“First is QTL, and we expect to see that growth as the market grows as well. And then second is handset launched by a modem-only customer. Off of the base we have in September, we expect to see that growth as well.”

In context

“ket, but that inventory burn was still going to be part of the dynamic. So if you could talk through that in a little bit more detail, what kind of magnitude are you expecting for the industry in the fourth quarter? What's built into your estimates? And is the inventory burn just an Android dynamic? Or do you think that the prepurchases from Cupertino are still an effect in the December quarter? Akash Palkhiwala : Sure, Matt. So there was a lot in there. I'll try to unpack it. Let me divide it into parts. So first, starting with the market. Our forecast does assume sequential growth into the December quarter as we go into the holiday season. From a financial perspective, consistent with historical years, we typically have 2 significant drivers of growth going into December from September. First is QTL, and we expect to see that growth as the market grows as well. And then second is handset launched by a modem-only customer. Off of the base we have in September, we expect to see that growth as well. So those would be the 2 significant growth drivers into the quarter. From an IoT and automotive perspective, if you look at the last couple of years, we've seen a trend of a slight decline in both areas quarter-over-quarter from September to December. So we just think the same seasonality will play out, not something that goes beyond that. It's just a normal timing that we've seen in the market in the past. Maybe the last comment I'll say is our forecast for September and December quarter does assume no material revenues from Huawei. As you are aware, we have a 4G license for shipping into Huawei. We do not have a 5G license, and we are not assuming any material revenue going forward. So hopefully, that covers all the different parts. Operator: The next question is from Samik Chatterjee w”