“I would say on the positive side here is that the demand for both our products and services is solid.”

In context

“licon shortages. And that is what is creating the constraints. We expect them to be in the range of $4 billion to $8 billion. This is substantially larger than what we've had during the March quarter. Again, let me repeat the COVID-related disruptions did not affect the March quarter. So you need to keep that in mind. With respect to foreign exchange, we expect it to be nearly 300 basis points headwind. It was about 200 basis points headwind during the March quarter. For Russia, we said that the impact on a year-over-year basis is approximately 150 basis points, that reflects the three months of the quarter. We paused sales in Russia at the beginning of March. So it was a partial impact on the March quarter. So, obviously, on a sequential basis, it's an incremental factor to keep in mind. I would say on the positive side here is that the demand for both our products and services is solid. Tim has mentioned a number of times the iPhone 13 family is having a really strong year. We -- when we look at top-selling smartphones around the world, we've had pretty incredible results during the March quarter. The top six models in the United States are iPhones, the top four in Japan, the top five in Australia, five of the top six in urban China and so on and so forth. So the iPhone 13 has been truly a global success. And as you know and as you can tell even from our website, most of the iPad and Mac models are constrained today. They've been constrained for several quarters, because the demand is very good for those products. And the Services business as you know is growing double digits. So that's what gives us confidence for the June quarter and going forward. Wamsi Mohan : Okay.”