“But over time, over many years, it should -- 20% to 25% is probably the right way to look at it.”

In context

“, eventually, they've rounded. That number has rounded to that. OpEx, most of OpEx is an investment. That's how we think about it. Obviously, R&D continues to strengthen our -- the broadest portfolio in the industry that we have, both analog and embedded. But even inside of SG&A, there are several key pieces there that are key investments. Ti.com is one that comes to mind, and we'll talk more about Ti.com specifically at the capital management call next week. So OpEx fuels our future growth. We don't really think about it from a percent of revenue standpoint. But to help you with that, we have guided that over the long term should trend between 20% and 25%. Of course, we're -- right now, we're at about 18% or so. So that 3.2, I wouldn't expect it to change significantly in the short term. But over time, over many years, it should -- 20% to 25% is probably the right way to look at it. Dave Pahl: Okay. Great. Thank you, Toshiya. Toshiya Hari: Thank you. Dave Pahl: We’ll go to the next caller please. Operator: Thank you. We'll hear next from Ross Seymore with Deutsche Bank. Ross Seymore: Hi, guys. Congrats on the strong result and guide. I wanted to ask about the gross margin side of things. I know one quarter doesn't make a trend, but the incremental gross margin was way bigger in the fourth quarter than expected. And it seems like the first quarter has also guided for the gross margin to perhaps rise again sequentially. So whether it's a short term or kind of a longer-term description or answer, what are the big drivers of the upside that you're seeing in the near term? And how much of that do we expect to continue going into 2022 and beyond? Rafael Lizardi: Yes. So a”