“And accordingly, we forecast fiscal '24 server storage revenue to decline around the 20% range year-on-year.”

In context

“ce of over 35% growth. Moving to wireless. Q2 wireless revenue of $1.6 billion grew 2% year-on-year, was seasonally down 19% quarter-on-quarter and represents 22% of semiconductor revenue. And in fiscal '24, helped by content increases, we reiterate our previous guidance for wireless revenue to be essentially flat year-on-year. This trend is wholly consistent with our continued engagement with our North American customer, which is deep, strategic, and multiyear and represents all of our wireless business. Next, our Q2 server storage connectivity revenue was $824 million or 11% of semiconductor revenue, down 27% year-on-year. We believe though, Q2 was the bottom in server storage. And based on updated demand forecast and bookings, we expect a modest recovery in the second half of the year. And accordingly, we forecast fiscal '24 server storage revenue to decline around the 20% range year-on-year. Moving on to broadband. Q2 revenue declined 39% year-on-year to $730 million and represented 10% of semiconductor revenue. Broadband remains weak on the continued pause in telco and service provider spending. We expect Broadcom to bottom in the second half of the year with a recovery in 2025. Accordingly, we are revising our outlook for fiscal '24 broadband revenue to be down high 30s year-on-year from our prior guidance for a decline of just over 30% year-on-year. Finally, Q2 industrial rev -- resale of $234 million declined 10% year-on-year. And for fiscal '24, we now expect industrial resale to be down double-digit percentage year-on-year compared to our prior guidance for high single-digit decline. So to sum it all up, here's what we are seeing. For fiscal '24, we expect revenue from”