“With our continued focus on diversification, we are forecasting RF front-end, IoT and automotive combined revenues of greater than $12 billion in fiscal ‘22.”

In context

“xpenses to be up 6% to 8% sequentially, with approximately half of the growth due to the inclusion of 2 quarters of expenses for the Arriver acquisition. As a reminder, our third quarter results did not include Arriver since we are reporting one quarter in arrears until the fourth fiscal quarter. Based on the midpoint of our fourth quarter guidance, we’re expecting fiscal ‘22 to be an exceptional year. We expect non-GAAP EPS of $12.55, a growth of $4 for fiscal ‘21. We are forecasting QCT revenues of greater than $37 billion, a year-over-year growth of greater than $10 billion and EBT margin expansion of approximately 5 points. QCT handset revenues are on track to grow slightly below 50% relative to fiscal ‘21, driven by increased processor content and expansion of our addressable market. With our continued focus on diversification, we are forecasting RF front-end, IoT and automotive combined revenues of greater than $12 billion in fiscal ‘22. Lastly, we are pleased to announce we signed a long-term extension of our license agreement with Samsung through 2030 at the same royalty terms. With this agreement, the QTL forecast that we provided at Investor Day remains unchanged. In closing, while we are mindful of the current environment, our long-term fundamentals are intact. We remain focused on driving growth by executing on our vision to bring cloud connectivity, data processing and artificial intelligence to the edge. Thank you, and back to you, Mauricio. Mauricio Lopez-Hodoyan: Thank you, Akash. Operator, we are now ready for questions. Operator: Thank you. [Operator Instructions] Our first question comes from Matt Ramsay with Cowen. Matt Ramsay: Yes. Thank you very much. Good afternoon, everybody. Cristiano, maybe you could g”