“On the last part of your question, on an absolute basis, I would expect to increase investments over the next several years as we continue to see strong market opportunities.”

In context

“w-on? Toshiya Hari: I do. Thanks, Dave. So on OpEx, I think, over the past four months, your OpEx budget is barely up, I think, it’s up 1% -- 1% plus in what’s been a very inflationary environment. Just curious what the offsets have been over the past four months and how should we think about sustainability in your model, OpEx being up kind of low singles, while revenue growing strong double digits? Thank you. Rafael Lizardi: Yeah. No. Happy to address that. We are pleased with how we’re allocating our investments to R&D and SG&A to the best opportunities and that is primarily industrial and automotive. As we have talked about also initiatives, such as Ti.com that ultimately strengthen our competitive advantages and maximize our ability to grow free cash flow per share over the long-term. On the last part of your question, on an absolute basis, I would expect to increase investments over the next several years as we continue to see strong market opportunities. Dave Pahl: Thank you. Toshiya Hari: Thank you. Appreciate it. Dave Pahl: We will go to next caller, please. Operator: We will take our next question from Harlan Sur with JPMorgan. Please go ahead. Harlan Sur: Good afternoon, guys. Thank you for taking my question. On unfinished goods inventory, which is where your direct customer consignment inventory is resides. They are still 30% below pre-pandemic levels. They’re down 3% versus last year. They are down slightly sequentially. Is it fair to assume that this is a reflection that your direct customers continue to pull at a very strong rate just given their demand profiles and can you guys get to your target inventory days exiting this year especially with RFAB2 ramping? Rafael Lizardi: Yeah. What I would tell you, the given our manufacturi”