“We see incremental efficiencies as we drive to our long-term model of 60% gross and 40% operating margins.”

In context

“ng in power management SoCs focused on EVs. These announcements build on shared IP across clients and data center and our existing Intel SoC footprint of more than 50 million vehicles worldwide. Our strategy will continue to broaden our exposure to the growing auto market on both the product and the foundry sides of our business. Finally, underpinning our across-the-board progress in 2023 is our operational and financial discipline. As our new internal foundry model, which is designed to drive greater transparency, accountability and focus on cost begins to take root, we expect to unlock further cost savings and efficiencies in 2024 and beyond. We have officially transitioned to this new operating model on January 1, and we'll report the new segmentation format as part of our Q1 earnings. We see incremental efficiencies as we drive to our long-term model of 60% gross and 40% operating margins. As I reflect on our progress in 2023, I am incredibly proud of our employees whose commitment and perseverance were instrumental to the execution of our ambitious strategy. Together, we exited the year accomplishing exactly what we set out to do. We improved our execution engine consistently being on track or ahead on our process and product roadmap. And as I said at the beginning of my remarks, we are confident in our performance and financial trajectory for the year ahead. We know we have much work in front of us as we work to regain and build on our leadership position in every category in which we participate. We will maintain our relentless focus on our mission and commitment to driving long-term value for our shareholders. With that, let me turn things over to David. David Zinsner:”