Kris Sennesael : Yes. So obviously, September is a very strong mobile quarter, especially with the content that we have at our large customer and a big ramp that we have supported over the last 10 or 12 years. And so most of the sequential growth in the September quarter is coming from our mobile segment broad markets might be flat to slightly down a couple percent on a sequential basis for the reasons that you just mentioned, right, there is a little bit of inventory overhang in some of those end markets, very similar to what our peers and competitors have indicated over the last two weeks at their earnings calls. We are obviously not immune to that. Although, again, I think our broad markets business, we are — as Liam indicated earlier, we are well positioned.
There’s a couple of spots, including automotive, right? That continues to grow double digit year-over-year. But overall, there’s a little bit of inventory overhang that needs to be flushed out in the next couple of quarters. And then broad markets will start growing faster as well.
Karl Ackerman : Got it. I guess maybe just to follow up on that, if I may. If you could just speak broadly to how your inventory looks outside of the handset business. Again, it sounds like we have some inventory depletion that is still needed to reoccur. But the flip side of that argument then is how do you refill the channel once the channel is depleted, perhaps that exits perhaps it’s more clean channel exiting the year. Just any thoughts into 2024 at a higher level in terms of how you look at broad markets once this inventory overhang abates?
Kris Sennesael : Yes. And maybe first, a clarification, right. A lot of the inventory overhang for — as it relates to Skyworks is not in the distribution channel at the component level. We typically manage that proactively and try to keep inventory at the component level, at a healthy level. The issue is more that certain customers put components into products and then the products didn’t fully sell through to the end customers at the level they were expecting. And so that needs to burn off. As I said, like it’s probably going to take a couple of quarters. But to your point, yes, once that is done, business will come back and will probably come back stronger as we will transition from under shipping to potentially shipping in line with end customer demand, and that will, by its self, fuel the growth.
Operator: And your last question comes from the line of Ruben Roy from Stifel, Nicolas.
Ruben Roy : Liam, when you went through the segments or the various units in the broad markets piece, you didn’t talk about communications infrastructure. And I think that historically, if you look at core Skyworks and then you add on top some of the timing stuff that you got from the I&A acquisition, that was probably a decent chunk of the business. And so I was wondering if I’m right about that. And then secondly, if you can give us an update on what you’re seeing. It sounds like that’s a pretty tough market right now and not a lot of visibility rest of this year and maybe even into next year. So would love to kind of understand how you’re thinking about that business.
Liam Griffin : Yes. No, great question. Actually, I should have given that answer already. But no, we actually have meaningful numbers in the infrastructure side. And actually, in the last quarter, we actually had a record in the infrastructure side. So with all of the other chop that we see in handsets and some of the consumer products, the infrastructure business is actually quite, quite strong. There’s a lot of room for us to grow into that portfolio. We have very good relationships, and the infrastructure industry tends to be a little bit cyclical, and we’re starting to see more opportunity there. Now some of that is just moving further up in 5G in other markets and even some of the upgrades that we see in Wi-Fi and technologies like that. So they’re all important to us, but infrastructure is still very solid, and we expect that to be a driver in ’24.
