, with regards to revenue and EPS growth. So that 30-plus percent EPS impact from FX has risen, but we are managing it and factoring it into our new guide.
Antonio Neri: I mean, on that point, I think it’s simply remarkable because we have to cover all of that $0.30 started right operationally.
Tarek Robbiati: Yes.
Antonio Neri: The fact that, we are raising the midpoint from the $2, which included a $0.30 headwind now $2.06. It shows you that the mix of the business is going in the right direction, the expansion of the margins and the productivity we continue to drive. Despite the fact the FX actually got worse at the time. And the 550 basis point is pretty significant. So I think from our vantage point, we are doing all the right things and we’re confident in that guidance we just provided to you.
Jeff Kvaal: Thanks very much, Wamsi. And Anthony, last question, please.
Operator: Our final question will come from Ananda Baruah with Loop Capital. You may now go ahead.
