Dave Pahl: Yes. I’ll take that question and Rafael, if you want like to add. But I think certainly looking at any particular quarters we’ve talked about before that our performance is just best measured over time. And I think that that’s the way the markets behave and even looking at one year or even longer, you’ve got to look at three and five and 10 years of performance especially when you go through choppy times like we’ve been through in the last 18 months or so. And so pricing just to comment on that, I’d say that there’s nothing unusual going on with pricing. As you know, pricing doesn’t move quickly in our markets, our practices and pricing though I know that they’ve changed with many of our peers, our practices have not changed.
We just continue to price aggressively in the marketplace, but pricing isn’t the reason why customers choose our product. There’s usually not the top few reasons why they choose our product. So really no changes on that front. So thank you for those questions, and we’ll go to the next caller.
Operator: Harlan Sur of JP Morgan.
Harlan Sur: Hello, good afternoon. Thanks for taking my question. In the last earnings call, the team talked about seeing increasing cancellations. Did cancellations continue to increase to Q4? Did they level off? And then we are consignment-based business, what are the aggregate trends that you are seeing within your customers six to nine months, sort of rolling forecast?
Dave Pahl: Yes. Harlan, so the first question is, in a weakening environment, not too surprising. The cancellations were up in the quarter. So we did see an increase there. And from a consignment versus classic backlog, customers really not much difference there. Their visibility €“ even though we’ll get visibility out six months, their visibility to their demand can change, as we know very rapidly within the 90 days or certainly even within 30 days as those windows move a long time. So I would say that there’s not much changed in that. And oftentimes if customers aren’t canceling orders, what they’re doing is rescheduling them back out in time. So certainly seeing that happen as well. Do you have a follow on?
Harlan Sur: Yeah. So embedded drove 10% year-over-year growth in the second half of last year, it also drove slight sequential growth in the fourth quarter. So the business is holding up relatively well versus analog. And I know that the team seems to have moved past some of the headwinds in this segment as you’ve sort of focused investments on selective markets and opportunities, right? Is that refocusing, like helping the near-term trends in embedded? And with all of the restructuring, how do you think about the forward opportunities and growth outlook for embedded over the next few years?
Dave Pahl: Yes, yes. Thanks. Great, great question. Thank you for it. Yes, first I would just say that our efforts having impact, they are. And I would just say that we’re pleased with the progress that we’re making there with embedded. And we believe that progress in those results just need to be measured again over time. So, we continue to work on that business and we’ll continue to do that. When we think about the market opportunity for embedded and analog, we think that both of those markets have about the same growth opportunities. So in time the growth rates will converge, though they could be €“ you could see differences in any given quarter. But longer term, we believe that they can grow at the same rates. So thank you. And Harlan will go to the next caller, please.
Operator: Next we’ll hear from Timothy Arcuri of UBS.
