科林研發 (LRCX) 2023 Q1 法說會逐字稿

內容摘要

在電話會議中,Archer 和 Bettinger 討論了商業環境,並審查了公司 2022 年 9 月季度的財務業績及其對 2022 年 12 月季度的展望。他們還回答了分析師的問題。

一位分析師詢問了公司的遞延收入,Bettinger 回答說,隨著供應鏈問題的緩解以及他們能夠趕上交付和收入確認,他們預計明年遞延收入將下降。他們指出,他們期望看到的遞延收入處於正常水平,並且不會為 0。

分析師隨後詢問中國出口管制對公司收入的影響,貝廷格回應稱,出口管制明年將產生20-25億美元的負面影響。分析師隨後詢問其中有多少影響來自系統,有多少來自服務,Bettinger 表示他們沒有公佈這些信息,但公司正在努力滿足客戶需求。 Lam Research 是為全球半導體行業提供晶圓製造設備和服務的領先供應商。該公司預計 12 月季度的內存收入將略有下降,而代工和邏輯及其他收入預計將上升。對於 2023 日曆年,該公司專注於內存、代工、邏輯和其他投資。

文中討論了客戶如何降低存儲位的庫存水平,這將導致未來幾個季度的出貨量下降。作者還提供了 2023 日曆年的初步估計,其中晶圓級設備 (WFE) 下降超過 20%。然而,作者指出,有一些結構性因素將繼續支持 WFE 的長期增長,例如終端設備中半導體含量的擴大、設備複雜性的上升以及更大的裸片尺寸。

他們仍認為今年晶圓製造設備的支出在 900 億美元左右。該公司正在通過投資維持技術開發和進行戰略投資,為不同的經濟周期做準備。該公司正在通過在馬來西亞增設製造工廠、在韓國設立研發實驗室以及在班加羅爾開設 Lam 的印度工程中心來擴大其全球業務。印度中心專門設計和測試 Lam 產品線中使用的硬件和軟件。 Lam 在印度的擴張是該公司貼近客戶和生態系統合作夥伴以及接觸世界級人才戰略的一部分。

完整原文

使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主

  • Operator

    Operator

  • Good day, and welcome to the Lam Research September 2022 Quarter Earnings Conference Call. At this time, I would like to turn the conference over to Ms. Tina Correia. Please go ahead, ma'am.

    美好的一天,歡迎參加 Lam Research 2022 年 9 月季度收益電話會議。在這個時候,我想把會議交給 Tina Correia 女士。請繼續,女士。

  • Tina Correia - Corporate VP of IR & Corporate Finance

    Tina Correia - Corporate VP of IR & Corporate Finance

  • Thank you, operator, and good afternoon, everyone. Welcome to the Lam Research quarterly earnings conference call. With me today are Tim Archer, President and Chief Executive Officer; and Doug Bettinger, Executive Vice President and Chief Financial Officer. During today's call, we will share our overview on the business environment, and we'll review our financial results for the September 2022 quarter and our outlook for the December 2022 quarter.

    謝謝接線員,大家下午好。歡迎參加 Lam Research 季度收益電話會議。今天和我在一起的是總裁兼首席執行官 Tim Archer;以及執行副總裁兼首席財務官 Doug Bettinger。在今天的電話會議中,我們將分享我們對商業環境的概述,我們將回顧我們 2022 年 9 月季度的財務業績和 2022 年 12 月季度的展望。

  • A press release detailing our financial results was distributed a little after 1:00 p.m. Pacific Time this afternoon. The release can also be found on the Investor Relations section of the company's website, along with the presentation slides that accompany today's call.

    下午 1:00 後發布了一份詳細說明我們財務業績的新聞稿。太平洋時間今天下午。該新聞稿還可以在公司網站的投資者關係部分以及今天電話會議隨附的演示幻燈片中找到。

  • Today's presentation and Q&A include forward-looking statements that are subject to risks and uncertainties reflected in the risk factors disclosed in our SEC public filings. Please see accompanying slides in the presentation for additional information.

    今天的演講和問答包括前瞻性陳述,這些陳述受到我們在美國證券交易委員會公開文件中披露的風險因素中反映的風險和不確定性的影響。請參閱演示文稿中的隨附幻燈片以獲取更多信息。

  • Today's discussion of our financial results will be presented on a non-GAAP financial basis, unless otherwise specified. A detailed reconciliation between GAAP and non-GAAP results can be found in the accompanying slides in the presentation. This call is scheduled to last until 3:00 p.m. Pacific Time. A replay of this call will be made available later this afternoon on our website. And with that, I'll hand the call over to Tim.

    除非另有說明,今天對我們財務業績的討論將在非公認會計原則財務基礎上進行。可以在演示文稿的隨附幻燈片中找到 GAAP 和非 GAAP 結果之間的詳細核對。本次電話會議計劃持續到下午 3:00。太平洋時間。本次電話會議的重播將於今天下午晚些時候在我們的網站上提供。有了這個,我會把電話交給蒂姆。

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Thank you, Tina, and thank you to everyone joining the call today. Our September quarter results reflect continued strong execution by Lam, with revenues topping $5 billion for the first time in the company's history. Gross margins came in at the higher end of guidance and operating margin and earnings per share both exceeded the guidance range.

    謝謝你,蒂娜,也感謝今天加入電話會議的每一個人。我們 9 月份的季度業績反映了 Lam 的持續強勁執行力,收入在公司歷史上首次突破 50 億美元。毛利率處於指導的高端,營業利潤率和每股收益均超過指導範圍。

  • As you can see from our press release today, we also expect solid performance in the December quarter despite the challenging environment. Recently, the United States government announced new export regulations for U.S. semiconductor technology sold in China, including wafer fabrication equipment and related parts and services.

    正如您從我們今天的新聞稿中看到的那樣,儘管環境充滿挑戰,我們也預計 12 月季度的表現穩健。近日,美國政府公佈了針對在中國銷售的美國半導體技術的新出口法規,包括晶圓製造設備及相關零部件和服務。

  • We have taken the necessary steps to ensure full compliance with the rules and have ceased shipments and support as required. Our financial guidance issued today for the December quarter includes the impact of these changes. For calendar year 2023, we estimate the total revenue impact from these restrictions to be in the range of $2 billion to $2.5 billion.

    我們已採取必要措施確保完全遵守規則,並根據需要停止發貨和支持。我們今天發布的 12 月季度財務指南包括了這些變化的影響。對於 2023 日曆年,我們估計這些限制對總收入的影響在 20 億美元到 25 億美元之間。

  • Turning to the broader demand picture. We see wafer fabrication equipment spending in calendar year 2022 in the low $90 billion range. This outlook includes the impact of new China-related restrictions and lower demand partially offset by improving supply chain conditions. As some of our customers have indicated recently, there has been a rapid deterioration in demand fundamentals, particularly within the Memory segments.

    轉向更廣泛的需求圖景。我們預計 2022 日曆年的晶圓製造設備支出在 900 億美元左右。這一前景包括與中國相關的新限制和需求下降的影響,部分被供應鏈狀況的改善所抵消。正如我們的一些客戶最近表示的那樣,需求基本面迅速惡化,尤其是在內存領域。

  • Customers are adjusting investment plans into next year to bring channel inventories down to more normalized levels. As a result, we see memory bit shipments tracking below end demand for the next few quarters. In our normal cadence, we would provide our first view of 2023 WFE on our January earnings call.

    客戶正在調整明年的投資計劃,以將渠道庫存降至更正常的水平。因此,我們看到未來幾個季度內存位出貨量將低於終端需求。按照我們的正常節奏,我們將在 1 月份的財報電話會議上提供我們對 2023 WFE 的初步看法。

  • However, given the current environment, today, we are providing our preliminary estimate for calendar year 2023. Inclusive of the China restrictions, we expect next year's WFE to be down more than 20% with Memory investments accounting for a large portion of that decline. We will provide more detailed color on our outlook in our next earnings call. But for now, we believe that customer actions to reduce memory bit supply growth will create a favorable setup for memory mix to increase as a percent of overall WFE beyond 2023.

    然而,鑑於目前的環境,今天,我們提供了對 2023 日曆年的初步估計。包括中國限制在內,我們預計明年的 WFE 將下降 20% 以上,其中內存投資佔下降的很大一部分。我們將在下一次財報電話會議上提供更詳細的展望。但就目前而言,我們認為客戶減少內存位供應增長的行動將為內存組合創造有利的設置,以便在 2023 年之後增加佔整體 WFE 的百分比。

  • As these cyclical adjustments play out, the structural factors supporting a long-term WFE growth remain unchanged. These include expanding semiconductor content in end devices, rising device complexity and larger die sizes. These factors create tremendous opportunity for Lam as they require greater etch and deposition intensity to enable higher performance and more scalable device architectures, including the transition to 3D structures.

    隨著這些週期性調整的發揮,支持 WFE 長期增長的結構性因素保持不變。其中包括擴大終端設備中的半導體含量、提高設備複雜性和更大的芯片尺寸。這些因素為 Lam 創造了巨大的機會,因為它們需要更大的蝕刻和沈積強度來實現更高的性能和更可擴展的設備架構,包括向 3D 結構的過渡。

  • To ensure we are best positioned to win long term, we are focused on 3 key strategies: first, continue to demonstrate our commitment to customer success by ensuring that the rapidly growing installed base of Lam tools at our customers is operating at maximum efficiency; second, be a trusted R&D partner for our customers by sustaining our investment in the technology development that is most critical to their long-term device scaling road maps; and third, accelerate innovation and deepen our customer and supply chain partnerships by fully leveraging Lam's recently expanded global R&D and manufacturing infrastructure.

    為確保我們能夠長期贏得最佳定位,我們專注於 3 個關鍵戰略:首先,通過確保客戶快速增長的 Lam 工具安裝基礎以最高效率運行,繼續展示我們對客戶成功的承諾;其次,通過維持我們對技術開發的投資,成為客戶值得信賴的研發合作夥伴,這對他們的長期設備擴展路線圖至關重要;第三,通過充分利用 Lam 最近擴大的全球研發和製造基礎設施,加速創新並深化我們的客戶和供應鏈合作夥伴關係。

  • Our installed base is now approaching 80,000 chambers in the field. This is over 30% higher than in the 2019 memory-related pullback in WFE. Lam's growing installed base continues to drive strong performance in our CSBG business, which hit another record in the September quarter with approximately $1.9 billion in revenue.

    我們的安裝基地現在接近 80,000 個該領域的房間。這比 2019 年與內存相關的 WFE 回調高出 30% 以上。 Lam 不斷增長的安裝基礎繼續推動我們 CSBG 業務的強勁表現,該業務在 9 月季度創下新紀錄,收入約為 19 億美元。

  • While we won't hit new records every quarter, our installed base has become ever more important to our business model, particularly in WFE spending downturns. During such times, customers can continue to advance their technology while optimizing capital efficiency through upgrades to their existing tools.

    雖然我們不會每季度都創下新紀錄,但我們的安裝基礎對我們的業務模式變得越來越重要,尤其是在 WFE 支出低迷的情況下。在此期間,客戶可以繼續推進他們的技術,同時通過升級現有工具來優化資本效率。

  • We are also engaging with customers to find other efficiencies, including yield enhancement. An example of the opportunity this creates can be seen in our Coronus product line. Lam's Coronus double etch process is employed by customers to help prevent process-related defects, which can impair cost per bit scaling. As a result, we have seen a steady increase in the number of bevel edge passes used at each successive NAND technology node.

    我們還與客戶合作以尋找其他效率,包括提高產量。在我們的 Coronus 產品線中可以看到這創造的機會的一個例子。客戶採用 Lam 的 Coronus 雙蝕刻工藝來幫助防止與工藝相關的缺陷,這些缺陷會降低每比特縮放成本。因此,我們看到在每個連續的 NAND 技術節點上使用的斜邊通道數量穩步增加。

  • Another opportunity to help drive efficiency can be found in the enormous volume of equipment and process data being generated from our large and growing installed base. Together with customers, we are using key learnings to deliver services and upgrades that positively impact our customers' operations. For example, we recently deployed Equipment Intelligence Services to support new equipment installation at a large memory manufacturer.

    另一個幫助提高效率的機會可以在我們龐大且不斷增長的安裝基礎產生的大量設備和過程數據中找到。我們與客戶一起,利用重要的經驗來提供對客戶運營產生積極影響的服務和升級。例如,我們最近部署了設備智能服務來支持大型內存製造商的新設備安裝。

  • Using these capabilities, we were able to shorten the time to release tools to production by more than 20%. While the near-term demand dynamics warrant an increased focus on operational efficiencies, the strong pull for technology advancement from our customers and the growth opportunity it creates for Lam continues.

    使用這些功能,我們能夠將工具發佈到生產環境的時間縮短 20% 以上。雖然近期的需求動態需要更加關注運營效率,但我們客戶對技術進步的強大拉動以及它為 Lam 創造的增長機會仍在繼續。

  • We made solid progress in the September quarter with key technology wins across multiple customers. For example, our ability to deposit critical films to lower device capacitance and improved lithography overlay performance led to wins for these layers at a leading DRAM customer.

    我們在 9 月季度取得了堅實的進展,在多個客戶中贏得了關鍵技術。例如,我們沉積關鍵薄膜以降低器件電容和改進光刻覆蓋性能的能力導致這些層在領先的 DRAM 客戶中獲勝。

  • For both applications, we leverage learning from our 3D NAND leadership position as well as ecosystem partnerships to bring innovative and cost-effective solutions to our DRAM customers. In foundry logic, we secured multiple new ALD application wins at a key customer by delivering purpose modifications and film characteristics required for building and integrating gate-all-around structures.

    對於這兩種應用,我們利用從我們的 3D NAND 領導地位以及生態系統合作夥伴中學到的知識,為我們的 DRAM 客戶帶來創新且具有成本效益的解決方案。在代工邏輯方面,我們通過提供構建和集成環柵結構所需的目的修改和薄膜特性,在一個關鍵客戶中贏得了多個新的 ALD 應用程序。

  • Whether it's our focus on operational efficiency or our collaboration on advanced technology, we believe our long-term success will be rooted in an R&D and manufacturing infrastructure close to our customers, close to our ecosystem partners and with access to world-class talent. Consequently, over the past 2 years, we have made strategic investments to expand our global footprint, including the addition of a manufacturing facility in Malaysia, an R&D lab in Korea and just last month, the opening of Lam's India Center for Engineering in Bengaluru.

    無論是我們對運營效率的關注還是我們在先進技術方面的合作,我們相信我們的長期成功將植根於靠近我們的客戶、靠近我們的生態系統合作夥伴以及獲得世界級人才的研發和製造基礎設施。因此,在過去的 2 年中,我們進行了戰略投資以擴大我們的全球足跡,包括在馬來西亞增設製造工廠、在韓國設立研發實驗室,以及就在上個月在班加羅爾開設 Lam 的印度工程中心。

  • This center is a valuable addition to our global Lam network, specializing in the design and testing of hardware and software used across our product lines. So overall, I am pleased with how we are continuing to strengthen our foundation in technology, manufacturing and service. This foundation puts us in a very good position to both navigate the current cyclical dynamics and emerge stronger as we look to capture the exciting opportunities we see over time in the semiconductor industry.

    該中心是我們全球 Lam 網絡的重要補充,專門設計和測試我們產品線中使用的硬件和軟件。總的來說,我對我們如何繼續加強我們在技術、製造和服務方面的基礎感到滿意。這一基礎使我們處於一個非常有利的位置,既可以駕馭當前的周期性動態,又可以變得更強大,因為我們希望抓住隨著時間的推移在半導體行業看到的激動人心的機遇。

  • Thank you again for joining today. And I'll now turn the call over to Doug.

    再次感謝您今天的加入。我現在將把電話轉給 Doug。

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Excellent. Thanks, Tim. Good afternoon, everyone, and thank you for joining our call today. Lam delivered solid results in the September quarter with record levels of performance across multiple metrics, including revenue, operating income and earnings per share.

    出色的。謝謝,蒂姆。大家下午好,感謝您今天加入我們的電話會議。 Lam 在 9 月季度取得了穩健的業績,在包括收入、營業收入和每股收益在內的多個指標上都創下了創紀錄的業績水平。

  • The September financials reflect our focus on operational excellence and our ability to deliver and meet the needs of our customers in a dynamic industry environment. Revenue in the September quarter crossed the $5 billion mark for the first time in our history, coming in at approximately $5.1 billion.

    9 月份的財務狀況反映了我們對卓越運營的關注以及我們在動態行業環境中交付和滿足客戶需求的能力。 9 月季度的收入在我們的歷史上首次突破 50 億美元大關,約為 51 億美元。

  • We continue to ramp output levels, delivering nearly 10% revenue growth over the prior quarter. Supply chain issues have begun to ease somewhat. They have not gone away completely, however. We continue to deal with certain inflationary pressures as well as output constraints.

    我們繼續提高產量水平,收入比上一季度增長近 10%。供應鏈問題已經開始有所緩解。然而,它們並沒有完全消失。我們繼續應對某些通脹壓力和產出限制。

  • Deferred revenue was $2.8 billion and grew in the September quarter by approximately $550 million. This growth was primarily due to customer cash and advanced deposits followed by the timing of shipments on outstanding orders. With macro conditions weakening and wafer fab equipment spending declining, I expect deferred revenue and backlog levels will come down as we exit the December quarter.

    遞延收入為 28 億美元,在 9 月季度增長了約 5.5 億美元。這一增長主要是由於客戶現金和預付存款以及未完成訂單的發貨時間。隨著宏觀條件的減弱和晶圓廠設備支出的下降,我預計隨著我們退出 12 月季度,遞延收入和積壓水平將會下降。

  • I'll provide more information regarding our December guidance and focus for calendar year 2023 later in my scripted remarks. Let me now turn to the segment details for the September quarter. Memory represented 52% of systems revenue, which was slightly down from the prior quarter level of 54%.

    稍後我將在我的腳本評論中提供有關我們 12 月指南和 2023 日曆年重點的更多信息。現在讓我談談 9 月季度的細分市場詳情。內存佔系統收入的 52%,略低於上一季度的 54%。

  • Included in Memory, the NAND segment represented 39% of systems revenue compared to 40% in the prior quarter. We see capacity adds and conversions occurring by NAND customers mainly for 192-layer class devices. The DRAM segment concentration was consistent with the prior quarter coming in at 13% of system revenues compared to 14% in the June quarter.

    包括在內存中,NAND 部分佔系統收入的 39%,而上一季度為 40%。我們看到 NAND 客戶主要針對 192 層級設備進行容量增加和轉換。 DRAM 部門的集中度與上一季度一致,佔系統收入的 13%,而 6 月季度為 14%。

  • The DRAM investments were primarily for 1Z and 1-alpha node conversions. Foundry reinvestments were respectable in the September quarter, comprising 34% of our system revenues, reaching a record level from a dollar standpoint. The increase in the quarter from the June quarter concentration of 26% as a result of the continued strength in investments for both the leading and mature node devices across a myriad of customers.

    DRAM 投資主要用於 1Z 和 1-alpha 節點轉換。代工再投資在 9 月季度是可觀的,占我們系統收入的 34%,從美元的角度來看達到了創紀錄的水平。由於對眾多客戶的領先和成熟節點設備的投資持續強勁,該季度的集中度較 6 月季度增加了 26%。

  • These investments are supporting areas such as AI, IoT, cloud, automotive and 5G. The Logic and Other segment contributed 14% of systems revenue in the September quarter compared with 20% in the prior quarter. I'll remind you that we had record results in this segment in the June quarter, and we continue to have positive momentum in the Logic segment. Our customer base here is investing in microprocessors, image sensors as well as advanced packaging solutions.

    這些投資正在支持人工智能、物聯網、雲、汽車和 5G 等領域。邏輯和其他部門在 9 月季度貢獻了 14% 的系統收入,而上一季度為 20%。我會提醒您,我們在 6 月季度在該細分市場取得了創紀錄的業績,並且我們在邏輯細分市場繼續保持積極勢頭。我們的客戶群正在對微處理器、圖像傳感器以及先進的封裝解決方案進行投資。

  • I'll now turn to the regional composition of our total revenue. The China region came in at 30% of the total, relatively flat with the prior quarter level of 31%. The China September revenue was more concentrated towards the domestic Chinese customer base. And as Tim discussed, we now have additional restrictions for certain domestic Chinese customers and expect the revenue in this region will be significantly lower as we go into next year.

    我現在將轉向我們總收入的區域構成。中國地區佔總數的 30%,與上一季度 31% 的水平相對持平。中國 9 月份的收入更集中於中國國內客戶群。正如蒂姆所討論的那樣,我們現在對某些中國國內客戶有額外的限制,預計隨著我們進入明年,該地區的收入將大大降低。

  • The Taiwan region increased to a concentration of 22% in September versus 19% in the June quarter. Korea decreased to 17% of our total revenue from 24% in prior quarter. I expect these 2 regions to continue to be strong for us based on the plans of our customers in those regions. The customer support business group results were strong in the September quarter. Revenue here reached a record of nearly $1.9 billion, which was up 16% from the June quarter and 37% higher than the September quarter in calendar 2021.

    台灣地區 9 月的集中度從 6 月季度的 19% 增加到 22%。韓國占我們總收入的比重從上一季度的 24% 降至 17%。根據我們在這些地區的客戶的計劃,我預計這兩個地區對我們來說將繼續強大。客戶支持業務組的業績在 9 月季度表現強勁。這裡的收入達到創紀錄的近 19 億美元,比 2021 年的 6 月季度增長 16%,比 2021 年的 9 月季度增長 37%。

  • All parts of the CSBG business delivered good performance in the quarter. Notably, the Reliant and spares product line revenues were at record levels. Reliant was the biggest contributor to the sequential growth in September. As we've noted in the past, CSBG revenues will fluctuate on a quarterly basis. While the macro setup creates the likelihood of a decline in trailing edge demand, the strength of our installed base and value-added services provide a platform to offset potentially softer specialty WFE spending. We do believe, nonetheless, that the specialty segment will weather next year relatively better than WFE in total.

    CSBG 業務各部分在本季度均表現良好。值得注意的是,Reliant 和備件產品線的收入創歷史新高。 Reliant 是 9 月份環比增長的最大貢獻者。正如我們過去所指出的,CSBG 的收入將按季度波動。雖然宏觀設置導致後緣需求下降的可能性,但我們的安裝基礎和增值服務的實力提供了一個平台來抵消可能疲軟的專業 WFE 支出。儘管如此,我們確實相信,專業領域明年的總體情況將好於 WFE。

  • Moving to gross margin. The September quarter came in at 46% at the high end of our guided range and an increase from June's gross margin of 45.2%. We benefited from higher output levels as well as favorable customer and product mix. We do continue to have cost pressures in freight and logistics as well as in certain raw material areas like semiconductors.

    轉向毛利率。 9 月季度的毛利率為 46%,處於我們指導範圍的高端,高於 6 月 45.2% 的毛利率。我們受益於更高的產出水平以及有利的客戶和產品組合。我們確實在貨運和物流以及半導體等某些原材料領域繼續面臨成本壓力。

  • I see headwinds coming in our December quarter related to customer mix, which I'll talk to when I address our guidance. Operating expenses for the September quarter were $647 million, up from the prior quarter amount of $635 million. The increase in spending was in R&D, which comprised nearly 68% of our spending, which was a high water concentration level for the company.

    我看到與客戶組合相關的 12 月季度出現逆風,我將在談到我們的指導時談到這一點。 9 月季度的運營費用為 6.47 億美元,高於上一季度的 6.35 億美元。研發支出的增加,占我們支出的近 68%,這對公司來說是一個高水濃度水平。

  • We're focused on supporting our customers' manufacturing plans for both the short and long term and investing with those objectives in mind. We're committed to managing spending next year as we see a decline in calendar year 2023 wafer fab equipment spending, which will obviously negatively impact our revenue levels.

    我們專注於支持客戶的短期和長期製造計劃,並牢記這些目標進行投資。我們致力於管理明年的支出,因為我們看到 2023 日曆年晶圓廠設備支出下降,這顯然會對我們的收入水平產生負面影響。

  • The September operating margin was 33.3% and was over the guidance range due to the higher levels of revenue and improved gross margin. Our non-GAAP tax rate for the quarter was 13.8%, slightly higher than expected due to the geographic mix of income, coupled with the impact of the required U.S. R&D capitalization rules. Our estimate for the December 2022 quarter and for 2023 is for the tax rate to be in the low to mid-teens level.

    9 月的營業利潤率為 33.3%,由於收入水平提高和毛利率提高,超過了指導範圍。我們本季度的非 GAAP 稅率為 13.8%,略高於預期,原因是收入的地域組合以及所需的美國研發資本化規則的影響。我們對 2022 年 12 月季度和 2023 年的估計是,稅率將處於低至青少年水平。

  • Please note, this estimate does not reflect the impact of any potential U.S. and global tax policy changes being considered. The minimum tax provisions of the Inflation Reduction Act are not effective for us until the second half of calendar year 2023, which is our 2024 fiscal year. We do not expect any meaningful impact to our tax rate related to this policy change, however.

    請注意,此估計並未反映正在考慮的任何潛在的美國和全球稅收政策變化的影響。通貨膨脹減少法案的最低稅收規定直到 2023 日曆年下半年才對我們生效,也就是我們的 2024 財年。然而,我們預計這一政策變化不會對我們的稅率產生任何有意義的影響。

  • And also, as a reminder, as we've discussed in the past, you should expect the tax rate to fluctuate from quarter-to-quarter. Other income and expense came in for the quarter at $30 million in expense. This was an expected decrease compared with the $87 million of expense in the June quarter. I'll just remind you that we incurred a loss related to market declines in one of our venture investments last quarter. We have now liquidated that position.

    另外,提醒一下,正如我們過去所討論的,您應該預計稅率會隨季度波動。本季度的其他收入和支出為 3000 萬美元。與 6 月季度的 8700 萬美元費用相比,這是預期的減少。我只想提醒您,我們在上個季度的一項風險投資中蒙受了與市場下滑相關的損失。我們現在已經平倉了那個頭寸。

  • Other expense in the September quarter was a little bit better than we expected, mainly because of higher interest rates on an increasing cash balance and slightly favorable foreign exchange impacts. The OI&E P&L line item is subject to market-related fluctuations that will cause some level of volatility to the items such as foreign exchange as well as impacts from the equity markets.

    9 月季度的其他支出略好於我們的預期,主要是由於現金餘額增加導致利率上升以及外匯影響略微有利。 OI&E P&L 項目受市場相關波動的影響,這將導致外匯等項目出現一定程度的波動以及股票市場的影響。

  • From a capital return perspective, we allocated approximately $105 million to share repurchases during the September quarter. The cash was deployed in open market repurchases. The ASR from the June quarter also continued to execute in the September quarter. We paid $206 million in dividends during the quarter. And just to remind you, we continue to target returning 75% to 100% of our free cash flow as our long-term capital return plan.

    從資本回報的角度來看,我們在 9 月季度分配了大約 1.05 億美元用於股票回購。現金用於公開市場回購。六月季度的 ASR 也在九月季度繼續執行。我們在本季度支付了 2.06 億美元的股息。提醒您一下,我們繼續將 75% 至 100% 的自由現金流作為我們的長期資本回報計劃。

  • September quarter diluted earnings per share came in at $10.42, which was above our guided range because of the strong revenue and improved profitability performance that I spoke about. Diluted share count was 137 million shares, which was lower than the June quarter and was in line with September quarter expectations.

    9 月季度攤薄後每股收益為 10.42 美元,高於我們的指導範圍,因為我談到了強勁的收入和改善的盈利表現。稀釋後的股票數量為 1.37 億股,低於 6 月季度,符合 9 月季度的預期。

  • Let me now pivot to the balance sheet. Cash and short-term investments, including restricted cash, totaled $4.6 billion, which was up from the prior quarter level of $3.9 billion. We generated solid cash from operations in the September quarter of $1.2 billion, which was partially offset by the share repurchases and dividend payments. Inventory turns were consistent with the prior quarter level, coming in at 2.5x.

    現在讓我轉向資產負債表。現金和短期投資(包括受限現金)總計 46 億美元,高於上一季度的 39 億美元。我們在 9 月季度從運營中產生了 12 億美元的可觀現金,部分被股票回購和股息支付所抵消。庫存周轉率與上一季度的水平一致,為 2.5 倍。

  • Days sales outstanding was 82 days, which was a slight decrease from the 85 days in the June quarter. Noncash expenses for the September quarter included approximately $71 million for equity comp, $64 million for depreciation and $12 million for amortization. Capital expenditures for the September quarter were $140 million, a little bit higher than June, which was $126 million.

    未結銷售天數為 82 天,比 6 月季度的 85 天略有下降。 9 月份季度的非現金支出包括大約 7100 萬美元的股權補償、6400 萬美元的折舊和 1200 萬美元的攤銷。 9 月季度的資本支出為 1.4 億美元,略高於 6 月的 1.26 億美元。

  • Capital expenditures are supporting growth in manufacturing facilities in the United States and Malaysia. Additionally, we're investing in research and development infrastructure in California and Oregon as well as our new technology centers in Korea and India. We ended the September quarter with approximately 18,700 regular full-time employees, which is an increase of approximately 1,000 people from the prior quarter.

    資本支出正在支持美國和馬來西亞製造設施的增長。此外,我們還在加利福尼亞州和俄勒岡州投資研發基礎設施,以及我們在韓國和印度的新技術中心。我們在 9 月季度結束時約有 18,700 名正式全職員工,比上一季度增加了約 1,000 人。

  • We had headcount growth primarily in the factory and field organizations and some in R&D to address higher output levels, to manage the supply chain constraints and to support customer deliveries and installations. We've decided to slow down hiring to only critical positions as we assess the business trajectory going into 2023. Overall, we're executing well in the short term while we plan to prudently manage the business for a down WFE year in calendar year 2023. I'll remind you that we know how to manage this business during a down cycle. Our operating model has been constructed and tested for many years in different business environments.

    我們的員工人數增長主要在工廠和現場組織,還有一些在研發部門,以解決更高的產出水平,管理供應鏈限制並支持客戶交付和安裝。在評估進入 2023 年的業務軌跡時,我們決定僅將招聘放緩至關鍵職位。總體而言,我們在短期內執行良好,同時我們計劃在 2023 日曆年謹慎管理業務以應對 WFE 下滑的年份. 我會提醒你,我們知道如何在下行週期管理這項業務。我們的運營模式已經在不同的商業環境中構建和測試多年。

  • With that backdrop, I'll provide our non-GAAP guidance for the December 2022 quarter. We are expecting revenue of $5.1 billion, plus or minus $300 million. This includes our current estimate of the impact of new regulations on our ability to supply products and services to certain customers in China. This revenue guidance would have been decently higher if not for these new regulations.

    在這種背景下,我將提供 2022 年 12 月季度的非公認會計原則指導。我們預計收入為 51 億美元,上下浮動 3 億美元。這包括我們目前對新法規對我們向中國某些客戶提供產品和服務能力的影響的估計。如果沒有這些新規定,這個收入指導會高得多。

  • Gross margin of 44.5%, plus or minus 1 percentage point. This is down from the September quarter, primarily due to customer mix. We have lost more profitable business from the China region. Operating margins of 31.5%, plus or minus 1 percentage point; and finally, earnings per share of $10 even, plus or minus $0.75 based on a share count of approximately 136 million shares.

    毛利率為44.5%,上下浮動1個百分點。這比 9 月季度有所下降,主要是由於客戶組合。我們失去了來自中國地區的更多盈利業務。營業利潤率31.5%,上下浮動1個百分點;最後,根據大約 1.36 億股的股票數量,每股收益甚至為 10 美元,上下浮動 0.75 美元。

  • So let me just wrap it up. Throughout 2022, we've demonstrated the ability to deliver record financial performance and profitable growth. It's been a year of volatile supply chain constraints, inflationary pressures and regulatory changes. We're confident we're prepared for the challenges we see in the industry in calendar 2023, and we built a solid foundation for continued success, evidenced in our technology leadership and robust installed base.

    所以讓我把它包起來。在整個 2022 年,我們展示了實現創紀錄財務業績和盈利增長的能力。這是供應鏈限制、通脹壓力和監管變化動蕩的一年。我們相信,我們已為 2023 年在行業中看到的挑戰做好了準備,我們為持續成功奠定了堅實的基礎,這體現在我們的技術領先地位和強大的安裝基礎上。

  • Operator, that concludes my prepared remarks. Tim and I would now like to open up the call for questions.

    接線員,我準備好的發言到此結束。蒂姆和我現在想打開提問的電話。

  • Operator

    Operator

  • (Operator Instructions) We will take the first question on the queue from Timothy Arcuri.

    (操作員說明)我們將回答 Timothy Arcuri 的第一個問題。

  • Jungsuk Park - Associate Analyst

    Jungsuk Park - Associate Analyst

  • This is Jason on for Tim from UBS. I just have a couple of questions. So my first question is on your December guidance. You just guided the deferred revenue to come down. So I was just curious whether you can quantify for us how much of excess deferred revenue you're realizing and contemplating into your December guide. Then I have a follow-up.

    這是來自瑞銀的傑森為蒂姆。我只有幾個問題。所以我的第一個問題是關於你 12 月的指導。你只是引導遞延收入下降。所以我只是好奇你是否可以為我們量化你在 12 月指南中實現和考慮的超額遞延收入有多少。然後我有一個跟進。

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes, I'm not sure I completely heard you. I think you asked what we think deferred revenue in December is going to do. And all I'm going to tell you is I expect it to go down. I'm not going to quantify it for you.

    是的,我不確定我是否完全聽到了你的聲音。我想你問我們認為 12 月份的遞延收入會做什麼。我要告訴你的是,我預計它會下降。我不會為你量化它。

  • Jungsuk Park - Associate Analyst

    Jungsuk Park - Associate Analyst

  • Got it. So my second question is on the gross margin for the same quarter. Could you please quantify how much of a headwind you're still facing in December for things like elevated freight costs and Malaysia facility? When can we expect the gross margin to normalize eventually?

    知道了。所以我的第二個問題是關於同一季度的毛利率。您能否量化一下您在 12 月仍面臨的諸如運費上漲和馬來西亞設施等方面的逆風?我們什麼時候可以預期毛利率最終會正常化?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes. No, I'm not going to quantify that for you either. It's still a headwind. Otherwise, I wouldn't have put it in the scripted remarks. As we go into next year, and I think supply gets caught up with demand in terms of some of the supply challenges we're having, I expect some of the inflationary headwinds there to mitigate. I expect the same thing in freight and whatnot. So I'm not going to put a number on it, but I do expect that, that will get better as we go into next year.

    是的。不,我也不打算為你量化。這仍然是一個逆風。否則,我不會把它放在腳本註釋中。隨著我們進入明年,我認為就我們面臨的一些供應挑戰而言,供應會趕上需求,我預計那裡的一些通脹逆風將會緩解。我希望在貨運方面也有同樣的情況。所以我不會在上面寫一個數字,但我確實希望,隨著我們進入明年,情況會變得更好。

  • Operator

    Operator

  • We will take the next question from Harlan Sur from JPMorgan.

    我們將回答摩根大通的 Harlan Sur 的下一個問題。

  • Harlan Sur - Senior Analyst

    Harlan Sur - Senior Analyst

  • Given your commentary on the $2 billion, $2.5 billion impact next year from the export controls in China, it looks like near term, you are offsetting some of that with your significant deferred revenue and order backlog with some of your non-China customers. But I guess my question is, could you quantify of the $2 billion, $2.5 billion impact, what percentage is systems and what percentage is services? And then I have a follow-up question.

    鑑於您對明年中國出口管制帶來的 20 億美元、25 億美元影響的評論,看起來在短期內,您正在通過大量遞延收入和一些非中國客戶的訂單積壓來抵消部分影響。但我想我的問題是,你能量化 20 億美元、25 億美元的影響嗎?系統和服務的百分比是多少?然後我有一個後續問題。

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Yes, Harlan. I guess we wanted to give some sizing for that in 2023 since we knew there will be questions that we're not going to break out the difference right now. That's inclusive of both systems and spares and service for those customers in China that are impacted by the restrictions.

    是的,哈蘭。我想我們想在 2023 年給出一些規模,因為我們知道會有一些問題,我們現在不會打破差異。這包括為受限制影響的中國客戶提供的系統、備件和服務。

  • I think that we talked a little bit about improving supply chain conditions. And so where possible, we talked about December, including some impact of, of course, China restrictions, offset partially by supply chain easing, offset as well by some decreases in other customers due to the demand elements that we talked about. So we're not prepared to break each of those items out, but we're doing the best we can to essentially meet customer demand requirements where we can as early as we can.

    我認為我們談了一些關於改善供應鏈條件的問題。因此,在可能的情況下,我們談到了 12 月,當然包括中國限制的一些影響,部分被供應鏈放鬆所抵消,也被我們談到的需求因素導致的其他客戶的一些減少所抵消。因此,我們不准備將這些項目中的每一項都分開,但我們正在盡我們所能,盡可能早地從根本上滿足客戶的需求要求。

  • Harlan Sur - Senior Analyst

    Harlan Sur - Senior Analyst

  • I appreciate that. And then my follow-up, the team only just started recently breaking out services of your CSBG business. Obviously, it's becoming a more ratable base, multiyear service contract focused business, a lot richer in terms of value-added services and solutions.

    我很感激。然後我的跟進,該團隊最近才開始為您的 CSBG 業務提供服務。顯然,它正在成為一個更受好評的基礎,以多年服務合同為重點的業務,在增值服務和解決方案方面更加豐富。

  • I think you guys put in your presentation like chamber shipments are up significantly over the past 3 years. So in thinking about a weaker WFE environment next year, like if you look back over the last 3 or 4 WFE downturns, has Lam services business remained stable or grown through most of those downturns? And would you expect a similar profile in a weaker WFE environment next year?

    我認為你們在演示文稿中表示,過去 3 年的腔室出貨量顯著增加。因此,在考慮明年較弱的 WFE 環境時,例如回顧過去 3 或 4 次 WFE 低迷,Lam 服務業務在大部分低迷時期保持穩定還是增長?您是否期望明年在較弱的 WFE 環境中出現類似的情況?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Well, Harlan, in my comments, I specifically said it's a very important part of our business model, especially during WFE downturns. It's also been a very deliberate strategy of Lam. I think if you've attended the last couple of investor conferences, we've talked about an intention to increase revenue capture per chamber.

    好吧,Harlan,在我的評論中,我特別提到這是我們商業模式中非常重要的一部分,尤其是在 WFE 低迷時期。這也是林的一個非常深思熟慮的策略。我認為,如果您參加了最近的幾次投資者會議,我們已經討論了增加每個會議室收入的意圖。

  • And so I mentioned that just in the time from the last WFE downturn in 2019, so now we've managed to grow the installed base in chamber count by more than 30%. At the same time, we've also increased the breadth of our portfolio of the services that both in terms of the types of equipment intelligence services, the spares, the upgrades that has also meaningfully improved our opportunity for each of those chambers that's in the installed base.

    所以我提到,就在 2019 年上一次 WFE 低迷時期,所以現在我們已經設法將房間數量的安裝基數增長了 30% 以上。同時,我們還增加了服務組合的廣度,包括設備情報服務、備件和升級的類型,這也有意義地增加了我們為每個房間提供的機會。安裝基地。

  • So each element of the spares of CSBG, whether it's spares, upgrade services, Reliant probably moves a little bit different through each of the kind of WFE up cycles or down cycles. But generally, spares, as we've said, holds up pretty well as most customers continue to run all of the tools that they've got installed. Upgrades sometimes can actually do a little bit better as customers have a little bit more time in a downturn to make the improvements that they want to make so that they come out of those downturns stronger with their installed base.

    因此,CSBG 備件的每個元素,無論是備件、升級服務,Reliant 在每種 WFE 上升週期或下降週期中的移動都可能略有不同。但一般來說,正如我們所說,備件非常好用,因為大多數客戶繼續運行他們已安裝的所有工具。升級有時實際上可以做得更好,因為客戶在經濟低迷時期有更多的時間來進行他們想要進行的改進,從而使他們的安裝基礎更加強大。

  • And then services, especially with our expanding offerings around equipment intelligence sources, I talked about efficiency, productivity. Those are all things that they're important to customers at all times, but they're really important to customers as they're thinking about squeezing everything they can out of the installed base they have and being able to then maybe delay additional capital purchases or expenditures for just a bit longer. So I would say that we see CSBG as a very important part of stabilizing the company's performance through cycles.

    然後是服務,特別是隨著我們圍繞設備情報來源不斷擴大的產品,我談到了效率和生產力。這些都是他們在任何時候都對客戶很重要的事情,但他們對客戶來說真的很重要,因為他們正在考慮從他們擁有的已安裝基礎中擠出所有可能的東西,然後可能會延遲額外的資本購買或花費更長的時間。所以我想說,我們將 CSBG 視為通過週期穩定公司業績的一個非常重要的部分。

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes, Harlan, the only thing I would point out incrementally, yes, the only incremental thing I'd point out and incremental to what Tim said is I've been talking about how strong Reliant has been the last several quarters. And in fact, last quarter, it was the biggest sequential grower in CSBG. And as we look into 2023, we're not going to parse all the different components of WFE. But I know there's some people out there that think specialty segment of WFE will soften next year, and that would impact the Reliant along with that, offset by the things that Tim talked about.

    是的,哈倫,我唯一要逐步指出的事情,是的,我要指出的唯一一點是,蒂姆所說的唯一一點就是我一直在談論 Reliant 在過去幾個季度中的實力。事實上,上個季度,它是 CSBG 中最大的連續種植者。當我們展望 2023 年時,我們不會解析 WFE 的所有不同組件。但我知道有些人認為 WFE 的專業部分明年會軟化,這會影響 Reliant,但被 Tim 談到的事情所抵消。

  • Operator

    Operator

  • We will take the next question from C.J. Muse from Evercore.

    我們將回答來自 Evercore 的 C.J. Muse 的下一個問題。

  • Christopher James Muse - Senior MD, Head of Global Semiconductor Research & Senior Equity Research Analyst

    Christopher James Muse - Senior MD, Head of Global Semiconductor Research & Senior Equity Research Analyst

  • I guess first question relates to deferred revenues. So when you gave us your early view for 2023 WFE, how are you kind of reflecting deferred revenues for you as well as the rest of the industry in that more than down 20%? And as part of that, should we be thinking about your deferred revenues getting close to 0 exiting calendar '23?

    我想第一個問題與遞延收入有關。因此,當您向我們提供您對 2023 年 WFE 的早期看法時,您如何反映您以及行業其他企業的遞延收入下降超過 20%?作為其中的一部分,我們是否應該考慮您的遞延收入接近 0 退出日曆 '23?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Yes. Let me take a start at that first, and then I'll let Doug add in. Obviously, our -- we've contemplated that. Always, when we're talking about the -- what we think the industry is able to do from a ship perspective and ultimately from a revenue perspective. But -- so that number next year, kind of think about it as a little bit of a like-for-like to this year.

    是的。讓我先開始,然後我會讓 Doug 加入。顯然,我們的 - 我們已經考慮過了。總是,當我們談論 - 我們認為該行業能夠從船舶角度並最終從收入角度做的事情。但是 - 所以明年的這個數字,有點像今年的類似。

  • But I believe that we will see ultimately the year play out in a way that deferred revenues do come down as supply chain continues to ease. And there is a normal level though. I'll let Doug speak to that, what that normal level of preferred is that we'd expect. So it won't come to 0, but we will see a meaningful portion of that deferred revenue that really represents the systems that we've been unable to satisfy this year as that plays out next year as we have ramped our capacity, supply chain capacity is caught up, and therefore, we get caught up on deliveries and revenue recognition.

    但我相信,隨著供應鏈繼續放鬆,我們最終會看到遞延收入確實會下降。雖然有一個正常的水平。我會讓 Doug 說一下,我們所期望的正常偏好水平是什麼。所以它不會歸零,但我們將看到遞延收入的重要部分,它真正代表了我們今年無法滿足的系統,因為明年我們已經提高了我們的產能,供應鏈產能趕上了,因此,我們趕上了交付和收入確認。

  • So Doug, I don't know if you have something further.

    所以道格,我不知道你是否還有更多的事情。

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes. I mean, C.J., you know that deferred revenue is never a 0 number because we always have these cash and advanced payments, volume purchase agreement credits, a whole bunch of different things, spares and service credits that are there.

    是的。我的意思是,C.J.,你知道遞延收入絕不是 0 數字,因為我們總是有這些現金和預付款、批量採購協議信用、一大堆不同的東西、備件和服務信用。

  • if you look pre the supply chain challenges we had, a normalized level of deferred revenue would be somewhere between $500 million and $1 billion. It bounces around. It's lumpy sometimes. But that is kind of the normalized level that I think about, and it's elevated right now because of the backordered stuff and the incomplete tools that we're shipping. It will come down in December, and then it will come down more as we go through 2023 is our outlook right now.

    如果您提前了解我們面臨的供應鏈挑戰,遞延收入的正常化水平將在 5 億美元到 10 億美元之間。它四處彈跳。有時是塊狀的。但這是我認為的標準化水平,由於延期交貨的東西和我們正在運送的不完整工具,它現在被提升了。它將在 12 月下降,然後隨著我們現在的展望 2023 年下降更多。

  • Christopher James Muse - Senior MD, Head of Global Semiconductor Research & Senior Equity Research Analyst

    Christopher James Muse - Senior MD, Head of Global Semiconductor Research & Senior Equity Research Analyst

  • Very helpful. And as my follow-up, you've grown your headcount by 30-plus percent over the last kind of 5 quarters. And I guess curious, as you contemplate the coming kind of correction, how are you thinking about headcount? How are you thinking about OpEx and operating leverage?

    非常有幫助。作為我的後續行動,在過去的 5 個季度中,您的員工人數增加了 30% 以上。我想很好奇,當你考慮即將到來的修正時,你是如何考慮員工人數的?您如何看待 OpEx 和運營槓桿?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Well, I think that -- obviously, as Doug mentioned in his comments, it's not our first downturn. And the reality is we had -- really had no choice but to expand the company as we tried to meet what was really unprecedented demand over the last couple of quarters -- or a couple of years. And that -- no choice in doing that.

    好吧,我認為——顯然,正如道格在他的評論中提到的,這不是我們的第一次低迷。現實情況是我們 - 真的別無選擇,只能擴大公司,因為我們試圖滿足過去幾個季度 - 或幾年內真正前所未有的需求。而那 - 沒有選擇這樣做。

  • And as you see, not only did we add headcount, they also expanded our facilities. Obviously, as you move through cycles, you then look at the resources that are required to meet the business level in the year and going forward and beyond. But I made a couple of comments. One, we think it's incredibly important that we sustain technology development through any cycle.

    如您所見,我們不僅增加了員工人數,他們還擴大了我們的設施。顯然,當您經歷週期時,您會查看滿足當年和未來業務水平所需的資源。但我發表了一些評論。第一,我們認為在任何週期中維持技術開發都非常重要。

  • Our customers expect for us to be continuing to advance the products and the technologies they're going to need on the other side of the demand cycle. Two, I talked about some very strategic investments that we've made to expand our global footprint to put us closer to where some of our key customers are to create capabilities closer to ecosystem partners and our supply chain. And we think those investments are incredibly important to the long-term business model of the company.

    我們的客戶期望我們繼續推進他們在需求週期的另一端需要的產品和技術。第二,我談到了我們為擴大我們的全球足跡而進行的一些非常戰略性的投資,使我們更接近我們的一些關鍵客戶所在的地方,從而創造更接近生態系統合作夥伴和我們的供應鏈的能力。我們認為這些投資對公司的長期商業模式非常重要。

  • And so we'll be sure that in however we're thinking about the resources in the company that we sustain those types of investments as well because it's not only how you act through the downturn, it's how prepared you are for the next upturn and what performance you can deliver in that cycle as well. So those things are all under consideration now, and it's also why we gave you some look ahead to 2023 to give you a sense of how we're thinking about how this business is going to have to be run through the near term.

    因此,我們可以肯定的是,無論我們在考慮公司中維持這些類型投資的資源,因為這不僅是您在低迷時期的行為方式,也是您為下一次好轉做好準備的程度,以及您還可以在該週期中提供什麼性能。因此,這些事情現在都在考慮之中,這也是為什麼我們讓您展望 2023 年,讓您了解我們如何考慮如何在短期內開展這項業務。

  • Operator

    Operator

  • The next question from Stacy Rasgon from Bernstein Research.

    Bernstein Research 的 Stacy Rasgon 提出的下一個問題。

  • Stacy Aaron Rasgon - Senior Analyst

    Stacy Aaron Rasgon - Senior Analyst

  • For my first question, you've -- obviously, you've got backlog and deferred carrying you through December, but you've got calendar '23, you're guiding WFE down, if I do the math, like somewhere in the ballpark of $70 billion. How do I think about the transition from where we're running right now to that environment? Like can you give us any color, even qualitatively just on like for March quarter? Does March quarter sort of -- are you sort of at that run rate of where you expect WFE to be next quarter? Like what does that transition look like?

    對於我的第一個問題,你已經 - 顯然,你有積壓並推遲到 12 月,但是你有日曆 '23,如果我做數學,你正在指導 WFE,就像在某個地方700億美元的球場。我如何看待從我們現在運行的地方到那個環境的過渡?就像你能給我們任何顏色,即使是定性的,就像三月季度一樣? 3 月季度是否有點——您是否處於您預計 WFE 下一季度的運行速度?像這種過渡是什麼樣的?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes, Stacy, I mean we gave you color beyond what we would normally do at this point in the year, and I'm not going to do any more than we've already provided. That's the best we're going to be able to do for you right now.

    是的,斯泰西,我的意思是我們給你的顏色超出了我們在今年這個時候通常會做的事情,而且我不會做比我們已經提供的更多的事情。這是我們現在能為您做的最好的事情。

  • Stacy Aaron Rasgon - Senior Analyst

    Stacy Aaron Rasgon - Senior Analyst

  • All right. I guess I'll take that. For my follow-up, if I look at the WFE guidance for next year, again, down 20% or more from the low 90s, puts at about $70 billion. You said it includes the China sanctions. Would it have been higher without those China sanctions? Are you assuming that some of that China capacity gets redeployed to other players? Like what is that -- what do those puts and takes look like?

    好的。我想我會接受的。對於我的後續行動,如果我查看明年的 WFE 指導,再次從 90 年代的低點下降 20% 或更多,約為 700 億美元。你說它包括對中國的製裁。如果沒有這些中國製裁,它會更高嗎?您是否假設將部分中國產能重新部署給其他參與者?就像那是什麼——那些puts和takes是什麼樣的?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • No, that makes an assumption and the vast majority of that China WFE just comes out of WFE. And I don't -- if your question is, could somebody else spend what those customers were going to spend to put the same equipment or capacity in place. Our view right now, I mean, is that, that probably wouldn't take place in 2023.

    不,這是一個假設,中國 WFE 的絕大多數只是來自 WFE。而且我不 - 如果您的問題是,其他人是否可以花費這些客戶將要花費的費用來安裝相同的設備或容量。我的意思是,我們現在的觀點是,這可能不會在 2023 年發生。

  • Stacy Aaron Rasgon - Senior Analyst

    Stacy Aaron Rasgon - Senior Analyst

  • Yes. I guess what I'm asking is if it wasn't for the sanctions, would you be looking for WFE at like $80 billion or $75 million instead of the $70 million where it seems to be coming out?

    是的。我想我要問的是,如果不是因為製裁,你會以 800 億美元或 7500 萬美元的價格尋找 WFE,而不是看起來像要出現的 7000 萬美元嗎?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes. It would have been a little bit higher, Stacy. Yes, it would have been a little bit higher.

    是的。本來會高一點的,斯泰西。是的,本來會高一點。

  • Operator

    Operator

  • We'll take the next question from Krish Sankar.

    我們將回答 Krish Sankar 的下一個問題。

  • Krish Sankar - MD & Senior Research Analyst

    Krish Sankar - MD & Senior Research Analyst

  • The first one, thanks for the color on CSBG. I'm just kind of curious, you shipped a lot of tools this year. Most of them are under 1-year warranty. So they won't necessarily contribute to CSBG revenues. And WFE is down 20% or higher, and the customer utilization rates come down. Is there a way to think about what utilization rate below which CSBG revenues don't grow?

    第一個,感謝 CSBG 上的顏色。我只是有點好奇,你今年運送了很多工具。它們中的大多數都在 1 年保修期內。所以他們不一定會為 CSBG 的收入做出貢獻。 WFE 下降 20% 或更高,客戶使用率下降。有沒有辦法考慮 CSBG 收入不會增長的利用率?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Well, I think it's a tough question because as I -- that's why I pointed out, there's really 4 components of CSBG and not all of them are completely utilization driven. But just to your comment about the number of tools we've shipped. I mean, over the last 2 years, as we mentioned, or since 2019, up 30%, a significant expansion in chamber count. So therefore, our opportunity has grown.

    嗯,我認為這是一個棘手的問題,因為正如我——這就是我指出的原因,CSBG 確實有 4 個組件,並且並非所有組件都完全由利用率驅動。但僅針對您對我們已交付的工具數量的評論。我的意思是,正如我們提到的,在過去 2 年中,或者自 2019 年以來,增長了 30%,腔室數量顯著增加。因此,我們的機會增加了。

  • There are some components of CSBG and the spare space around consumables that actually start kind of on customer usage. And so that 1-year delay it doesn't quite exist for every part of CSBG spending. But I don't think we've done the calculation of where UT would have to come down -- utilization would have to come down in order for certain elements not to grow. I think we anticipate that, again, customers are going to be motivated to run the tools to a great extent for the tools that they already have installed.

    CSBG 的一些組件和消耗品周圍的備用空間實際上開始於客戶使用。因此,對於 CSBG 支出的每一部分來說,這 1 年的延遲並不完全存在。但我認為我們還沒有計算出 UT 必須下降的位置——利用率必須下降才能使某些元素不增長。我認為我們再次預計,客戶將有動力在很大程度上為他們已經安裝的工具運行這些工具。

  • And again, you'll see probably heightened interest in upgrades versus new capacity additions, which is also beneficial for not only our CSBG business, but Lam's capture rate per dollar of investment spend. So again, just CSBG being an important part of our business. Pointing out, Doug also commented some elements like Reliant are subject to kind of overall macro environment, and we just have to watch that as we move through next year.

    再一次,您可能會看到對升級與新增產能的興趣可能會更高,這不僅有利於我們的 CSBG 業務,而且有利於 Lam 每美元投資支出的捕獲率。再說一次,只是 CSBG 是我們業務的重要組成部分。指出,Doug 還評論說 Reliant 等一些元素受整體宏觀環境的影響,我們只需要在明年進行觀察。

  • Krish Sankar - MD & Senior Research Analyst

    Krish Sankar - MD & Senior Research Analyst

  • Got it. Got it. Tim, that's very helpful. And then as a follow-up, it seems like the first time your foundry revenues crossed $1 billion in a quarter. And you mentioned about some ALD wins for gate-all-around, et cetera. So I'm curious how much of the foundry strength is care gains versus just underlying cyclical strength from the foundry purchasing?

    知道了。知道了。蒂姆,這很有幫助。然後作為後續行動,您的代工收入似乎第一次在一個季度內超過 10 億美元。你提到了一些 ALD 勝利,比如門全能等等。所以我很好奇代工實力在多大程度上是護理收益與來自代工採購的潛在周期性實力相比?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • A little bit of both, Krish, frankly. Obviously, I think you understand, like I'm sure everybody on the call does, foundry investment is pretty strong this year. So that's a part of it. But there's incremental positions that we've won. Tim, every earnings call, talks about some of those. So -- and he talked about a couple of just now.

    坦率地說,Krish 兩者兼而有之。顯然,我想你明白了,就像我相信電話會議上的每個人一樣,今年的代工投資相當強勁。所以這是其中的一部分。但是我們贏得了一些增量職位。蒂姆在每次財報電話會議上都會談到其中的一些。所以——他剛才談到了幾個。

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Yes, Krish, I'm usually trying to focus on how we're doing versus what are some of the longer-term inflections that we've highlighted. When you think about foundry logic where we've been focused, it's ALD, which clearly, we've made significant progress. It's areas like the EUV patterning module, which includes hard masks and the ability to etch very fine pitch features with incredibly uniformity across the wafer and wafer-to-wafer, tool-to-tool, chamber-to-chamber. And that's -- so I've been -- usually, I'm talking about a little bit further ahead, but that gives you some sense of the momentum of the company that's independent of the cycle. It's really -- those are positions we're winning and when the customers buy, those become big opportunities for the company.

    是的,Krish,我通常會嘗試關注我們的表現與我們強調的一些長期變化。當您考慮我們一直關注的代工邏輯時,它是 ALD,很明顯,我們已經取得了重大進展。它是像 EUV 圖案化模塊這樣的領域,它包括硬掩模和蝕刻非常精細的間距特徵的能力,在晶圓和晶圓之間、工具到工具、腔室到腔室之間具有難以置信的均勻性。這就是 - 所以我一直 - 通常,我說的是更進一步,但這讓你對獨立於週期的公司的勢頭有所了解。真的 - 這些是我們正在贏得的職位,當客戶購買時,這些成為公司的巨大機會。

  • Operator

    Operator

  • Next question is from Joe Moore from Morgan Stanley.

    下一個問題來自摩根士丹利的喬摩爾。

  • Joseph Lawrence Moore - Executive Director

    Joseph Lawrence Moore - Executive Director

  • In terms of the business that's impacted by the export controls, you said $2 billion to $2.5 billion for next year. Can you talk about what that is kind of like on a run rate basis? Or just -- I'm trying to get a sense of, is that 2% to 2.5%, was that projecting some growth relative to where the numbers have been? I'm just trying to understand how much the negative impact is versus the trailing numbers.

    至於受出口管制影響的業務,你說明年要 20 億到 25 億美元。你能談談基於運行率的情況嗎?或者只是——我想了解一下,是 2% 到 2.5% 嗎,相對於數字的情況,這是否預示著一些增長?我只是想了解負面影響與尾隨數字相比有多大。

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Yes, that's a good question. I mean obviously, we're giving a '23 a little earlier that we probably have a great look at '23. But in that number, $2 billion to $2.5 billion, we did anticipate some growth in '23 over 2022. So we won't say how much, but it's incorporated some growth from the run rate we see today.

    是的,這是個好問題。我的意思是很明顯,我們要早一點給出 '23,我們可能對 '23 有很好的了解。但是在這個 20 億到 25 億美元的數字中,我們確實預計到 2022 年 23 年會有一些增長。所以我們不會說多少,但它包含了我們今天看到的運行速度的一些增長。

  • Joseph Lawrence Moore - Executive Director

    Joseph Lawrence Moore - Executive Director

  • Okay. And then within the service, the spares in particular, part of that business, I assume you'll be impacted in your ability to ship spares going forward as well. Should we think about those customers being similar in size to their overall capital spending? Or have they been sort of purchasing spares ahead of this? And could they be outsized exposure within your services business because of that?

    好的。然後在服務中,特別是備件,作為該業務的一部分,我認為您未來運送備件的能力也會受到影響。我們是否應該考慮這些客戶的規模與他們的整體資本支出相似?還是他們在此之前購買了備件?因此,它們是否會在您的服務業務中獲得巨大的曝光率?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes. Joe, there's not an enormous amount of it. There's been a little bit of inventory. I think the entire customer base built up with some of the supply chain constraints this year, including the local Chinese customers, but it's not like a crazy amount.

    是的。喬,數量並不多。有一點庫存。我認為今年整個客戶群都受到了一些供應鏈限制,包括中國本地客戶,但這並不是一個瘋狂的數字。

  • Operator

    Operator

  • Next question from Toshiya Hari from Goldman Sachs.

    來自高盛的 Toshiya Hari 的下一個問題。

  • Toshiya Hari - MD

    Toshiya Hari - MD

  • I was hoping, Doug, you could help us think about your systems revenue into '23 vis-a-vis how you're thinking about WFE. Obviously, you're over-indexed to Memory where you guys expect the bulk of the decline to come in '23.

    Doug,我希望你能幫助我們考慮到 23 年你的系統收入,以及你對 WFE 的看法。顯然,您對內存的索引過高,你們預計大部分下降將出現在 23 年。

  • You've been really successful in China and chunk of that is coming out. On the positive side, you seem to have really strong momentum in both logic and foundry. So net-net, is it fair to assume you guys can kind of perform in line with WFE? Or do you think '23 is going to be a relatively challenging year just given your mix?

    你在中國真的很成功,而且其中很大一部分都出來了。從積極的方面來說,你似乎在邏輯和代工方面都有很強的勢頭。所以 net-net,假設你們可以按照 WFE 進行表演是否公平?或者你認為考慮到你的組合,23 年會是一個相對具有挑戰性的一年嗎?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes. I think in many ways, Toshiya, you answered your own question. Yes, we're a little bit over-indexed in Memory. We're very strong in terms of share there, and that's going to be down more than overall WFE next year, but that's also offset by the strength of our CSBG business, which I believe to be the highest quality installed base business in the industry.

    是的。我認為在很多方面,Toshiya,你回答了你自己的問題。是的,我們在內存中的索引有點過高。我們在那裡的份額非常強大,明年的下降幅度將超過整體 WFE,但這也被我們 CSBG 業務的實力所抵消,我認為這是業內最高質量的安裝基礎業務.

  • So that's going to benefit us. If you really want to kind of see what it might look like, go back and look at '19, where you had a similar profile where Memory was quite soft and foundry logic was pretty good. And we weathered that period pretty well.

    所以這將使我們受益。如果您真的想看看它可能是什麼樣子,請返回並查看 19 年,您有類似的配置文件,其中內存非常軟,代工邏輯非常好。我們很好地度過了那個時期。

  • Toshiya Hari - MD

    Toshiya Hari - MD

  • That's helpful. And then as my follow-up, a question on gross margin. So you're guiding December down 150 basis points. And Doug, you spoke to customer mix. One of your competitors, they've talked about inventory write-downs and costs associated with repurposing tools. Curious if anything like that is negatively impacting your December quarter guide. And I guess more importantly, how should we think about March and beyond with volume declining, do gross margins decline further from here? Or do you think there's enough offsets in pricing and hopefully freight and semiconductor pricing that could help you on the upside?

    這很有幫助。然後作為我的後續行動,關於毛利率的問題。所以你指導 12 月下跌 150 個基點。還有道格,你談到了客戶組合。您的一位競爭對手,他們談到了庫存減記和與再利用工具相關的成本。好奇這樣的事情是否會對您的 12 月季度指南產生負面影響。而且我想更重要的是,我們應該如何看待 3 月及以後隨著銷量的下降,毛利率會進一步下降嗎?或者您認為定價方面是否有足夠的補償,希望運費和半導體定價可以幫助您獲得上行空間?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes. Let me unpack a little bit, Toshi. No, I don't really think we're going to have a meaningful inventory exposure. So no, there isn't anything from that. We believe we're going to be able to meaningfully rework any inventory we had that might have been targeted for those specific customers we can no longer ship to. And I don't think, as I sit here today, that's a material number.

    是的。讓我稍微拆開包裝,Toshi。不,我真的不認為我們會有有意義的庫存風險。所以不,沒有任何東西。我們相信,我們將能夠有意義地重新加工我們擁有的任何庫存,這些庫存可能針對我們無法再發貨的特定客戶。而且我不認為,當我今天坐在這裡時,這是一個實質性的數字。

  • So the softness, sequential softness in December gross margin is because we lost some very profitable customers in the China region, and that's going to persist, obviously. So that was kind of the first question. Unpacking next year. I mean, the way I think about it, first, I think you know, as everybody on the call does, this isn't really a fixed cost business. It's highly variable.

    因此,12 月毛利率的疲軟、連續疲軟是因為我們在中國地區失去了一些非常有利可圖的客戶,而且這種情況顯然會持續下去。所以這是第一個問題。明年開箱。我的意思是,按照我的想法,首先,我想你知道,就像電話會議上的每個人一樣,這並不是一個真正的固定成本業務。這是高度可變的。

  • And so as volumes vary, a lot of cost of goods sold varies. You've seen that from us over the years. So that hasn't changed. The model here hasn't changed. As we go into next year, the benefit, I think we'll see in gross margin is, I believe we'll see mitigation on some of these inflationary pressures. I think supply gets back caught up with demand in terms of our supply base in areas like semiconductor. I believe freight gets better next year. To what magnitude, I'm not positive, but I think that gets better.

    因此,隨著數量的變化,很多商品的銷售成本也會發生變化。多年來,您已經從我們那裡看到了這一點。所以這沒有改變。這裡的模型沒有改變。隨著我們進入明年,我認為我們將在毛利率中看到的好處是,我相信我們會看到其中一些通脹壓力得到緩解。我認為就我們在半導體等領域的供應基礎而言,供應會重新趕上需求。我相信明年貨運會好轉。到什麼程度,我並不積極,但我認為情況會好轉。

  • And then we ramp supply chain in Malaysia. So we're flying things shorter distances and whatnot. And so we're going to see the benefit of that offset then by we've just lost some very profitable customers. And yes, volume will be down. There is a little bit of fixed cost in the factory and field that we're going to have to deal with. So I'm not going to quantify it for you, but those are the puts and takes.

    然後我們在馬來西亞增加供應鏈。所以我們正在飛行更短的距離等等。因此,我們將看到這種抵消的好處,然後我們剛剛失去了一些非常有利可圖的客戶。是的,音量會下降。我們將不得不處理工廠和現場的一些固定成本。所以我不打算為你量化它,但這些都是投入和投入。

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • And the only thing I would add is that a lot of our actions -- again, I spoke to some of the repositioning. I mean, effectively, your question is about next year, but we're really thinking about, again, long-term trajectory for profitability of the company, which both Doug and I have said over time, we want to drive it meaningfully higher.

    我唯一要補充的是我們的很多行動——我再次談到了一些重新定位。我的意思是,實際上,你的問題是關於明年的,但我們真的在考慮公司盈利能力的長期軌跡,道格和我都說過,隨著時間的推移,我們希望將其推得更高。

  • And so Doug mentioned and I mentioned the investment in Malaysia. We talked about the engineering activities in India, talked about the technology lab in Korea. All of these things are designed to make us faster and more efficient in our operations over the long term. And so how much of that shows up next year and kind of how -- what the effect is, we're going to see how next year plays out. We're going to be focused on it.

    所以道格提到了,我提到了在馬來西亞的投資。我們談到了印度的工程活動,談到了韓國的技術實驗室。從長遠來看,所有這些事情都是為了讓我們在運營中更快、更高效。那麼明年會出現多少以及如何 - 效果是什麼,我們將看看明年會如何發揮作用。我們將專注於它。

  • As Doug said, if we go back and look at 2019, we did pretty well in these periods. But really, what we're trying to message is that the investments we've made over the last couple of years, taking advantage of this very strong growth period in the company really sets us up for the remainder of this decade to really drive the strategy of the company towards, again, speed [of mission] and efficiency and delivery of our products and services.

    正如道格所說,如果我們回顧 2019 年,我們在這些時期的表現相當不錯。但實際上,我們想要傳達的是,我們在過去幾年所做的投資,利用公司這個非常強勁的增長期,確實讓我們在這十年的剩餘時間裡真正推動了再次,公司的戰略是加快 [使命] 和效率以及我們的產品和服務的交付。

  • Operator

    Operator

  • Next question from Vivek Arya, Bank of America.

    美國銀行 Vivek Arya 的下一個問題。

  • Vivek Arya - MD in Equity Research & Research Analyst

    Vivek Arya - MD in Equity Research & Research Analyst

  • For the first one, I'm curious, Tim, when do you see your ex China memory customers getting to some level of supply-demand equilibrium? Is it sometime in Q1, Q2, Q3? Just what's your sense of how much inventory do they have? And how much time would it take for them to clear it out so that your orders can resume?

    對於第一個問題,蒂姆,我很好奇,你什麼時候看到你的前中國內存客戶達到某種程度的供需平衡?是在第一季度、第二季度、第三季度的某個時間嗎?你對他們有多少庫存有什麼看法?他們需要多長時間才能將其清除,以便您的訂單可以恢復?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Yes. Well, now we're starting to talk a lot more about 2023. And so again, we incorporated our view there into the 2023 guidance. I think we'd like to wait until we get a little bit closer to the year to be able to speak to that. It's customers are taking action. And I think that you're hearing from customers about some pretty aggressive action to try to bring those inventories and the supply demand better into balance.

    是的。好吧,現在我們開始更多地談論 2023 年。因此,我們再次將我們的觀點納入 2023 年指南。我想我們想等到我們離今年更近一點才能談論這個問題。它的客戶正在採取行動。而且我認為您從客戶那裡聽到了一些非常積極的行動,試圖使這些庫存和供需更好地平衡。

  • I don't really want to speak for them, but I think that as I commented, I think as we exit 2023, we're going to be set up in a pretty good place for memory spending as a percent of total WFE to actually rise from that point. How it plays out through 2023, I'll let you know our view as we get a little bit closer.

    我真的不想代表他們說話,但我認為正如我所評論的那樣,我認為隨著我們退出 2023 年,我們將建立在一個相當不錯的地方,內存支出佔 WFE 總支出的百分比到實際從那時起。到 2023 年的結果如何,隨著我們的距離越來越近,我會告訴你我們的看法。

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • And Vivek, maybe just an observation from me. I mean, these cycles have similar time frames associated with them, almost just walk back in history and look at it. With the caveat, though, I think as we came through all the supply chain challenges this time, maybe a little more entry got built up when I look at things in the industry, so it might be a little bit longer than typical. But these things are pretty consistent on a historical basis. So you just go look at history, you'll have to answer your question.

    還有 Vivek,也許只是我的觀察。我的意思是,這些週期具有與之相關的相似時間框架,幾乎只是回顧歷史並查看它。不過,需要注意的是,我認為這次我們經歷了所有供應鏈挑戰,當我查看行業中的事情時,可能會建立更多的入口,所以它可能比典型的要長一點。但這些事情在歷史基礎上是相當一致的。所以你只要看看歷史,你就必須回答你的問題。

  • Vivek Arya - MD in Equity Research & Research Analyst

    Vivek Arya - MD in Equity Research & Research Analyst

  • Right. And for my follow-up, I'm just trying to reconcile the more optimistic comments about growth made by your lithography peer this morning who is expecting to grow next year with your comments that WFE could decline over 20%.

    正確的。對於我的後續行動,我只是想調和您今天早上的光刻同行對增長的更樂觀評論,他們預計明年會增長,而您的評論認為 WFE 可能下降 20% 以上。

  • So if the little part of the wallet is going to grow, does it mean that the part that applies to you declines a lot more than 20%? I'm just trying to reconcile such a big difference in how 2 important players are thinking about next year.

    因此,如果錢包的一小部分要增長,是否意味著適用於你的部分下降了 20% 以上?我只是想調和兩位重要球員對明年的想法的巨大差異。

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • Yes, hard for me to tell you what another company is saying, especially because it was just this morning, and I haven't really been able -- Tim and I haven't really been able to look at what they said. But I think you understand, you don't just buy one tool just for the fun of it. If you can't buy all the process tools to complete the manufacturing line, it makes no sense, right?

    是的,我很難告訴你另一家公司在說什麼,尤其是因為就在今天早上,而且我還沒有真正能夠——蒂姆和我還沒有真正能夠看到他們說的話。但我想你明白,你不只是為了好玩而購買一種工具。如果你不能購買所有的工藝工具來完成生產線,那是沒有意義的,對吧?

  • And so if you bought a litho tool, you eventually etch step and everything else to complete the wafer. So I can't help you reconcile what they said because I haven't actually been able to go study it, but I think you understand what I just commented on.

    因此,如果您購買了光刻工具,您最終會通過蝕刻步驟和其他一切來完成晶圓。所以我無法幫助你協調他們所說的話,因為我實際上還沒有去研究它,但我想你明白我剛剛評論的內容。

  • Operator

    Operator

  • Next question from Blayne Curtis, Barclays.

    來自巴克萊銀行的 Blayne Curtis 的下一個問題。

  • Blayne Peter Curtis - Director & Senior Research Analyst

    Blayne Peter Curtis - Director & Senior Research Analyst

  • I just want to ask you on the restrictions. I mean I guess, just optically looking at it, it seems like you're taking out the domestic memory vendors, and I know there's very little leading-edge logic. I'm just kind of curious, there was at least some debate as to whether the multinationals, whether you could still ship to their Chinese facilities.

    我只是想問問你的限制。我的意思是我猜,光從光學上看,你似乎在淘汰國內的內存供應商,而且我知道很少有領先的邏輯。我只是有點好奇,至少有一些關於跨國公司是否仍然可以運送到他們的中國工廠的爭論。

  • I know there was some licenses maybe for services. But just kind of curious if you could just quantify your understanding of the restrictions and what you're taking out and whether it includes multinationals and if you can still ship to facilities that may make leading-edge foundry processes even if the equipment is not being used for.

    我知道可能有一些服務許可證。但是有點好奇,您是否可以量化您對限制的理解以及您要取出的內容,以及它是否包括跨國公司,以及您是否仍然可以運送到可能製造尖端鑄造工藝的設施,即使設備不是用於。

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Bunch of questions there. First of all, maybe the simplest is, we've taken out the -- obviously, the shipments that were destined for applications or customers that are restricted, which primarily means right now, domestic Chinese customers that are manufacturing restricted technologies, which in NAND and DRAM have certain specifications and in foundry logic, others.

    一堆問題。首先,也許最簡單的是,我們已經取出了——很明顯,運往受限制的應用程序或客戶的出貨量,這主要是指目前製造受限技術的中國國內客戶,其中 NAND和 DRAM 有一定的規格和代工邏輯,其他。

  • The multinationals, as you noted, were given an authorization to receive shipments and service. And so our business there effectively remains unchanged as a result of that. And so we are continuing to include that in our outlook for 2023.

    正如你所提到的,跨國公司獲得了接收貨物和服務的授權。因此,我們在那裡的業務實際上保持不變。因此,我們將繼續將其納入我們對 2023 年的展望。

  • To your point about a facility, it's our understanding that a facility that would have mixed use would likely fall under the restricted category. And so therefore, if a customer were to want to manufacture and take shipments and receive support for restricted -- for unrestricted technology, you would have to be in a facility that was clearly not also doing restricted activities. And I think that that's something that's we work through by our customers.

    就您關於設施的觀點而言,我們的理解是,混合使用的設施可能屬於受限類別。因此,如果客戶想要製造和運送貨物並獲得受限制的支持 - 對於不受限制的技術,您將不得不在一個顯然不從事受限制活動的設施中。我認為這是我們的客戶正在努力解決的問題。

  • We've contemplated all of those as well as what we believe will happen in China in that $2 billion to $2.5 billion estimate. And so that's our view right now of the restrictions and how they affect customers in our business.

    在 20 億至 25 億美元的估計中,我們已經考慮了所有這些以及我們認為將在中國發生的事情。這就是我們現在對限制以及它們如何影響我們業務中的客戶的看法。

  • Blayne Peter Curtis - Director & Senior Research Analyst

    Blayne Peter Curtis - Director & Senior Research Analyst

  • And then just on December, I was a little confused. The impact you laid out is $500-plus million per quarter that you can't ship to. Your sales are kind of flat. So I'm just kind of curious, are you making it up with other customers? Just kind of curious how fungible is equipment that you thought you're going to be shipping to Chinese memory whether it needs to -- can be repurposed in the quarter and you're doing that, and that's why you're not seeing the impact or whether you're expecting to ship to some higher level, and we just didn't know that, and that's why the sales are flat.

    然後就在十二月,我有點困惑。您列出的影響是每季度 500 多萬美元,您無法發貨。你的銷售額有點平淡。所以我只是有點好奇,你是在和其他客戶編造嗎?有點好奇,您認為是否需要運送到中國記憶的設備的可替代性如何——可以在本季度重新利用,而您正在這樣做,這就是為什麼您沒有看到影響的原因或者您是否期望出貨到更高的水平,而我們只是不知道,這就是銷售持平的原因。

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Well, I think that as you heard Doug say, the December guide would have been decently higher if the China restrictions have not been put in place. So I think that answers the question. There was a comment about -- that we made about -- perhaps we made up a little bit because of easing supply chain conditions, but that would have happened independent. So in any case, December would have been higher had the Chinese restrictions not been put in place.

    好吧,我認為正如你聽到道格所說,如果沒有實施中國限制,12 月的指南會更高。所以我認為這回答了這個問題。有一個評論——我們提出的——也許是因為供應鏈條件的放鬆,我們做了一點點,但那是獨立發生的。因此,無論如何,如果中國沒有實施限制措施,12 月的價格會更高。

  • Operator

    Operator

  • Next question is from Joe Quatrochi, Wells Fargo.

    下一個問題來自富國銀行的 Joe Quatrochi。

  • Joseph Michael Quatrochi - Senior Equity Analyst

    Joseph Michael Quatrochi - Senior Equity Analyst

  • I just wanted to go back on the expectation that deferred revenue declines in December quarter. Is there any part of that that's related to the export restrictions where customers that are now restricted had tools that were incomplete that are now, I don't know, more or less stranded?

    我只是想回到 12 月季度遞延收入下降的預期。是否有任何部分與出口限制有關,現在受限制的客戶擁有不完整的工具,現在我不知道,或多或少擱淺?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • No, Joe, there's not -- we cannot ship anything to those restricted customers.

    不,喬,沒有——我們不能向那些受限制的客戶運送任何東西。

  • Joseph Michael Quatrochi - Senior Equity Analyst

    Joseph Michael Quatrochi - Senior Equity Analyst

  • But tools, I guess, that were previously shipped that are just incomplete like they were shipped last quarter or 2 quarters ago?

    但是,我猜,以前發運的工具不完整,就像上個季度或兩個季度前發運的一樣?

  • Douglas R. Bettinger - Executive VP, CFO & CAO

    Douglas R. Bettinger - Executive VP, CFO & CAO

  • If that situation existed, and I'm not saying it did or didn't, we can't ship anything to them.

    如果這種情況存在,我並不是說它確實存在或不存在,我們不能向他們運送任何東西。

  • Joseph Michael Quatrochi - Senior Equity Analyst

    Joseph Michael Quatrochi - Senior Equity Analyst

  • Got it. Okay. And then just trying to think about bit shipments in the cycle relative to prior cycles, how do you think about your customers' willingness to hold more inventory on their own balance sheets this cycle relative to prior cycles? Does that change the way you think about maybe like the snapback in terms of like bit supply growth?

    知道了。好的。然後只是試圖考慮相對於先前週期的周期中的比特出貨量,您如何看待您的客戶在本週期相對於先前週期在自己的資產負債表上持有更多庫存的意願?這會改變你對比特供應增長的看法嗎?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • Yes, it's a good question, definitely one that's better relative to their tolerance of holding that inventory. I think everybody's view of inventory probably changed a little bit as a result of shortages and the ability to respond to what over last 2 years, we've seen is relatively sharp changes in demand. But I really can't answer for them about their willingness to hold more inventory.

    是的,這是一個很好的問題,絕對是一個相對於他們持有該庫存的容忍度更好的問題。我認為每個人對庫存的看法可能由於短缺和對過去兩年我們所看到的需求變化相對急劇變化的反應能力而發生了一些變化。但我真的無法回答他們是否願意持有更多庫存。

  • I think we're going back and as Doug said, looking at kind of historical behavior in these kinds of downturns, what we're experienced with, and that's how we kind of like project out what we think will likely happen.

    我認為我們要回去,正如道格所說,看看這些低迷時期的歷史行為,我們所經歷的,這就是我們如何預測我們認為可能會發生的事情。

  • Tina Correia - Corporate VP of IR & Corporate Finance

    Tina Correia - Corporate VP of IR & Corporate Finance

  • Operator, we have time for one more question, please.

    接線員,我們有時間再問一個問題。

  • Operator

    Operator

  • We have the last one from Quinn Bolton, Needham & Co.

    我們有來自 Quinn Bolton, Needham & Co. 的最後一個。

  • Nathaniel Quinn Bolton - Senior Analyst

    Nathaniel Quinn Bolton - Senior Analyst

  • Tim, there's some confusion or misinterpretation of the market, it seems like on the license requirements for U.S. citizens in China. I'm wondering if you can just clarify does the support license requirements affect just the same set of customers as the equipment license? Or is there a broader impact on U.S. citizens operating in China?

    蒂姆,市場有些混亂或誤解,好像是在中國對美國公民的許可要求。我想知道您是否可以澄清支持許可證要求是否只影響與設備許可證相同的一組客戶?還是對在中國經營的美國公民產生更廣泛的影響?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • On U.S. citizens operating in China, I'm not -- I mean, there is a restriction on U.S. citizens as defined by the government via providing support for the development of restricted technologies.

    關於在中國經營的美國公民,我不是——我的意思是,政府通過為受限制技術的開發提供支持來定義對美國公民的限制。

  • Nathaniel Quinn Bolton - Senior Analyst

    Nathaniel Quinn Bolton - Senior Analyst

  • Right. But is that just sort of the same set of customers that require export licenses on the equipment side? So the advanced NAND, the DRAM, 16-nanometer and below? Or is there a broader set of customers you cannot support under the export control?

    正確的。但這只是在設備方面需要出口許可證的同一組客戶嗎?那麼先進的 NAND,DRAM,16 納米及以下?或者是否有更廣泛的客戶在出口管制下無法支持?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • No. I believe it is the same step that spelled out. Fundamentally, customers that are either on a restricted list or producing restricted technologies are those that are affected.

    不,我相信這與說明的步驟相同。從根本上說,受限制名單或生產受限制技術的客戶都是受影響的客戶。

  • Nathaniel Quinn Bolton - Senior Analyst

    Nathaniel Quinn Bolton - Senior Analyst

  • Got it. And just quickly, you said you're going to manage OpEx next year. Kind of wondering if you might be able to provide any sort of qualitative color. Is that sort of -- you expect it to look similar to what happened back in 2018, 2019 in a downturn? Or would you look to be more aggressive and try to manage OpEx more in line with the decline you see in WFE in calendar '23?

    知道了。很快,你說你將在明年管理 OpEx。有點想知道您是否可以提供任何定性顏色。是那種 - 你希望它看起來類似於 2018 年、2019 年經濟低迷時期發生的情況嗎?還是您會看起來更積極,並嘗試根據您在 '23 日曆中看到的 WFE 下降趨勢來管理 OpEx?

  • Timothy M. Archer - President, CEO & Director

    Timothy M. Archer - President, CEO & Director

  • We'll give you that guidance in the January earnings call. I think what we're just trying to signal is that we're well aware of what we believe is coming next year and therefore, we'll take the appropriate actions. As we see fit, as I mentioned, to manage the company through the downturn, but also be ready for what we believe is a robust future for the company and the industry.

    我們將在 1 月份的財報電話會議上為您提供指導。我認為我們只是想表明的是,我們很清楚我們認為明年會發生什麼,因此,我們將採取適當的行動。正如我所提到的,我們認為管理公司度過低迷時期是合適的,但也要為我們認為公司和行業的強勁未來做好準備。

  • Tina Correia - Corporate VP of IR & Corporate Finance

    Tina Correia - Corporate VP of IR & Corporate Finance

  • Okay, operator, that will conclude our call. I'd like to thank everyone for joining us today. Have a good day.

    好的,接線員,這將結束我們的通話。我要感謝大家今天加入我們。祝你有美好的一天。

  • Operator

    Operator

  • That concludes today's event. Thank you for your participation. You may now disconnect.

    今天的活動到此結束。感謝您的參與。您現在可以斷開連接。