Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| So, we feel good about the underlying growth potential in all those businesses |
| So, once we get through this macro environment and the inventories behind us, we still believe there's good growth drivers for those businesses |
| So, defense business has been a strong business for us over the last couple years for obvious reasons, but we continue to see a great outlook for that business |
| That's a key performance parameter and with that, we're delivering improved performance and we're getting good traction in automotive, data center, energy storage, and other markets |
| We feel really good about our position there |
| But if you look at our other businesses, I talked a little bit about defense, but we've got increasing defense budgets there, increasing funding for onshoring, that benefits us because of the technologies I mentioned around GaN and GaAs and our advanced packaging |
| As far as positioning, Qorvo is very well-positioned at both Android and iOS |
| On the on the Android side, we have been able to successfully and largely work through the channel inventory headwinds that we've had, and those are now turning into nice tailwinds for us |
| We think that's going to accelerate the smart home adoption, and we've got a great solution there and a portfolio of products and system solutions for BLE thread, ZigBee, and Matter |
| So, we feel good about that |
| So, we are excited about some of the most innovative and highly-integrated products that we have ever delivered that are -- we are going to be able to leverage that as part of our growth next year |
| We enjoy a position as the preferred strategic to RF supplier, all the customers we serve across are in the Android space, and especially when you think of Honor and Vivo and OPPO and Xiaomi and Samsung, the players we really know well |
| And so, we see a lot of great opportunities there |
| To your question, on what we are doing in our developments, in our road maps with them for multiple years, I would say, yes, we are confident and excited in our opportunity and the dollar content available to us independent of how that ebbs and flows |
| So, we have been able to leverage areas of strength |
| We have been able to leverage areas where we've got multiple generations of success |
| So yes, I do feel good about our sustainability there |
| So, we see that as a good long-term growth opportunity for us |
| I would just say, that is a very performance-driven customer that is going to drive us and everyone in the value chain to deliver good-performing products year after year |
| So, a lot of good growth drivers |
| Just in the last few weeks, we've received two awards that we're pretty proud of |
| We concede right? It's been five, six years, we've been talking about that, but 5G units and Android, great opportunities |
| And we've actually gained share through that period as well, which positions us very well for next year |
| And going forward, we see that increasing double-digit volumes every year for the foreseeable future |
| So, that's a great opportunity for us there as well |
| We've since seen that all of our customers, we've seen Xiaomi have a fantastic flagship phone launch |
| Ultra-wideband is seeing broad adoption I talked about in the car, and that's a great opportunity for us |
| So that's a great opportunity for us |
| So that's an exciting growth opportunity for us |
| We feel good about that |
| Statement |
|---|
| I mean, it is correct to summarize that there are some significant performance challenges with that phone |
| In infrastructure, it's been challenging for the near term for sure, with all the inventory correction that we're still working through, but there is an underlying upgrade cycle going there |
| our base station revenue lost four quarters, has been down more than 50% year over year |
| And the biggest challenge for us there is probably in the infrastructure space that that one's going to take the longest to recover |
| Still, some challenges to go in some of the other markets like infrastructure |
| The adoption's been much slower than we thought |
| There is some improvement, but yet I think a lot of investors are questioning how sustainable that improvement can be |
| Tim Arcuri So, just on that point, I mean, if you listen to some of the other peers in your HPA business, they still don't sound very good |
| Tim Arcuri And I think there was a question about this on the last earnings call, but I would be remiss if I didn't ask about Huawei and the risk that at least optically them gaining share would pose to the -- not just you, but everyone really |
| And it's been slow |
| But we have the lowest RDS on in the industry |
| I mean, our power business, some of that inventory correction is behind us |
| And so, it doesn't always come down to just the performance |
| Do you see that as a risk? And I think some of your peers have bought the phone, and they've torn it down and they say, well, this is actually like 4-year to 5-year-old technology |
| Tim Arcuri And just on that point, how much, I think, we all worry about competition from China |
| Android is not inconceivable right at all |
| Our MEMS-based sensors, we believe they're a disruptive alternative to touch user interface |
| We've already absorbed those headwinds |
| So, I don't know if you saw these news articles today, but there is some speculation that the top smartphone customer who has been pursuing their own modem is ending that pursuit |
| What's the right -- I mean, how much of that's inventory burned? So, like, what's the right normalized number? Do you think it's conceivable that we could get back to that number? I mean, it seems like that was a pretty heady period, but I'm just kind of wondering how much you think that your current revenues understated because of channel burn |
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