“So whenever things do weakened, we’ll take that time to replenish inventories that will keep lead times stable and low.”

In context

“that? Dave Pahl: Yeah. I think many have reported and we can see in the filings that our customers have had, that there’s clear signs of inventory being built over the last several quarters. And there is discussions on how much inventory do they hold more permanently and those types of things. We’ll see how that behavior changes over time. I think there’s some places where that probably will stick and probably some places where it won’t. But I think the most important thing when we look at it, because we won’t manage our customer’s inventory, but we can manage what we do. And we’ve long believed that owning and controlling our inventory is really a strategic advantage. So you’ve seen us take those actions over time. We finished the quarter with just a little over $2 billion of inventory. So whenever things do weakened, we’ll take that time to replenish inventories that will keep lead times stable and low. And those are the best things that we can control and what we’ll do as we move through the next few quarters. So thank you, Joe. We’ll go to next caller, please. Operator: We’ll take our next question from Chris Danley with Citi. Please go ahead. Chris Danley: Hey. Thanks, guys. So, with the weakness in PE, but also the strength in auto and industrial, are you or can you take some of that capacity from the weaker parts and allocate it towards the stronger parts and if so, how long does that take? Rafael Lizardi: We -- of course, we do that constantly. At the highest level? Yes. We, the capacity is relatively fungible. There’s always some nooks and crannies that are a little different for each technology or each particular part. So but at the highest level, yes. We are -- we have been adju”