“Our planning assumption has been that the share will ramp down to 20% for the '26 launch, and the agreement ends after that.”

In context

“his early stages of demand come through for our solutions. And this is one of the topics that we'll discuss in detail at our Investor Day. So stay tuned on that one. Christopher Muse: Very helpful. And as a follow-up, in your 10-K, you talked about a large customer potentially going internal as a next several quarter risk. And obviously, this has been discussed for many years. But if it were to happen, how should we think about the moving parts to your overall QCT margins? Akash Palkhiwala: I think no real change, no new information here. I think you -- there's enough data out there for you to be able to size the risk that we've always outlined. As we've said, we have a 3-year agreement, '24, '25 and '26 phone launches, and the framework of that agreement is consistent with the prior one. Our planning assumption has been that the share will ramp down to 20% for the '26 launch, and the agreement ends after that. So no change really to anything we've said in the past, and I think that's how our planning assumption is. Anything better would be upside. Operator: That concludes our question-and-answer session. Mr. Amon, do you have anything further to add before adjourning the call? Cristiano Amon: Yes, just a few statements. Thank you. Thanks, everyone, for joining us on the call today. When we look at Qualcomm, I think we feel pretty good at our position. There are very few companies positioned in so many markets, and the transformations of many industries. We -- there's a lot of distraction out there, but we're not distracted. We're really focused on executing on our growth and diversification. And we're really looking forward, I think, to tell our story on November 19. I'd like to take a moment t”