“So I think all-in-all, I feel like it's kind of a down-the-middle view of fiscal '25 at this point.”

In context

“he tailwinds that we're seeing right now, so let's just go back. Consumption of all the inventory that we shipped to customers that they were working very hard to get implemented is going in line with our expectation. We think we work our way through that headwind mostly by the end of this quarter, our fourth fiscal quarter. That's a tailwind for next year. Obviously, the AI opportunity that we've talked about and being more second half, but for the full-year -- second half of fiscal '25, but for the full-year, that's a tailwind as we look ahead. Security business is doing what we said it was going to do, right? It's -- we've launched new products there even before the acquisition of Splunk and those products are getting good traction. So that's a tailwind as we look at next year as well. So I think all-in-all, I feel like it's kind of a down-the-middle view of fiscal '25 at this point. It's not a formal guide. I just wanted to give you a sense of what that looked like and we'll do -- we'll give you a better feel for what the longer-term looks like at our Investor Day in June, and then we'll give you a more fulsome guidance when we get to our Q4 call in August. Sami Badri: Thank you, Michael. I now want to hand it over back to Chuck for some closing remarks. Chuck Robbins: Thanks, Sami, and thanks to all of you for spending time with us today. I guess I'd say I'm pleased that we're getting to the tail end of this supply chain situation that we've been navigating for the last several years, on track to get this consumption issue behind us as we enter FY '25. I feel good about the overall demand environment we saw in Q4, which supports the fact that our customers are getti”