“we have – and I think I said this on our last call, we've had hundreds of product design – redesigns going on. And two of our high volume products that also have good margins will begin to ship in the redesigned space sort of towards the latter into Q1, and then into the balance of the year, which we think will be helpful as well.”

In context

“rrection on a lot of kind of the software space, like, how does that change your view of strategic activity? Thanks. Chuck Robbins: Thanks, Meta. So on the first one, I'd say, that it's a combination of both of those. We -- as we said earlier, we saw increased volumes in the broker network during the quarter, which candidly was an opportunity we took advantage of, which is why you saw the higher top line, we were able to get more products shipped to our customers, which we obviously were very happy about, but we had to pay more for those components, and we think that will continue probably over the next 60 to 90 days. And then, we think, some of those purchases will begin to become available from the same suppliers that have put the excess inventory into the marketplace. At the same time, we have – and I think I said this on our last call, we've had hundreds of product design – redesigns going on. And two of our high volume products that also have good margins will begin to ship in the redesigned space sort of towards the latter into Q1, and then into the balance of the year, which we think will be helpful as well. So it's a combination of both of those things. And that's what gives us a little bit of optimism that things will continue to improve during the year. On the second question, on the valuations, I've had this one a few times, and I've been asked, if our M&A strategy has changed because of the valuations. And I've said that, our strategy hasn't changed, but the openness to talk to us from some of the – the companies that thought they had different strategic exits might have changed. And so we haven't changed our strategy. We just think that, it potentially creates more opportunity for us with companies that might not have been willing because they thought there was a high-flying IPO, ahead of them that they may not believe is the case right now. And the market is obviously taking a much dif”