“for next year, we've said $2.3 billion to $2.7 billion but to be on the lower end of that range.”

In context

“of questions, Haviv. Congratulations on the Chairman role as well. I wanted to go back to the gross margin side. Rafael, you talked about all the reasons it was going to drop and the rough range from the prior question. Just wondered how does that flow through into next year? From the perspective of depreciation? Is there any change to the range you gave before? And if you're flat to slightly down in the first quarter, does that flow through? And the utilization dynamic, does that have to flow through inventory, etcetera, in lead to a headwind as we go into the first half of next year as well? Yes. So a couple of things. First, on depreciation, no change. Rafael R. Lizardi: To our guidance, 1.822 for this year. So you come back into fourth quarter. As I answered to Stacy a second ago. And for next year, we've said $2.3 billion to $2.7 billion but to be on the lower end of that range. So that should give you enough to model that. Beyond that, we'll go we'll forecast one quarter at a time. It's going to depend on revenue and demand. So this by by lowering the loadings now puts us in a good position to have the level of inventory that we think is required. And I think that's to put us in a good position going into 2026. Haviv Ilan: Ross, the only color I'll add and then Rafael touched upon it, we do think that the way we run the place on free cash flow per share We have made an excellent progress on ramp and qualifying our Sherman new site We are winding down to six inch fabs. Our investments in Utah, in Lehi 2 are continuing as planned. So our eyes on free cash flow per share growth and start with free cash flow, right? So when you get to the right level of inventory, w”