Michael Genovese: Okay, fantastic. Best for last, I want to ask somebody else has asked about the commercial lasers business. It was up to $57 million all-time record, guiding it sequentially down. Can it get bigger than this, can eventually get into the 60s, what’s the medium term outlook for commercial lasers?
Chris Coldren: Yes, we’re very excited about lasers. And the growth year-on-year, our laser business grew 30% in the trailing 12 months. And so we’re gaining share in lasers. And that’s really given the innovation and new product introduction, as we talked about the new markets that we’re getting. And so I would fully expect this to continue to be able to grow over the long-term as we introduce new products, especially in our ultra-fast lasers, which is getting great adoption by these new markets. So yes, we’re excited about the long-term outlook of organic growth in our lasers business.
Michael Genovese: Okay, great. And another question is just on Telecom. As you think about again, the medium term or couple of year, two, three year outlook for Telecom, is there still a confidence that this is a sustainable double-digit growth market for multiple years?
Chris Coldren: Yes, I’ll give you my comments.
Michael Genovese: Has that changed?
Alan Lowe: Well, I think certainly macro headwinds and uncertainty have us not thinking that every year, we’re going to be 10%, every year, I’d say long-term growth of bandwidth requirements. And if you look over time, it grows at 10%. And so I think over the midterm to your point, setting aside what happens in the economy, the trend rate, or the growth rate should be 10% in Telecom. Chris, you have anything to add?
Chris Coldren: Yes, and I think the only thing I’d add is that, on a pro forma base, the Lumentum plus Neo had we been together a year earlier, the Telecom and Datacom business is certainly up in the teens percent, if you will, in the first half of our fiscal ’23 compared to the first half of fiscal ’22. So, the growth has been there, despite the supply chain challenges and softening or the digestion of inventory coming from the cloud end market. So I think that’s demonstrated and our customers having tremendous backlog is also very encouraging. So, I think that opportunity is there. But obviously, as you pointed out, there’s macro factors, that loom out there that yes, I don’t think anybody has seen impact at our customer level at this point, but very difficult to handicap as we look out the next year or next two years. Thanks, Michael.
Kathy Ta: Thank you, Mike.
Operator: Unfortunately, this is all the time we have for the Q&A session today. So I’ll hand that over to Alan Lowe for any closing remarks.
Alan Lowe: Great, thank you, Charlie. I would like to leave you with a few thoughts as we wrap up the call. I’m very excited about the tremendous opportunities ahead of us as we scale our business to serve the exponential growth in network bandwidth in the artificial intelligence, machine learning, mobile, carrier and cloud computing markets. We have a proven playbook to win with our best-in-class products and technologies and to leverage these technologies in other markets. We’re committed to investing deeply in innovation and our manufacturing capabilities to deliver on customer needs today and into the future. With that, I would like to thank everyone for attending, and we look forward to talking with you again at LITE 2023 Lumentum’s Investor Technology event on March 7 at the OFC Tradeshow. You will find registration information about this event and other upcoming investor events on our Web site. Thank you very much for attending.
Operator: Ladies and gentlemen, this concludes today’s call. Thank you for joining. You may now disconnect your lines.
