Blake Friedman : Got it. Helpful. And then just maybe a longer-term question thinking about the recovery of certain aspects of the business. I know you derisked your China Android exposure early into the cycle, I believe they only account for 5% of sales or so. So as the market normalizes, I’m just trying to get a perspective on how we should think about your long-term China and broad disclosure in terms of total revenue?
Kris Sennesael : Yes. So currently, it’s very low, right? As you point out, yes, China is less than 5% of our revenue. Samsung is less than 5% of our revenue. We still have Google, but also currently less than 5% of our revenue. As we all know, there is inventory overhang at most of those customers, they — especially inventory overhang at the phone level that needs to be clear, it’s improving. We see higher demand, higher bookings from those customers, but it’s improving slowly. Eventually — and it’s hard to predict the timing, but towards the start of 2024 that will be done and then there will be tremendous upside for us because we continue to win designs with those customers. And again, as that business will start ramping again, we are well positioned.
Operator: And your next question comes from the line of Christopher Rolland from Susquehanna.
Christopher Rolland : Thanks for the question. I would love to get into inventory and DOIs and play into your gross margins and underutilization. You kind of hit on this, but would love a little bit more detail in terms of your outlook longer term. So ultimately, where do you guys want your DOIs to go? When do you think you can get there? And I believe the assumption should be gross margins would kind of hang around here for a while until you reach that level? Is that the correct assumption?
Kris Sennesael : Yes. So first, on inventory, we have now two consecutive quarters where inventory came down slightly in absolute dollars despite the fact that this was our two slowest seasonal quarters. Looking forward to September and December with much stronger revenue and strong sequential revenue growth into September and further into December. We will continue to substantially bring down inventory in absolute doors and of course, on higher revenue as well in terms of days of inventory. The target is to try to get inventory on or about $1 billion or slightly below that. And — but to your point, it will take a couple of quarters for us to be able to do that. And so the gross margin will trend sideways for a couple of quarters until we get through this inventory reduction on our side.
And until, of course, the overall business starts picking up again, as we discussed with Android, the large customer, stronger tailwinds in the broad markets business and then the gross margin will start picking up again.
Christopher Rolland : And perhaps one for Liam. You guys haven’t emphasized at least on your call, your opportunity in BAW in some time. How are you guys feeling about that? I think you guys have done well, putting it into diversity receive. But would you expect some standalone BAW opportunities to kind of move the needle this year?
Liam Griffin : Yes, absolutely. We have certainly the most significant customers in very good shape and a lot of great development, shoulder to shoulder work, and that’s been going well. But there’s also BAW deployments in other markets that we can dive into, even in some of these things, access points and routers and infrastructure products. Think of BAW as a technology, not a product. So it’s a very difficult technology and only a few companies know how to do it and also the manufacturing scale and the technology there as well is very unique, and there’s just a few companies that can do it. But the aperture around bulk acoustic wave filtering is really strategic. It’s hard to do, and it doesn’t have to be handset only, as you mentioned.
