“Stacy, no change on the framework that we've given on buybacks before. We're continuing to focus on prioritized anti-dilutive buybacks and opportunistically look for -- on top of that, if we can do additional buybacks.”

In context

“market. And as you'll see in the guidance that we gave, we are still continuing to be optimistic with the gross margin picture. Stacy Rasgon: Got it. That's helpful. For my follow-up, I wanted to ask about the buyback. You bought back quite a bit of stock, I believe, in the quarter. And I think at the Analyst Day, you talked about buybacks is only really being anti-dilutive. But it looks like we are seeing share counts come down. I guess how should we be thinking about the buyback going forward given the cash generation? And I noticed this quarter, you didn't guide the share count on a more structural level. It does look like it's down a little lower. Should we be thinking about share count continue to go down through the year given the capital return that we're seeing? Akash Palkhiwala: Stacy, no change on the framework that we've given on buybacks before. We're continuing to focus on prioritized anti-dilutive buybacks and opportunistically look for -- on top of that, if we can do additional buybacks. And so what you're seeing in the quarter is a portion of that showing up, but fundamentally, our framework doesn't change. Operator: Thank you. Our next question is coming from the line of Tal Liani with Bank of America. Please proceed with your question. Tal Liani: Hi. I have two questions. The first one is other suppliers of Apple noted that orders for March in -- were strong, but then at least one of them said that the guidance for June is very weak because there's going to be a reversion to the mean. And the question I have is, is there any concentration of QCT handsets this that gives you some concerns over any big customer that might be reducing orders that there is any abnormal behavior this quarter might be reducing orders later on? That's my first question. Akash Palkhiwala: Sure”