輝達 (NVDA) 2013 Q2 法說會逐字稿

Good afternoon.

下午好。

My name is Delina and I will be your conference operator today.

我的名字是 Delina，今天我將成為您的會議接線員。

At this time, I would like to welcome everyone to the NVIDIA Corporation financial results conference call.

在這個時候，我想歡迎大家參加 NVIDIA 公司財務業績電話會議。

All lines have been placed on mute to prevent any background noise.

所有線路都已靜音，以防止任何背景噪音。

After the speakers' remarks, there will be a question-and-answer session.

講者致辭後，將進行問答環節。

(Operator Instructions)

（操作員說明）

Thank you.

謝謝你。

I will now turn the call over to our host, Mr. Rob Csongor.

我現在將把電話轉給我們的主持人 Rob Csongor 先生。

Sir, you may begin your conference.

先生，您可以開始您的會議了。

Thank you.

謝謝你。

Good afternoon and welcome to NVIDIA's conference call on second quarter of fiscal 2013 results.

下午好，歡迎參加 NVIDIA 關於 2013 財年第二季度業績的電話會議。

With me on the call today from NVIDIA are Jen-Hsun Huang, President and Chief Executive Officer, and Karen Burns, Interim Chief Financial Officer.

NVIDIA 總裁兼首席執行官黃仁勳和臨時首席財務官凱倫伯恩斯今天與我通話。

After our prepared remarks, we will open up the call to a question-and-answer session.

在我們準備好發言之後，我們將打開電話問答環節。

Please limit yourself to one initial question with one follow-up.

請把自己限制在一個初始問題和一個後續問題上。

Before we begin, I'd like to remind you that today's call is being webcast live on NVIDIA's Investor Relations website and is also being recorded.

在開始之前，我想提醒您，今天的電話會議正在 NVIDIA 的投資者關係網站上進行網絡直播，並且也正在錄製中。

A replay of the conference call will be available via telephone until August 16, 2012, and the webcast will be available for replay until our conference call to discuss our financial results for our third quarter of fiscal 2013.

電話會議的重播將在 2012 年 8 月 16 日之前通過電話進行，網絡直播將在我們討論 2013 財年第三季度財務業績的電話會議之前進行重播。

The content of today's conference call is NVIDIA's property and cannot be reproduced or transcribed without our prior written consent.

今天電話會議的內容是 NVIDIA 的財產，未經我們事先書面同意，不得複製或轉錄。

During the course of this call we may make forward-looking statements based on current expectations.

在本次電話會議期間，我們可能會根據當前預期做出前瞻性陳述。

These forward-looking statements are subject to a number of significant risks and uncertainties and our actual results may differ materially.

這些前瞻性陳述受到許多重大風險和不確定性的影響，我們的實際結果可能存在重大差異。

For a discussion of factors that could affect our future financial results and business, please refer to the disclosure in today's earnings release, our Form 10-Q for the fiscal quarter ended April 29, 2012, and the reports we may file from time to time on Form 8-K filed with the Securities and Exchange Commission.

有關可能影響我們未來財務業績和業務的因素的討論，請參閱今天的收益發布中的披露、我們截至 2012 年 4 月 29 日的財政季度的 10-Q 表格以及我們可能不時提交的報告向美國證券交易委員會提交的 8-K 表格。

All our statements are made as of today, August 9, 2012, based on information available to us as of today, and except as required by law, we assume no obligation to update any such statements.

我們所有的聲明都是在今天（2012 年 8 月 9 日）根據我們今天可獲得的信息作出的，除法律要求外，我們不承擔更新任何此類聲明的義務。

Unless otherwise noted, all references to market research and market share numbers throughout the call come from Mercury Research or John Petty Research.

除非另有說明，否則在整個電話會議中對市場研究和市場份額數字的所有引用均來自 Mercury Research 或 John Petty Research。

During this call, we will discuss non-GAAP financial measures.

在本次電話會議中，我們將討論非 GAAP 財務指標。

You can find a reconciliation of these non-GAAP financial measures to GAAP financial measures in our financial release, which is posted on our website.

您可以在我們網站上發布的財務發布中找到這些非公認會計原則財務指標與公認會計原則財務指標的對賬。

With that, let's begin.

有了這個，讓我們開始吧。

We're pleased to report a better than expected quarter, driven by Kepler, the best GPU we have ever built, and Tegra 3, the world's first quad-core mobile processor.

我們很高興地報告一個好於預期的季度，這得益於我們有史以來最好的 GPU 開普勒和世界上第一個四核移動處理器 Tegra 3。

Kepler is the most capable, as well as the most energy efficient GPU architecture we've ever created.

Kepler 是我們創建的功能最強大、最節能的 GPU 架構。

Kepler drove a record quarter for our notebook business, based on the beginning of market share gains, and we believe that due to the later timing of Ivy Bridge rollout this year, the lion's share of market share gains are still to come in the third quarter.

Kepler 為我們的筆記本電腦業務帶來了創紀錄的季度，基於市場份額開始增長，我們相信由於今年 Ivy Bridge 推出的時間較晚，市場份額增長的最大份額仍將在第三季度到來.

Our desktop GPU business was also up this quarter from strong GeForce GTX sales.

由於 GeForce GTX 的強勁銷售，本季度我們的桌面 GPU 業務也有所增長。

Up to now, due to supply limitations, we've only been able to address the enthusiast market.

到目前為止，由於供應限制，我們只能解決發燒友市場。

Finally, we're able to bring Kepler to the core PC gaming market.

最後，我們能夠將 Kepler 帶入核心 PC 遊戲市場。

From our data of the global installed base, roughly 80% of gamers have graphics cards that are below the recommended specifications of the wave of new games coming out in the second half of the year.

從我們的全球安裝基數數據來看，大約 80% 的遊戲玩家擁有的顯卡低於下半年推出的新遊戲浪潮的推薦規格。

Kepler is the perfect upgrade for the millions of PC gamers around the world.

Kepler 是全球數百萬 PC 遊戲玩家的完美升級。

Kepler will soon be flowing into our Professional Businesses.

開普勒很快將流入我們的專業業務。

Our Professional Solutions Business was down slightly in the second quarter from the previous quarter, but with the recent introduction of the Tesla K10 and K20 GPU for high-performance computing, we anticipate growth again for Tesla starting next quarter as it begins to ship.

我們的專業解決方案業務在第二季度比上一季度略有下降，但隨著最近推出用於高性能計算的 Tesla K10 和 K20 GPU，我們預計特斯拉在下個季度開始出貨時將再次增長。

Tegra had a record quarter.

Tegra 有一個創紀錄的季度。

As you in the press have obviously noted, Tegra 3 is showing up in some of the world's most exciting mobile devices and the business is ramping.

正如您在媒體中明確指出的那樣，Tegra 3 正在出現在一些世界上最令人興奮的移動設備中，並且業務正在蓬勃發展。

Google recently announced and launched, to tremendous response, the Nexus 7, the world's first 199 quad-core 7-inch tablet.

谷歌最近宣布並推出了全球首款 199 四核 7 英寸平板電腦 Nexus 7，引起了巨大反響。

The Nexus 7 runs the newest version of Android 4.1, Jelly Bean.

Nexus 7 運行最新版本的 Android 4.1，Jelly Bean。

It is the perfect device for the hundreds of millions of consumers who use Android phones and would like to enjoy the same content on a larger display.

對於使用 Android 手機並希望在更大的顯示屏上欣賞相同內容的數億消費者而言，它是完美的設備。

Microsoft this quarter unveiled its own Windows RT-powered tablet called Surface.

微軟本季度推出了自己的基於 Windows RT 的平板電腦 Surface。

Again, driven by a Tegra processor.

同樣，由 Tegra 處理器驅動。

Our ground breaking mobile device powered by Tegra 3 was Fujitsu's ARROWS X, the world's first quad-core LTE smartphone, which began shipping into Japan.

我們採用 Tegra 3 的開創性移動設備是富士通的 ARROWS X，它是世界上第一款四核 LTE 智能手機，它開始在日本發貨。

Tegra processors also began shipping in automobiles this quarter, powering Tesla Motors' Model S 17-inch touch screen Infotainment and navigation system, the largest ever in a passenger car.

Tegra 處理器本季度也開始在汽車中出貨，為特斯拉汽車公司的 Model S 17 英寸觸摸屏信息娛樂和導航系統提供動力，這是乘用車中有史以來最大的。

Tegra also powers its all-digital instrument cluster.

Tegra 還為其全數字儀錶盤提供動力。

For drivers, the system provides larger, more readable maps and a beautifully rendered instrument cluster that can be personalized from the multi-function steering wheel.

對於駕駛員來說，該系統提供更大、更易讀的地圖和精美渲染的儀錶盤，可以通過多功能方向盤進行個性化設置。

With that, let me hand the call over to Karen.

有了這個，讓我把電話交給凱倫。

Thanks, Rob.

謝謝，羅伯。

Revenue of $1.04 billion increased 13% quarter-over-quarter, beating the high end of our outlook.

收入為 10.4 億美元，環比增長 13%，超過了我們預期的高端。

Driving this were strong demand for our desktop GTX GPUs and record quarters for our notebook and Tegra products.

推動這一趨勢的是對我們的台式機 GTX GPU 的強勁需求以及我們的筆記本電腦和 Tegra 產品創紀錄的季度業績。

GAAP gross margin for the quarter was 51.8%, and non-GAAP was 52%, representing an increase from Q1 of 1.7 and 1.6 percentage points respectively.

本季度 GAAP 毛利率為 51.8%，非 GAAP 毛利率為 52%，分別比第一季度提高 1.7 個和 1.6 個百分點。

Improved 28-nanometer supply enabled us to ship more of our Kepler GPUs in the high-end segment.

改進的 28 納米供應使我們能夠在高端市場推出更多的 Kepler GPU。

GAAP OpEx was $401.1 million, and non-GAAP was $342.5 million, both much better than our outlook.

GAAP OpEx 為 4.011 億美元，非 GAAP 為 3.425 億美元，均好於我們的預期。

GAAP OpEx was up on our announced charitable contribution of $25 million.

GAAP 運營支出因我們宣布的 2500 萬美元慈善捐款而增加。

Its net present value of $20.1 million was charged to OpEx as a non-recurring item.

其 2010 萬美元的淨現值作為非經常性項目計入運營支出。

Non-GAAP, which excluded this charge, was down from the prior quarter, benefiting from lower discretionary expenses.

不計此項費用的非公認會計原則比上一季度有所下降，這得益於較低的可支配費用。

These results contributed to GAAP net income of $119 million, a 97% increase over the prior quarter, equivalent to $0.19 per diluted share, which was up 90%.

這些結果為 GAAP 帶來了 1.19 億美元的淨收入，比上一季度增長了 97%，相當於每股攤薄收益 0.19 美元，增長了 90%。

Non-GAAP net income was $170.4 million, a 75% increase from Q1, equivalent to $0.27 per diluted share, a 69% increase.

非美國通用會計準則淨收入為 1.704 億美元，比第一季度增長 75%，相當於每股攤薄收益 0.27 美元，增長 69%。

Revenue results by business segment were as follows -- our GPU business was up 15% sequentially, due to the strong demand for our desktop performance and enthusiast products, and growing notebook shares as the industry continues to move to the Ivy Bridge platform.

按業務部門劃分的收入結果如下——我們的 GPU 業務環比增長 15%，原因是對我們的台式機性能和發燒友產品的強勁需求，以及隨著行業繼續轉向 Ivy Bridge 平台而不斷增長的筆記本電腦份額。

Our Professional Business was down 8% sequentially due to continued weak economic conditions in Europe and the slower ramp of Romley platform.

由於歐洲經濟持續疲軟和 Romley 平台增長放緩，我們的專業業務環比下降 8%。

Our consumer business was up 36% on the strength of our Tegra business.

得益於我們的 Tegra 業務，我們的消費者業務增長了 36%。

While we continue to be supply-constrained, our GAAP outlook for the third quarter is as follows -- revenue of $1.15 billion to $1.25 billion, gross margin of 51.8%, flat from the second quarter.

儘管我們繼續受到供應限制，但我們對第三季度的 GAAP 展望如下——收入為 11.5 億美元至 12.5 億美元，毛利率為 51.8%，與第二季度持平。

OpEx of approximately $390 million.

運營支出約為 3.9 億美元。

We expect our tax rate for the quarter to be 20%, plus or minus 1 percentage point.

我們預計本季度的稅率為 20%，上下浮動 1 個百分點。

For non-GAAP, we expect the following differences from our GAAP outlook -- gross margin of 52%, flat from Q2.

對於非 GAAP，我們預計與我們的 GAAP 展望存在以下差異——毛利率為 52%，與第二季度持平。

OpEx of approximately $350 million, which excludes stock-based compensation and certain other charges related to acquisitions and aggregate of approximately $40 million.

運營支出約為 3.5 億美元，不包括基於股票的補償和與收購相關的某些其他費用，總計約為 4000 萬美元。

Depreciation and amortization are expected to be in the range of $57 million to $59 million, and capital expenditures of $30 million to $40 million.

折舊和攤銷預計在 5700 萬美元到 5900 萬美元之間，資本支出在 3000 萬美元到 4000 萬美元之間。

Diluted shares are expected to be approximately 630 million.

稀釋後的股份預計約為6.3億股。

That concludes our prepared remarks.

我們準備好的發言到此結束。

We will now take questions.

我們現在將回答問題。

(Operator Instructions)

（操作員說明）

Vivek Arya.

維維克·艾莉亞。

Thanks for taking my question.

感謝您提出我的問題。

I was wondering, last year you had two very good quarters with Tegra in July and October, to be followed by a quarter of some inventory adjustment.

我想知道，去年 7 月和 10 月，Tegra 有兩個非常好的季度，接下來是四分之一的庫存調整。

Are conditions different this year?

今年的情況有什麼不同嗎？

Should we expect it to play out similarly this year?

我們是否應該期望它今年會出現類似的情況？

We wouldn't have guided what we guided if we didn't have faith and confidence in the Tegra growth.

如果我們對 Tegra 的增長沒有信心和信心，我們就不會指導我們所指導的。

The difference may be more important to talk about, is this year I think that it is relatively clear that the Android tablet, particularly Nexus 7, the transformers from ASUS, they're doing really well.

區別可能更重要的是，今年我認為Android平板電腦，特別是Nexus 7，華碩的變形金剛，他們做得非常好。

And the reason for that is because it has taken us some time to get the costs, the functionality and the quality of the experience really, really good.

這樣做的原因是因為我們花了一些時間來獲得真正非常好的體驗的成本、功能和質量。

You now know that there are hundreds of millions of Android phones around the world and whereas the first tablets, when they first came out, was introduced with a Honeycomb operating system.

您現在知道全球有數億部 Android 手機，而第一款平板電腦在剛問世時是採用 Honeycomb 操作系統的。

The Honeycomb operating system was very different from the Android phone operating system at the time.

Honeycomb 操作系統與當時的 Android 手機操作系統有很大不同。

But now with Jelly Bean and Ice Cream Sandwich, the applications and the investments that you make in your Android phone, all of those applications just magically show up on your Android tablet and.

但是現在有了 Jelly Bean and Ice Cream Sandwich，您在 Android 手機上所做的應用程序和投資，所有這些應用程序都會神奇地出現在您的 Android 平板電腦上。

So this Android tablet is a really wonderful, higher resolution and larger format display for you to enjoy your content when you're not running around, when you're sitting at home.

因此，這款 Android 平板電腦是一款非常棒的、更高分辨率和更大格式的顯示器，讓您在不四處奔波、在家時也能享受您的內容。

And so if you haven't had a chance to try the Nexus 7, I really urge you to.

因此，如果您還沒有機會嘗試 Nexus 7，我真的敦促您嘗試。

It's the first thing I use in the morning, the last thing I use at night.

這是我早上用的第一件事，晚上用的最後一件事。

And it's really wonderful that all of the applications and all of my content stay synchronized between my 1X phone and the Nexus 7 tablet.

我的 1X 手機和 Nexus 7 平板電腦之間的所有應用程序和所有內容都保持同步，這真是太棒了。

And so I think that the momentum of the products that we have are much stronger.

所以我認為我們擁有的產品的勢頭要強得多。

Our position in the market is much stronger.

我們在市場上的地位要強得多。

And we'll see how these devices do in the marketplace.

我們將看到這些設備在市場上的表現。

But at the moment, we're quite confident in their position in the market.

但目前，我們對他們在市場上的地位非常有信心。

Thanks.

謝謝。

And just for my follow-up, the professional solutions business, how much of it is macro, how much of it is Romley delay, how much are product specific issues?

僅針對我的後續，專業解決方案業務，有多少是宏觀的，有多少是 Romley 延遲，有多少是產品特定問題？

When should we expect that to pick up?

我們應該期望什麼時候會好起來？

Thank you.

謝謝你。

Quadro and Tesla are unique in the marketplace and we have gained share, if anything.

Quadro 和 Tesla 在市場上是獨一無二的，如果有的話，我們已經獲得了份額。

The market position of Quadro and Tesla are very good.

Quadro和特斯拉的市場地位非常好。

Their value proposition are very unique and the people that buy Quadro and Tesla buy it because they need it.

他們的價值主張非常獨特，購買 Quadro 和 Tesla 的人購買它是因為他們需要它。

It's not a discretionary expense.

這不是可自由支配的費用。

They need those products.

他們需要這些產品。

During times when the economy's a little slower and right now, as you know the economy's rather slow in Europe and in China, that affects people's enterprise consumption.

在經濟稍微放緩的時期，正如你所知，歐洲和中國的經濟相當緩慢，這會影響人們的企業消費。

So that's a factor.

所以這是一個因素。

The other factor is the Romley platform launch.

另一個因素是 Romley 平台的推出。

It's a very important platform and started out in servers and it's in the process of moving into workstations and I've had a lot of confidence in Intel's execution.

這是一個非常重要的平台，從服務器開始，它正在進入工作站，我對英特爾的執行非常有信心。

They will ramp up those workstation platforms and the OEMs are all fully charged up to ramp up those workstation platforms.

他們將提升這些工作站平台，並且 OEM 都已完全充電以提升這些工作站平台。

On top of that, we have the Kepler GPUs that are flowing into the Quadro and flowing into Tesla.

最重要的是，我們有流入 Quadro 並流入 Tesla 的 Kepler GPU。

I think the trajectory is good.

我覺得軌跡很好。

And I think things will work itself out.

而且我認為事情會自行解決。

Thank you.

謝謝你。

Patrick Wang.

帕特里克·王。

Great.

偉大的。

Thanks for taking -- first question, I want to ask about GPU.

謝謝你——第一個問題，我想問一下GPU。

You talked about being -- still being in a supply challenged environment.

你談到了——仍然處於供應挑戰的環境中。

I'm just curious how much business you feel you might have left on the table.

我只是好奇你覺得你可能還剩下多少生意。

Separately, if you could talk about the trajectory of your 28-nanometer supply, whether or not you feel like your shortages are going to subside this quarter.

另外，如果你能談談你的 28 納米供應的軌跡，你是否覺得你的短缺會在本季度消退。

We have no idea how much business we left on the table.

我們不知道我們還剩下多少生意。

And we expect to be supply constrained throughout the quarter.

我們預計整個季度的供應都會受到限制。

We've taken the supply constraints in consideration for our guidance.

我們已將供應限制考慮在內作為我們的指導。

And if the supply situation comes in the way we expect, we'll have some upside and I know that TSMC is working as hard as they can for us.

如果供應情況如我們預期的那樣，我們將有一些上漲空間，我知道台積電正在盡最大努力為我們工作。

So we'll report on what we learn at the end of the quarter.

因此，我們將在本季度末報告我們學到的內容。

Thank you.

謝謝你。

Great.

偉大的。

Thanks.

謝謝。

And just as a quick follow-up, I wanted to ask about your plans on having an integrated solution.

作為一個快速跟進，我想詢問您關於擁有集成解決方案的計劃。

I think that some of your other competitors out there are ramping -- are trying to ramp at least an integrated processor base band solution.

我認為您的其他一些競爭對手正在逐步升級——至少正在嘗試升級集成處理器基帶解決方案。

What are your plans there?

你在那裡有什麼計劃？

Are you guys still on track to really introduce code name Grey sometime in the next couple quarters here?

你們是否仍有望在接下來的幾個季度中真正引入代號格雷？

There's only one integrated LTE solution in the world today.

當今世界上只有一種集成的 LTE 解決方案。

And I think it's pretty clear that going forward, in order to build a world class phone and a top tier phone, you need to have a world class application processor, which includes great CPU and great GPUs.

而且我認為很明顯，為了打造世界一流的手機和頂級手機，您需要擁有世界一流的應用處理器，其中包括出色的 CPU 和出色的 GPU。

And you need to have a world class software stack.

而且您需要擁有世界一流的軟件堆棧。

These phones are increasingly becoming computers.

這些手機正日益成為計算機。

It's not just a telephone anymore.

它不再只是一部電話。

And so having a software stack that allows you to concurrently use all of the wonderful things that we've come to know our phone and more is really, really hard to do.

因此，擁有一個軟件堆棧，可以讓您同時使用我們已經了解的手機以及更多精彩內容，這真的很難做到。

And there are very few companies that provide that today.

今天很少有公司能提供這種服務。

And the third, of course, is a state-of-the-art modem and base band.

第三個當然是最先進的調製解調器和基帶。

And that is exactly the reason why we bought a company called Icera and our intention is to integrate those three major pieces to provide a really great platform for our customers.

這正是我們收購一家名為 Icera 的公司的原因，我們的目的是整合這三個主要部分，為我們的客戶提供一個非常棒的平台。

We haven't announced when Grey's going to be available in the marketplace, but we're working as hard as we can for it.

我們尚未宣布 Grey 何時會在市場上上市，但我們正在盡我們所能努力實現它。

When we do introduce it, it would, as you'd expect and as the reason why you're asking, expand our market position and expand our market potential tremendously.

當我們確實推出它時，正如您所期望的那樣，以及您詢問的原因，它將極大地擴大我們的市場地位並擴大我們的市場潛力。

Great.

偉大的。

If I could squeeze in one quick last one.

如果我能在最後一個快速擠進去。

Congrats on the very strong guidance for the third quarter here.

恭喜這裡獲得了非常強勁的第三季度指引。

Can you help us understand which parts of your business may be growing above or below that 15% sequential rate that you provided?

您能否幫助我們了解您的業務中哪些部分的增長可能高於或低於您提供的 15% 的環比增長率？

That's it from me.

這就是我的。

Thanks so much.

非常感謝。

Yes, first of all, thank you.

是的，首先，謝謝。

The GPU business is growing.

GPU業務正在增長。

GeForce is growing faster than the sequential rate.

GeForce 的增長速度超過了連續增長的速度。

Tegra is growing much faster than the sequential rate and the reason those two, you could probably guess, it's because Quadro is not growing as fast as the sequential rate.

Tegra 的增長速度比連續速度快得多，而這兩者的原因，你可能會猜到，這是因為 Quadro 的增長速度沒有連續速度那麼快。

Thank you.

謝謝你。

Thanks so much.

非常感謝。

Glen Yeung.

格倫·楊。

Thanks for letting me ask a question.

謝謝你讓我問一個問題。

Wanted to ask a little bit about China.

想問一些關於中國的問題。

When you guys initially discussed Tegra 3 wins you mentioned that China was a big component of that.

當你們最初討論 Tegra 3 的勝利時，你們提到中國是其中的重要組成部分。

And want to get a sense from you how you think that business will ramp, is it white box or branded names and what kind of ASPs of phones will you be selling into?

並且想從您那裡了解一下您認為業務將如何增長，是白盒還是品牌名稱以及您將銷售給什麼樣的手機 ASP？

Yes, we're just now ramping into the China, what we call the affordable super phone segment.

是的，我們剛剛進入中國，我們稱之為負擔得起的超級手機市場。

Basically, all of the capabilities of today's super phone, but really engineered for affordability.

基本上，今天的超級手機的所有功能，但真正為負擔能力而設計。

And Tegra 3 has such a great reputation.

而且 Tegra 3 的名氣如此之大。

The software stack is really exquisite and so we're quite excited about it.

軟件堆棧非常精緻，因此我們對此感到非常興奮。

There are many phones being created right now, a couple of them have been announced and we're expecting them to ramp shortly.

現在有很多手機正在開發中，其中一些已經發布，我們預計它們很快就會推出。

We still expect China to be a big market opportunity for us.

我們仍然期望中國對我們來說是一個巨大的市場機會。

If you look at the overall market, the US is very LTE-centric.

如果你看一下整個市場，美國是非常以 LTE 為中心的。

Korea's very LTE-centric.

韓國非常以LTE為中心。

It's very important to have LTE.

擁有LTE非常重要。

We don't have a very good position there until our i500 standalone LTE modem goes into production and when our integrated solution goes into production.

在我們的 i500 獨立 LTE 調製解調器投入生產以及我們的集成解決方案投入生產之前，我們在這方面的地位並不理想。

Until then, our target is really focused on the super phone and the premium phones in the non-LTE parts of the marketplace.

在那之前，我們的目標是真正專注於非 LTE 市場中的超級手機和高端手機。

That would be Europe, that would be Asia and China.

那將是歐洲，那將是亞洲和中國。

And so we still expect those to be really terrific markets for us.

所以我們仍然希望這些對我們來說是非常棒的市場。

Just to follow up there, when you are creating an affordable super phone, obviously there's a price implication on the bottom.

只是跟進那裡，當您創建負擔得起的超級手機時，顯然底部有價格含義。

How much of a role do you play in that versus other components in the phone where they can make different choices?

與手機中可以做出不同選擇的其他組件相比，您在其中扮演了多大的角色？

We're a relatively small component overall for these phones and so it's not a factor yet.

對於這些手機來說，我們是一個相對較小的組件，所以它還不是一個因素。

Okay.

好的。

And then one last quick question on the non-Apple tablet market.

然後是關於非 Apple 平板電腦市場的最後一個快速問題。

You alluded to the idea that you do see momentum there and it sounds like that momentum is better than last year.

你提到你確實看到了那裡的勢頭，聽起來這種勢頭比去年更好。

Trying to get a sense of your confidence level there, how much bigger perhaps you think the opportunity is.

試圖了解你在那裡的信心水平，你認為機會有多大。

Not necessarily for you, but for the market, the non-Apple market this year versus last year.

不一定適合你，但對於市場來說，今年非蘋果市場與去年相比。

I think we found the position.

我想我們找到了位置。

For every product, if you want to be like another product, something like iPad, it's not particularly a smart strategy.

對於每一種產品，如果你想成為另一種產品，比如 iPad，這並不是一個特別聰明的策略。

But the Nexus 7's value proposition is not to be a cheaper iPad.

但 Nexus 7 的價值主張不是成為更便宜的 iPad。

It's to be a peripheral or a companion device for someone who is really invested in the Android operating system.

對於真正投資於 Android 操作系統的人來說，它是一個外圍設備或配套設備。

And the Nexus 7, finally from a tablet perspective made it really, really easy for you to enjoy and to synchronize all of your content that you've already invested in for your Android phone.

最後，從平板電腦的角度來看，Nexus 7 讓您可以非常非常輕鬆地享受和同步您已經為 Android 手機投入的所有內容。

Just magically shows up on your Nexus 7 device.

神奇地出現在您的 Nexus 7 設備上。

It tells -- just picks up where I left off when I'm reading a book.

它告訴 - 只是在我讀書時從我離開的地方開始。

All of my music is there.

我所有的音樂都在那裡。

All my books are there.

我所有的書都在那裡。

All the readers are there.

所有的讀者都在那裡。

It's the same e-mail.

是同一個郵箱。

It's just fantastic.

這太棒了。

And so when I'm traveling, when I'm running around during the day, I use my 1X and when I get home I turn on my Nexus and I just pick up where I left off.

所以當我在旅行時，當我在白天四處奔跑時，我使用我的 1X，當我回到家時，我打開我的 Nexus，然後我就從上次停下的地方繼續。

And so I think that the value proposition is just much more clear now and the build quality is fantastic, fantastic job.

所以我認為價值主張現在更加清晰，構建質量非常棒，非常棒。

Google did a fantastic job with Jelly Bean.

Google 在 Jelly Bean 方面做得非常出色。

Google Play is really easy to use.

Google Play 真的很容易使用。

Magazines are there, books are there, movies are there.

雜誌在那裡，書在那裡，電影在那裡。

I think it's taken this long to really build a platform that adds value to Android users and so that's the value proposition.

我認為真正構建一個為 Android 用戶增加價值的平台需要很長時間，這就是價值主張。

It's not an alternative to an iPad.

它不是 iPad 的替代品。

It's really a device that enhances the user experience for someone who's an Android user and there happens to be hundreds of millions of Android users.

對於 Android 用戶而言，它確實是一種增強用戶體驗的設備，而且恰好有數億 Android 用戶。

And so I think this is -- I think the niche is really well met and I think they've done a really good job.

所以我認為這是 - 我認為利基市場真的很好，我認為他們做得非常好。

Thanks for that.

感謝那。

Appreciate all of the questions but just to make sure that we give everybody an opportunity to ask a question, I'd like to ask let's keep it to one question with one follow-on.

感謝所有的問題，但只是為了確保我們給每個人一個提問的機會，我想問一下，讓我們繼續討論一個問題。

James Schneider, Goldman Sachs.

詹姆斯施耐德，高盛。

Good afternoon, thanks for taking my question.

下午好，感謝您提出我的問題。

Congratulations on the strong results.

祝賀你取得了不錯的成績。

I was wondering if you could quantify for us in the quarter in Q2, how much was the increase in desktop versus notebook in the quarter?

我想知道您是否可以為我們在第二季度的季度量化，該季度台式機與筆記本電腦相比增加了多少？

And then do you expect desktop or notebook to be up more for Q3?

然後您是否希望台式機或筆記本電腦在第三季度上漲更多？

Desktop and notebook were both up strongly in Q2 and we expect both of them to yet again be up strongly in Q3.

台式機和筆記本電腦在第二季度均強勁增長，我們預計它們將在第三季度再次強勁增長。

In the case of notebook GPUs, we're ramping -- you probably know that Ivy Bridge ramp was delayed because the market was kind of soft.

在筆記本 GPU 的情況下，我們正在加速——你可能知道 Ivy Bridge 的加速被推遲是因為市場有點疲軟。

And now Ivy Bridge is ramping up strongly and our market share for Ivy Bridge is the best we've ever had.

現在 Ivy Bridge 正在強勁增長，我們在 Ivy Bridge 的市場份額是我們有史以來最好的。

And the reason why it's the best we've ever had is because the Kepler GPU is really the best GPU we've ever created, and its energy efficiency is just so fantastic that the market demand for it is really strong.

它之所以是我們曾經擁有過的最好的，是因為 Kepler GPU 確實是我們創造過的最好的 GPU，它的能效非常出色，以至於市場對它的需求非常強勁。

So we expect to gain share and we expect to ramp up Ivy Bridge in Q3.

因此，我們希望獲得份額，並且我們希望在第三季度增加 Ivy Bridge。

In the case of desktop, there's several factors working in our favor.

就桌面而言，有幾個因素對我們有利。

One is the PC gaming marketplace is just really, really strong.

一是PC遊戲市場非常非常強大。

PC gaming is a vibrant segment.

PC 遊戲是一個充滿活力的細分市場。

All the game developers are talking about it.

所有的遊戲開發者都在談論它。

It's a platform where free to play has become very important and whether here in the United States or China, or Europe, we're seeing strength in PC gaming.

這是一個免費遊戲變得非常重要的平台，無論是在美國、中國還是歐洲，我們都看到了 PC 遊戲的實力。

And we're about to introduce -- and we just started ramping into it -- our Kepler GPU that is targeted squarely at the gamers.

我們即將推出——我們剛剛開始涉足它——我們的 Kepler GPU，它直接針對遊戲玩家。

And this is the segment starts out at about $99, and goes all the way up to $249.

這是該部分的起價約為 99 美元，一直到 249 美元。

And those segments, we haven't been able to address until now and we've not been able to address it because we just haven't had enough supply.

而這些細分市場，我們直到現在都無法解決，我們也無法解決它，因為我們沒有足夠的供應。

And now that the supply is starting to catch up and gives us enough supply to launch into that segment, that segment is just dying for Kepler and finally we're able to bring Kepler to them.

現在供應開始趕上並為我們提供了足夠的供應來啟動該細分市場，該細分市場對 Kepler 來說正在死去，最終我們能夠將 Kepler 帶到他們身邊。

Then lastly, Q2 was quite a shock in the system.

最後，Q2 對系統造成了相當大的衝擊。

We had -- Q1 was quite a shock in the system.

我們有 - 第一季度對系統來說是一個相當大的衝擊。

We had the convergence of a couple of issues.

我們遇到了幾個問題。

One of them was the shortage of 28-nanometer supply and that was very surprising to us and to a lot of people.

其中之一是 28 納米供應短缺，這讓我們和很多人感到非常驚訝。

And the second issue was the flood in Thailand that raised the cost of disc drives, which affects the desktop market, as you know.

第二個問題是泰國的洪水，它提高了磁盤驅動器的成本，這影響了台式機市場，如您所知。

And both of those issues are working themselves out.

這兩個問題都在自行解決。

And so we've got a lot of positive momentum driving the desktop market and the market is really, really strong.

所以我們有很多積極的動力推動桌面市場，這個市場非常非常強大。

We're feeling a lot of positive momentum right now.

我們現在感受到了很多積極的勢頭。

Great.

偉大的。

And then as a follow-up, obviously the Tegra business, very, very strong as you mentioned.

然後作為後續行動，顯然是 Tegra 業務，正如你所提到的，非常非常強大。

Could you maybe share with us your -- any updated expectations in terms of Tegra revenue for the year?

您能否與我們分享您對今年 Tegra 收入的最新預期？

I think you previously guided 540.

我想你以前指導過 540。

Is it safe to say you'll exceed that this year?

可以肯定地說你今年會超過這個數字嗎？

We're comfortable with that this year.

今年我們對此感到滿意。

Great.

偉大的。

Thanks very much.

非常感謝。

Thank you very much.

非常感謝。

Raj Seth, Cowen & Company.

Raj Seth, Cowen & Company。

Hi.

你好。

Thank you.

謝謝你。

In the context of the prior question about modem integration, et cetera, downstream, wondering about your view on connectivity technologies, Bluetooth, Wi-Fi, et cetera.

在前面關於調製解調器集成等問題的背景下，下游，想知道您對連接技術、藍牙、Wi-Fi 等的看法。

How important do you think that is or not important for you over time to own those technologies?

隨著時間的推移，你認為擁有這些技術對你來說有多重要？

Thanks.

謝謝。

Integration is always a good thing.

整合總是一件好事。

Integration's a good thing.

集成是件好事。

If you look at connectivity, a multi-function connectivity chip goes for something along the lines of about $3 to $4.

如果你看一下連接性，多功能連接芯片的價格大約在 3 到 4 美元之間。

But an LTE modem is $20 to $25.

但是一個 LTE 調製解調器是 20 到 25 美元。

And so the important thing is to focus on the important thing first and so we've taken off a big bite and we're working on LTE integration and so I'm quite excited about the integrated version.

所以重要的是首先關注重要的事情，所以我們已經取得了很大的進展，我們正在研究 LTE 集成，所以我對集成版本感到非常興奮。

There are very few companies in the world that have the ability to build an integrated platform based on a world class application processor, a world class software stack and a world class modem.

世界上很少有公司有能力構建基於世界級應用處理器、世界級軟件堆棧和世界級調製解調器的集成平台。

And that's -- there are three things that are very, very hard to do and I think we're one of those companies that can pull it together.

那就是 - 有三件事非常非常難做，我認為我們是那些可以將它整合在一起的公司之一。

And when we get that done, we'll think about other things.

當我們完成這件事時，我們會考慮其他事情。

But those are really by far way, way more important than everything else.

但這些真的遠比一切都重要。

Thanks.

謝謝。

As a quick follow-up, could you comment on attach rates if you've seen any material shift there, what the trend line on attach rates is, notwithstanding the share gains you're seeing on Sandy Bridge of course.

作為快速跟進，如果您看到那裡的任何重大變化，您能否評論附加率，附加率的趨勢線是什麼，儘管您當然在桑迪橋上看到了份額增長。

We see no changes in attach rate.

我們看到附加率沒有變化。

Thank you.

謝謝你。

Thank you.

謝謝你。

Shawn Webster, Macquarie.

肖恩韋伯斯特，麥格理。

Great.

偉大的。

Thanks.

謝謝。

Good job, all across the board there, guys.

幹得好，伙計們。

Thank you.

謝謝你。

On the graphic side, you mentioned that you had a mix shift that helped you in the quarter.

在圖形方面，您提到您在本季度進行了混合轉變。

Relative to your 15% sequential increase in GPUs, I was wondering if you could add some color on what units did versus pricing sequentially.

相對於你 15% 的 GPU 連續增長，我想知道你是否可以為單位所做的與按順序定價的情況添加一些顏色。

Units were up and pricing was probably up too.

單位上漲了，價格可能也上漲了。

And the reason why we know that is because we experienced a very strong growth in the enthusiast, in the performance segment.

我們之所以知道這一點，是因為我們在性能領域的愛好者中經歷了非常強勁的增長。

Yet in the entry segment, the disc drive shortage and disc drive prices, although it's getting better.

然而在入門級，磁盤驅動器短缺和磁盤驅動器價格雖然正在好轉。

The main stream part of the marketplace is still slower than usual.

市場的主流部分仍然比平時慢。

That part of the marketplace is picking up but in Q2, the strength was mostly in the performance and enthusiast side.

這部分市場正在回暖，但在第二季度，實力主要集中在性能和發燒友方面。

We just couldn't build enough.

我們只是建造得不夠多。

Was the pricing up more than the units in Q2?

定價是否高於第二季度的單位？

I think units and pricing were both up, but I would think that pricing was up more.

我認為單位和價格都上漲了，但我認為價格上漲得更多。

Okay.

好的。

And then just as a quick follow-up to some of the supply constraints on 28, do you have any view on when that's going to normalize in terms of getting the 28 back on track and being able to have normal lead times?

然後，作為對 28 日的一些供應限制的快速跟進，您對讓 28 日重回正軌並能夠擁有正常的交貨時間方面何時會正常化有任何看法嗎？

We're expecting to be supply constrained throughout this quarter and then we'll report on it in Q4.

我們預計整個季度的供應都會受到限制，然後我們將在第四季度進行報告。

But obviously it's a combination of allocation, yield, and the market demand.

但顯然這是配置、收益率和市場需求的結合。

And so those are a lot of variables.

所以這些是很多變數。

So far, market demand seems very strong and we're selling into a marketplace with quite a bit of pent-up demand for Kepler.

到目前為止，市場需求似乎非常強勁，我們正在向一個對 Kepler 有相當多被壓抑的需求的市場進行銷售。

Yields are improving and we like them to improve even faster.

產量正在提高，我們希望它們提高得更快。

Because when you improve yield faster, with our wafer buy business model that we talked about three quarters ago, your units grow and your margins grow.

因為當您更快地提高產量時，通過我們在三個季度前談到的晶圓購買業務模式，您的單位會增長，您的利潤也會增長。

And so we really need TSMC and they're working really, really hard to improve yield because it's good for everybody and so we need them to really focus on that.

所以我們真的需要台積電，他們非常非常努力地提高產量，因為這對每個人都有好處，所以我們需要他們真正專注於這一點。

Thank you.

謝謝你。

Thanks a lot.

非常感謝。

Hans Mosesmann, Raymond James.

漢斯·摩西曼，雷蒙德·詹姆斯。

Thanks.

謝謝。

Congratulations, guys.

恭喜，伙計們。

Jen-Hsun a question on Windows RT in terms of the ramp in the second half.

Jen-Hsun 就Windows RT 下半年的坡道提出了一個問題。

Can you give us a sense of a possible split between Android related platforms and RT for Tegra?

您能否告訴我們 Android 相關平台和 RT for Tegra 之間可能存在的分歧？

Thanks.

謝謝。

It's a little early for us to talk about Windows RT.

我們現在談論 Windows RT 還為時過早。

I think all of the Windows RT questions really ought to be targeted at Microsoft right now because they haven't even really launched it.

我認為所有的 Windows RT 問題現在真的應該針對微軟，因為他們甚至還沒有真正推出它。

The sense -- the ramp is -- how about this.

感覺 - 坡道是 - 這個怎麼樣。

The ramp that you're having, I assume you're having some kind of a ramp into those platforms as we speak.

您所擁有的坡道，我假設您在我們說話時正在進入這些平台。

Is that as expected?

這是預期的嗎？

Is it better than expected?

是不是比預想的好？

Any flavor there, that would be helpful.

那裡有任何味道，那會很有幫助。

Thanks.

謝謝。

What I can say about Surface RT is that we were all, including all of you, really blown away by the announcement of Surface RT.

關於 Surface RT，我可以說的是，我們所有人，包括你們所有人，都對 Surface RT 的發布感到震驚。

I think they've done an amazing job.

我認為他們完成了一項了不起的工作。

And it's a really, really cool device and so I can't say that I saw that coming.

這是一個非常非常酷的設備，所以我不能說我看到了它的到來。

I was very positively surprised and I think so was everybody else.

我非常驚訝，我想其他人也是。

Very well.

很好。

Thanks.

謝謝。

Thanks a lot.

非常感謝。

Kevin Cassidy, Stifel Nicolaus.

凱文·卡西迪，斯蒂菲爾·尼古拉斯。

Thanks and congratulations on the quarter.

感謝並祝賀本季度。

Can you give us an update on your virtualization efforts, both the VGX and the grid?

您能否向我們介紹您在 VGX 和網格方面所做的虛擬化工作的最新情況？

We are working very, very closely with our partners.

我們正在與我們的合作夥伴非常、非常密切地合作。

The VGX is targeted at enterprise.

VGX 針對企業。

Our partners there would include the virtualization companies, Citrix, VMware and Microsoft.

我們的合作夥伴包括虛擬化公司、思傑、VMware 和微軟。

The OEMs that we would be working with there are the best OEMs in the world in the enterprise space.

我們將與之合作的 OEM 是企業領域中世界上最好的 OEM。

And we announced that Cisco would be working with us.

我們宣布思科將與我們合作。

And so we're really excited about that work, and so all of us are working on integrating software, building servers and introducing them to customers and so on.

所以我們對這項工作感到非常興奮，所以我們所有人都在致力於集成軟件、構建服務器並將它們介紹給客戶等等。

On the grid side, that's targeted at gamers.

在網格方面，這是針對遊戲玩家的。

Cloud gaming is really quite the buzz.

雲遊戲真的很流行。

One of our partners was bought by Sony recently.

我們的合作夥伴之一最近被索尼收購。

Gaikai has been a long-time partner of ours, and our development partner on grid and they were bought by Sony recently, so that's really exciting.

Gaikai 一直是我們的長期合作夥伴，也是我們在網格上的開發合作夥伴，他們最近被索尼收購，所以這真的很令人興奮。

Now they have quite large financial backing and of course a rich library of content to bring to it.

現在他們有相當大的資金支持，當然還有豐富的內容庫可以帶來。

And so we're working with the service providers on that side.

因此，我們正在與這方面的服務提供商合作。

We don't have any more to announce at the moment but we're very busy working on it.

我們目前沒有更多要宣布的信息，但我們正忙於處理它。

Okay.

好的。

And you mentioned that you expected some growth in that product group in the next quarter.

你提到你預計下個季度該產品組會有所增長。

Is that part of it or is that just going to be the HPC segment or will it be the virtualization segment also?

那是它的一部分，還是只是將成為 HPC 部分，或者它也將成為虛擬化部分？

Do you expect revenue that quickly?

你期望收入這麼快嗎？

I think that we will see some shipments this year, but I would expect that most of the servers will go to market and ramp next year in Q1 of next year.

我認為今年我們會看到一些出貨量，但我預計大多數服務器將在明年第一季度上市並在明年上市。

We have plenty to ship this year and I've got -- I could use all the supplies for everything else.

今年我們有很多東西要發貨，我有——我可以用所有的用品來做其他事情。

And so we have plenty to do already.

所以我們已經有很多事情要做了。

Okay.

好的。

Great.

偉大的。

Thank you.

謝謝你。

Vijay Rakesh, Sterne, Agee.

維杰·拉克什、斯特恩、阿吉。

Yes, hi, guys.

是的，嗨，伙計們。

Good quarter here.

這裡的好季度。

Just wondering on the Tegra 3 what's your split between tablets and handsets?

只是想知道 Tegra 3 平板電腦和手機之間的區別是什麼？

I think I might have missed this but did you guys say you're going to integrate base band down the road here?

我想我可能錯過了這個，但是你們有沒有說你們要在這裡集成基帶？

Thank you, Vijay.

謝謝你，維杰。

Our split on Tegra for tablets versus phones, is more tablets than phones.

我們對平板電腦和手機的 Tegra 分歧是平板電腦多於手機。

And my sense is that it's going to stay that way.

我的感覺是它會保持這種狀態。

And the reason for that is because I really think that the market has found nice positions for alternative tablets.

這樣做的原因是因為我真的認為市場已經為替代平板電腦找到了不錯的位置。

Nice positions with really great value proposition, a really good reason to buy it and really affordable and really exquisitely made.

不錯的位置，具有非常好的價值主張，是購買它的真正充分理由，而且價格實惠且製作精美。

And so I think we're finally seeing the convergence of all of these wonderful things in non-iPad tablets.

所以我認為我們終於看到了所有這些美妙事物在非 iPad 平板電腦中的融合。

And so we're delighted by the early success and the demand out in the marketplace for the tablets that move in.

因此，我們對早期的成功和市場對平板電腦的需求感到高興。

I think tablets is likely to be a strong growth opportunity for us as we had hoped and as we had worked on.

我認為平板電腦對我們來說可能是一個強勁的增長機會，正如我們所希望的那樣，正如我們一直在努力的那樣。

A lot of people think that the tablet market, in just a few more years, will be as large as the entire PC mobile market and based on the (technical difficulties) tablet today, I really wouldn't be surprised by that.

很多人認為，再過幾年，平板市場就會和整個PC手機市場一樣大，基於今天的（技術難點）平板，我真的不會對此感到驚訝。

And so if we can protect and even grow from our current position of tablets, I think this is going to be a very, very large part of our overall business.

因此，如果我們能夠保護我們目前的平板電腦地位，甚至發展，我認為這將成為我們整體業務的一個非常非常重要的部分。

Got it.

知道了。

Great.

偉大的。

Thanks.

謝謝。

Thanks.

謝謝。

Chris Caso, Susquehanna Financial.

克里斯·卡索，Susquehanna Financial。

Thank you.

謝謝你。

Wonder if you could talk a bit about seasonality for the January quarter.

想知道你是否可以談談一月份季度的季節性。

And obviously you don't want to give guidance now but given that there's a lot of atypical things happening in the October quarter, you're still supply constrained, Windows 8 comes out at the end of the quarter.

顯然您現在不想提供指導，但鑑於 10 月季度發生了很多非典型事件，您仍然受到供應限制，Windows 8 將在本季度末發布。

How should that affect what we see as typically seasonal patterns into the January quarter?

這將如何影響我們看到的典型季節性模式到 1 月季度？

You're absolutely right, it's too early to comment on January.

你是絕對正確的，現在評論一月還為時過早。

And we have so many new things to introduce.

我們有很多新東西要介紹。

I think there's seasonality, there's market share, there's supply, and there's new products.

我認為有季節性，有市場份額，有供應，還有新產品。

And so that's enough variables, enough elements to consider for when we get there.

這就是我們到達那裡時需要考慮的足夠多的變量和足夠的要素。

But I'm hoping that supply would be even more improved.

但我希望供應會得到更多改善。

I'm hoping that yield would be much more improved.

我希望產量會大大提高。

I'm hoping that the market is reasonably robust.

我希望市場相當強勁。

But mostly I'm excited about the new products that we're going to ship.

但大多數情況下，我對我們將要發布的新產品感到興奮。

Okay.

好的。

Great.

偉大的。

And as a follow-up, given what you said about 28-nanometer supply improving further and the yield improving further, how should we think of that with respect to gross margins?

作為後續，鑑於您所說的 28 納米供應進一步改善和產量進一步提高，我們應該如何看待毛利率？

Is there still some increase available on the gross margin line as a result of those elements?

由於這些因素，毛利率線是否仍有一些增加？

Yes.

是的。

Back in the good old days, this is three quarters ago, when we started going into wafer buy, our margins are now very, very affected by improving yields.

回到過去的美好時光，那是三季度前，當我們開始購買晶圓時，我們的利潤率現在受到產量提高的影響非常非常大。

It is a very large lever.

這是一個非常大的槓桿。

And if there's anything that we can do to improve yields, it should be all hands on deck.

如果我們可以做些什麼來提高產量，那就應該全力以赴。

And there's just a lot more room to improve 28-nanometer yield to the 40-nanometer level.

將 28 納米的良率提高到 40 納米的水平還有很大的空間。

And so what that says is that as we ramp further and further into 28-nanometer and as we improve yield, it should improve our margins and the leverage, as you can tell, would be quite significant.

所以這就是說，隨著我們越來越多地進入 28 納米，隨著我們提高產量，它應該會提高我們的利潤率和槓桿率，正如你所知，這將是非常重要的。

And so we should be all hands on deck to improve yield.

因此，我們應該全力以赴提高產量。

TSMC is already all hands on deck to improve yield and nothing could be a greater lever for their ability to increase supply for all of their customers.

台積電已經全力以赴提高產量，沒有什麼比這更能提高他們為所有客戶增加供應的能力了。

That's great.

那太棒了。

Thank you.

謝謝你。

Everybody's interests are all perfectly aligned.

每個人的利益都是完全一致的。

JoAnne Feeney, Longbow Research.

JoAnne Feeney，長弓研究中心。

Thanks and congrats on a real nice quarter, guys.

感謝並祝賀你們度過了一個真正美好的季度，伙計們。

Question for you really, Jen-Hsun, about your vision about these Android tablets.

Jen-Hsun 真的要問你關於你對這些 Android 平板電腦的看法。

I understand the easing of barriers to adoption with the similarity to phones, but one thing we're seeing with iPads is a lot of adoption in businesses, particularly services businesses.

我理解與手機相似的採用障礙的緩和，但我們在 iPad 上看到的一件事是在企業中大量採用，尤其是在服務行業。

Perhaps you could give us a sense of what do you think these Android tablets are likely to remain consumer devices and what proportion you guys are of modeling at least for maybe the percentage of users that might want to add a tablet in addition to their Android phone.

也許您可以讓我們了解您認為這些 Android 平板電腦可能仍然是消費設備，以及你們建模的比例至少對於可能希望在他們的 Android 手機之外添加平板電腦的用戶百分比.

What are you thinking about in terms of your market opportunity?

您對市場機會有何看法？

I think it's taken us 1.5 years to really even build something that appears the market really loves.

我認為我們花了 1.5 年的時間才真正構建出市場真正喜歡的東西。

And we've taken -- during this 1.5 years, we've worked on some, 60 tablets, maybe more, and we didn't give up on it because we believed in the future.

我們已經採取了——在這 1.5 年中，我們已經開發了一些，60 片，也許更多，我們沒有放棄它，因為我們相信未來。

And I think that people recognize now that we have a lot of expertise in building these and the tablets that we've built are really, really delightful.

而且我認為人們現在認識到我們在構建這些方面擁有很多專業知識，並且我們製造的平板電腦非常非常令人愉快。

And so I'm really excited about the fact that the positioning of Android tablets is now finally resonating with the marketplace.

因此，我對 Android 平板電腦的定位現在終於與市場產生共鳴這一事實感到非常興奮。

If you have an Android phone, you ought to go get yourself an Android tablet because all of your content just shows up.

如果你有一部 Android 手機，你應該去買一部 Android 平板電腦，因為你所有的內容都會顯示出來。

And I think if we use that -- if we extrapolate it from that, surely it's going to be a very large market and.

我認為如果我們使用它——如果我們從中推斷出來，肯定會是一個非常大的市場。

But we're just going to have to wait and see how it develops but I've got a lot of confidence in the ecosystem and ourselves ability to build even greater tablets based around Android.

但我們只需要等待，看看它是如何發展的，但我對生態系統和我們自己基於 Android 構建更大平板電腦的能力充滿信心。

And you could just imagine all the things that people are now doing as they hit this tablet.

你可以想像人們現在在使用這款平板電腦時所做的所有事情。

It's just going to be really wonderful.

這將是非常美妙的。

I think the positioning of Android tablets is spot on.

我認為Android平板電腦的定位是正確的。

In terms of enterprise, there's a couple of ways to make tablets much more delightful for enterprise users.

在企業方面，有幾種方法可以讓企業用戶更喜歡平板電腦。

I don't use my tablet at the office because there's just too many incompatibilities.

我不在辦公室使用我的平板電腦，因為不兼容的地方太多了。

For me, it's important for me to be able to see every number on the spreadsheet.

對我來說，能夠看到電子表格上的每個數字對我來說很重要。

Several of the numbers on a spreadsheet is not enough for me.

電子表格上的幾個數字對我來說是不夠的。

And so I need see all the numbers.

所以我需要看到所有的數字。

And I need to see all the graphs.

我需要查看所有圖表。

I need to see all the charts.

我需要查看所有圖表。

It's too important to me.

這對我來說太重要了。

And there's just no reason for me to make that compromise and there's a couple ways to provide that.

我沒有理由做出這種妥協，有幾種方法可以做到這一點。

One is obviously Office.

一個顯然是Office。

And then the other is to virtualize it, which is the way Citrix does it.

然後另一個是虛擬化，Citrix 就是這樣做的。

And Citrix and VMware and RemoteFX makes it possible for us to remote the entire PC experience to any device.

Citrix、VMware 和 RemoteFX 使我們能夠將整個 PC 體驗遠程傳輸到任何設備。

And that's the reason why we created VGX and I'm very excited about the work that we're doing there.

這就是我們創建 VGX 的原因，我對我們在那裡所做的工作感到非常興奮。

It has a real potential of freeing up all of our employees so that they can use whatever device they like and still be able to get 100% compatibility.

它具有真正的潛力，可以解放我們所有的員工，這樣他們就可以使用他們喜歡的任何設備，並且仍然能夠獲得 100% 的兼容性。

So there's a couple of ways to do that.

所以有幾種方法可以做到這一點。

Putting Office on the tablet, the pure Office version and then putting the PC in the server, remote, and virtualize it.

把Office放到平板上，純Office版本，然後把PC放到服務器上，遠程，虛擬化。

Thanks for that.

感謝那。

And then could you perhaps give us some thoughts about your operating expenses.

然後你能否給我們一些關於你的運營費用的想法。

They've remained rather elevated.

他們仍然相當高。

This is an investment stage in the new business so that's understandable.

這是新業務的投資階段，這是可以理解的。

But is this something where you feel like you need to hang on to this level of cost and you just hope to grow into these operating expenses?

但是，您是否覺得您需要堅持這一水平的成本，而您只是希望增長到這些運營費用？

Or do you envision maybe coming to a point where you've made the investments so R&D expenses will eventually fall.

或者您是否設想可能會達到您進行投資的程度，因此研發費用最終會下降。

Nothing would give me more joy than for us to be able to invest even more.

沒有什麼比我們能夠進行更多投資更讓我高興的了。

We have more ideas than we can invest in right now and we're trying to invest as thoughtfully and as in a measured way.

我們的想法比我們現在可以投資的要多，我們正在嘗試以深思熟慮和有節制的方式進行投資。

But as you mentioned, we're in the process of reinventing our Company.

但正如你所提到的，我們正在重塑我們的公司。

We're the only computer technology company that has made its way from the PC industry to the mobile industry, and now we have a real position in the mobile space.

我們是唯一一家從 PC 行業進入移動行業的計算機技術公司，現在我們在移動領域擁有真正的地位。

Whereas, there were, just one year ago, I think there was a financial -- there was an analyst report that showed some 48 application processor companies in the world and we weren't even on it.

然而，就在一年前，我認為有一份財務報告——有一份分析報告顯示了全球大約 48 家應用處理器公司，而我們甚至沒有參與其中。

And now we're probably number two.

現在我們可能是第二名。

And so I think we're making real good progress in making our way into the fastest growing segment of the computer industry.

因此，我認為我們在進入計算機行業增長最快的領域方面取得了真正的良好進展。

And I think as a computer technology company, I can't imagine why -- I can't imagine how long-term you could have a sustainable advantage if you're not one foot in the computer industry and one foot in the mobile computer industry.

而且我認為，作為一家計算機技術公司，我無法想像為什麼——我無法想像如果你不是一隻腳在電腦行業，一隻腳在移動計算機上，你能擁有多長時間的可持續優勢行業。

They're just too important not to be in these two segments.

它們太重要了，不能不屬於這兩個部分。

And so we made some investments.

所以我們做了一些投資。

We're making investments to reinvent ourselves and I think the reinvention is really paying off.

我們正在投資以重塑自己，我認為這種重塑確實得到了回報。

So sounds like we should expect you to grow into those operating expenses over some time.

所以聽起來我們應該期望你在一段時間內增長到這些運營費用。

Yes, we hope to grow our top line.

是的，我們希望增加我們的收入。

I think Q2 was a good start.

我認為第二季度是一個好的開始。

Q3, we guided to another quarter of growth and we'll take it from there.

第三季度，我們引導了另一個季度的增長，我們將從那裡開始。

Any hint you'd like to give us on where you might find your OpEx percentage say four or six quarters from now?

您想給我們任何提示，說明您可能會在哪裡找到您的運營支出百分比，比如從現在開始的四到六個季度？

I have no idea.

我不知道。

Okay.

好的。

Thanks.

謝謝。

Thank you.

謝謝你。

Arnab Chanda, Avian.

Arnab Chanda，鳥類。

Jen-Hsun, just a couple quick questions.

Jen-Hsun，只是幾個簡單的問題。

First, historically I think I remember your work professional business actually is significantly higher margin than the other two businesses.

首先，從歷史上看，我想我記得你的工作專業業務實際上比其他兩個業務的利潤率要高得多。

Now you're getting mix moving towards your GPUs and you're still actually improving your gross margins.

現在，您正在向 GPU 方向發展，而您實際上仍在提高您的毛利率。

Could you talk about that?

你能談談嗎？

Is that because of the new business model?

是因為新的商業模式嗎？

Is that because your cost structure's much better?

那是因為您的成本結構要好得多嗎？

If you could talk a little about that.

如果你能談談這個。

Thank you.

謝謝你。

Kepler is a real margin driver.

開普勒是一個真正的利潤驅動器。

And so when we ship enthusiasts, when we ship performance, those are all margin drivers.

因此，當我們運送發燒友時，當我們運送性能時，這些都是利潤驅動因素。

You're right that Quadro and Tesla were both down and they both have the highest margins.

沒錯，Quadro 和特斯拉都在下跌，而且它們的利潤率都最高。

And also because they're the highest value in the most software intensive parts of our business.

也因為它們是我們業務中軟件最密集的部分中的最高價值。

They have much higher margins.

他們的利潤率要高得多。

They were both down.

他們倆都倒下了。

And so the other businesses made up for their margins and more.

因此，其他業務彌補了他們的利潤等等。

But it's -- the current business model, I prefer a dive by to tell you the truth.

但它是 - 當前的商業模式，我更喜歡潛入告訴你真相。

It's just because it's simpler for us and it's more predictable for us.

只是因為它對我們來說更簡單，對我們來說更可預測。

But now that we're in the wafer buy model, we just have to put a lot more intensity into yield improvement.

但現在我們處於晶圓購買模式，我們只需要更加努力地提高產量。

Yield was better in Q2 than it was in Q1.

第二季度的收益率好於第一季度。

We're expecting it to be better in Q3.

我們預計第三季度會更好。

And so we really have to drive the living tar out of it and be all hands on deck.

所以我們真的必須把活著的焦油趕出去，全力以赴。

It is a very, very important earnings driver for us and we're still far away from where we need to be and where we were before, it was higher than this.

這對我們來說是一個非常非常重要的收入驅動因素，我們離我們需要的地方和以前的地方還很遠，它比這更高。

So, 28-nanometer is still, overall, still dragging our gross margins as a Company but we need to -- we have our sights on much higher margins than this.

因此，總體而言，28 納米仍然拖累我們作為一家公司的毛利率，但我們需要——我們的目標是比這更高的利潤率。

Great.

偉大的。

And then for the Tegra business, obviously one year made a huge difference.

然後對於 Tegra 業務，顯然一年產生了巨大的變化。

Clearly it seems like now at least people would agree there is a market for Android tablets.

顯然，現在至少人們會同意 Android 平板電腦有市場。

Could you talk about -- you said phone versus tablet, you're focusing more on tablet or you think that's where the growth comes from.

你能談談 - 你說手機與平板電腦，你更關注平板電腦，或者你認為這就是增長的來源。

To the extent you could give us some qualitative idea on Windows 8 or Windows RT I should say, are you talking about multiple design wins?

在某種程度上，您可以給我們一些關於 Windows 8 或 Windows RT 的定性想法，我應該說，您是在談論多項設計勝利嗎？

Is it a significant contributor for Q3 and how do you see that progressing.

它是第三季度的重要貢獻者嗎？您如何看待這一進展。

Would really appreciate that.

真的很感激。

Thank you.

謝謝你。

We have three design wins on Windows RT and I think Microsoft announced -- Microsoft announced theirs.

我們在 Windows RT 上獲得了三項設計勝利，我認為微軟宣布了——微軟宣布了他們的勝利。

ASUS announced theirs.

華碩宣布了他們的。

I don't think the third has been announced yet.

我認為第三個尚未公佈。

I won't announce it for them.

我不會為他們宣布。

In the near term, tablets will be an important driver for us and the reason for that is because our segment of the phone marketplace is mostly focused on super phones and the performance phones.

在短期內，平板電腦將成為我們的重要驅動力，原因是我們的手機市場主要集中在超級手機和性能手機上。

In order for us to grow much, much more, we have to integrate a very important piece called the LTE modem.

為了讓我們發展得更多、更多，我們必須集成一個非常重要的部分，稱為 LTE 調製解調器。

And so we have to integrate that and that's the reason why we bought Icera.

所以我們必須整合它，這就是我們購買 Icera 的原因。

When we do that, when we achieve that, our market opportunity grows substantially.

當我們這樣做時，當我們實現這一目標時，我們的市場機會就會大幅增長。

It's many times larger than the current phone segment that we target.

它比我們當前定位的手機細分市場大很多倍。

And so I think that in the next several quarters our primary focus is going to be continued smartphones or super phones and premium phones.

因此，我認為在接下來的幾個季度中，我們的主要重點將是繼續使用智能手機或超級手機和高端手機。

And then of course ramping all of these tablets that we've been designed into.

然後當然是增加我們設計的所有這些平板電腦。

Thanks, Jen-Hsun.

謝謝，仁勳。

Seems like your years of investment are finally paying off.

看來你多年的投資終於有了回報。

Thank you very much.

非常感謝。

Craig Berger, FBR Capital Markets.

Craig Berger，FBR 資本市場。

Hi, guys.

嗨，大家好。

Thanks for taking my questions.

感謝您提出我的問題。

Nice job on the quarter.

本季度幹得不錯。

I know you guys, earlier in the year, talked about 30 handsets on Tegra.

我知道你們在今年早些時候談到了關於 Tegra 的 30 款手機。

Do you have any update for us there, how many of those handsets are now out in the market, how many might still be coming in the second half?

您對我們有什麼更新嗎？這些手機中有多少現在已經上市，有多少可能在下半年上市？

There are many that have already come out from HTC.

HTC已經推出了很多產品。

The European models, the Chinese models, the Asian models, the US model is coming out soon, I think.

我想歐洲模式、中國模式、亞洲模式、美國模式即將問世。

There's the LG phones, the Fujitsu phones and now we're in the process of ramping the phones that are indigenous to the Chinese market.

有 LG 手機、富士通手機，現在我們正在增加中國市場的本土手機。

We've ramped the ZTE phone, that's also a global phone, and we're in the process of now ramping the super phones in the Chinese market.

我們已經推出了中興手機，這也是一款全球手機，我們現在正在中國市場推出超級手機。

And so -- but as you know, the real focus is to make sure that we build these phones as wonderfully as we can.

所以——但如你所知，真正的重點是確保我們盡可能完美地製造這些手機。

I'm just incredibly proud of the work that we did with HTC on the 1X.

我為 HTC 在 1X 上所做的工作感到無比自豪。

It's just an exquisite phone.

這只是一部精緻的手機。

So if we made a whole bunch more like that, I think we're going to be in good shape.

所以如果我們讓一大群人更像那樣，我認為我們的狀態會很好。

Great.

偉大的。

And then the follow-up question is on the professional side of the business.

然後後續問題是關於業務的專業方面。

How do we think about Quadro going forward and can you also give us any update on your enterprise Tesla operations?

我們如何看待 Quadro 的未來發展，您能否向我們提供有關您的企業 Tesla 運營的任何最新信息？

Thanks.

謝謝。

Quadro's position is better than ever.

Quadro 的地位比以往任何時候都好。

Our market share and our market position is the highest it's ever been.

我們的市場份額和市場地位是有史以來最高的。

The technologies and the capabilities we're bringing to that marketplace, we were just at SigEp this week and you might have seen some of the announcements.

我們為該市場帶來的技術和功能，我們本周剛剛在 SigEp，您可能已經看到了一些公告。

The work that we're doing around Quadro plus Tesla to accelerate the design work flow is really revolutionary.

我們圍繞 Quadro 和 Tesla 進行的加速設計工作流程的工作確實具有革命性意義。

And people are just so excited about it because -- I was just reading a report today about one particular company that took 1.5 months to create a particular shot and is now able to do it literally in two days.

人們對此感到非常興奮，因為——我今天剛剛閱讀了一份關於一家特定公司的報告，該公司花了 1.5 個月的時間來製作一個特定的鏡頭，現在可以在兩天內完成。

So whether it's a rendering or video compositing or simulation in creating those shots, and most shots today have so much computer graphics in it, and advertising.

因此，無論是渲染、視頻合成還是模擬創建這些鏡頭，今天的大多數鏡頭都包含大量計算機圖形和廣告。

And HD advertising is a very big part of the work that we do with Quadro, it's really revolutionized how people produce videos.

高清廣告是我們使用 Quadro 所做工作的重要組成部分，它確實徹底改變了人們製作視頻的方式。

The work that we're doing is better than ever.

我們正在做的工作比以往任何時候都好。

I have every confidence that as soon as the economy gets better or even if it doesn't get better, eventually people will have to upgrade their workstations because it's at the core of the work that they do as the creative part of their company.

我完全有信心，一旦經濟好轉，或者即使沒有好轉，最終人們將不得不升級他們的工作站，因為這是他們作為公司創意部分所做的工作的核心。

Irrespective of the economy, at some point, people will have to come back and buy new workstations.

無論經濟狀況如何，在某些時候，人們將不得不回來購買新的工作站。

I think part of it is people waiting for Romley to launch.

我認為部分原因是人們在等待 Romley 推出。

They're ramping up into workstation, into the workstation space, and I think the ramp is just now ramping up.

他們正在加速進入工作站，進入工作站空間，我認為斜坡剛剛開始加速。

So I have every confidence that once those things get settled down, that the enterprise customers will come back and buy again.

所以我完全有信心，一旦這些事情解決了，企業客戶就會回來再次購買。

You guys have a lot of cash.

你們有很多現金。

Do you have any plans for that cash?

你對這筆現金有什麼計劃嗎？

The only plans that we have to announce right now is to make a lot more cash.

我們現在必須宣布的唯一計劃是賺更多的錢。

Very nice.

非常好。

Thank you.

謝謝你。

Thanks a lot.

非常感謝。

Rajiv Gill, Needham & Company.

拉吉夫·吉爾，Needham & Company。

Yes, thanks and congrats as well.

是的，謝謝和祝賀。

On the Tegra business, it seems that most of the growth that occurred in the second quarter was coming from the tablet builds and it appears that's going to continue into the third quarter as well.

在 Tegra 業務上，似乎第二季度出現的大部分增長來自平板電腦的製造，而且這種情況似乎也將持續到第三季度。

I was wondering if you can give me any insight in terms of sell-in versus sell-through, any sell-through rates you could talk about.

我想知道您是否可以就賣出與賣出以及您可以談論的賣出率給我任何見解。

Let's see.

讓我們來看看。

The first observation (Inaudible) most of the growth came from Kepler tablet segments.

第一個觀察結果（聽不清）大部分增長來自 Kepler 平板電腦細分市場。

And in Q3 (Inaudible) have more even tablets go to production and so I don't know that I have much more insight than that and we'll come back and report it as soon as we can.

在第三季度（聽不清）有更多的平板電腦投入生產，所以我不知道我有比這更多的洞察力，我們會盡快回來報告。

I think the high level (Inaudible) just the market reception of these tablets have been better than any tablets that we've ever (Inaudible).

我認為這些平板電腦的高水平（聽不清）只是市場接受度比我們曾經的任何平板電腦（聽不清）都要好。

Last question.

最後一個問題。

On the graphic card side, that business is growing well.

在顯卡方面，該業務發展良好。

In light of a very tough PC environment and you expect that to grow in the third quarter.

鑑於 PC 環境非常艱難，您預計第三季度會增長。

So are you going -- are you seeing a resurgence in PC demand given the Ivy Bridge ramps corresponding with the Ultrabook, Windows 8 or is primarily market share gains, new product customers?

那麼，您是否看到了 PC 需求的複蘇，因為 Ivy Bridge 與 Ultrabook、Windows 8 相對應，或者主要是市場份額增加、新產品客戶？

Could you elaborate a little further on that?

你能詳細說明一下嗎？

Could you please mute your phone?

你能把你的手機靜音嗎？

We're getting a lot of noise.

我們聽到很多噪音。

Thanks.

謝謝。

Thank you.

謝謝你。

Couple of growth drivers for us in GPUs.

我們在 GPU 方面的幾個增長驅動力。

One of them of course is the notebook design wins on Ivy Bridge and Ivy Bridge was going to ramp in Q2 and it ended up ramping in had Q3, and so that's one growth driver.

其中之一當然是 Ivy Bridge 筆記本電腦設計的勝利，而 Ivy Bridge 將在第二季度開始增長，最終在第三季度開始增長，所以這是一個增長驅動力。

Our market share is going to be higher.

我們的市場份額會更高。

The attach rate is stable.

附著率穩定。

And Kepler is just a really wonderful GPU for notebooks because it's so energy efficient.

Kepler 是一款非常適合筆記本電腦的 GPU，因為它非常節能。

The other growth driver is desktop.

另一個增長動力是台式機。

We're not seeing anything different than other people from a demand perspective, but it's important to realize that desktop for us is not the same as OEM desktop.

從需求的角度來看，我們沒有看到與其他人有任何不同，但重要的是要意識到我們的桌面與 OEM 桌面不同。

The vast majority of our GPUs for desktops are sold to gamers.

我們的絕大多數台式機 GPU 都出售給遊戲玩家。

There are -- hard to say exactly how many hard core gamers are around the world but it's many, many tens of millions and people estimate it's somewhere around 50 million to 100 million core gamers around the world.

很難確切地說世界上有多少核心遊戲玩家，但數量很多，數以千萬計，人們估計全世界大約有 5000 萬到 1 億核心遊戲玩家。

And they upgrade their GPUs every couple years and I think that Kepler is the best GPU we've ever built.

他們每隔幾年就會升級一次 GPU，我認為 Kepler 是我們製造過的最好的 GPU。

It's the best GPU the industry's ever built and it's the best GPU in the industry today.

它是業界有史以來最好的 GPU，也是當今業界最好的 GPU。

And so everybody has been anticipating the Kepler GPU for the gamer segment.

因此，每個人都在期待 Kepler GPU 用於遊戲玩家領域。

And we haven't been able to ramp into it because the demand or because the supply just didn't allow us to do it until now.

而且我們無法進入它，因為需求或供應直到現在才允許我們這樣做。

And so we're going to be quite enthusiastic ramping Kepler into the gamer market and the reception has just been fantastic.

因此，我們將非常熱衷於將 Kepler 推向遊戲玩家市場，而且接待非常好。

Operator, I think we have time for one more question.

接線員，我想我們還有時間再問一個問題。

Suji De Silva, ThinkEquity.

蘇吉·德席爾瓦，ThinkEquity。

Hi, guys.

嗨，大家好。

Nice job on the quarter and the guidance.

本季度的出色工作和指導。

Just to follow up on that last question, with the constraints on 28-nanometer, is that impacting more the OEMs or the channel you just talked about?

只是跟進最後一個問題，由於 28 納米的限制，這會影響更多的 OEM 還是您剛才談到的渠道？

If it is the channel, is it a potential there is pent-up demand as that becomes available?

如果是渠道，是否存在潛在的被壓抑的需求？

For desktop GPUs, our desktop market -- the OEM market is actually very small.

對於桌面 GPU，我們的桌面市場——OEM 市場實際上非常小。

And it's consistent with anybody's observations.

這與任何人的觀察一致。

We don't buy desktop PCs very much from tier 1 OEMs anymore.

我們不再從一級 OEM 購買台式電腦了。

And yet, the desktop PC market is really quite vibrant and the reason for that is because gamers build their own PCs.

然而，台式 PC 市場確實非常活躍，其原因是遊戲玩家構建了自己的 PC。

There's tens of millions of gamers all over the world.

全世界有數以千萬計的遊戲玩家。

And so I think, one, the market is very different than people expect.

所以我認為，第一，市場與人們預期的非常不同。

Two, what drives the gamers are two things.

第二，驅動遊戲玩家的是兩件事。

One, great games and there are just some wonderful games coming out now and PC gaming is really surging.

第一，很棒的遊戲，現在有一些很棒的遊戲問世了，PC 遊戲真的很火爆。

From a technological perspective, from a game play and interest perspective, it's surging past game consoles.

從技術上看，從遊戲玩法和興趣上看，它正在風靡過去的遊戲機。

Secondarily, the Kepler GPU is just so fantastic.

其次，Kepler GPU 真是太棒了。

It's the best GPU we've ever built and compared to what the current installed base is, it is so far superior that I think gamers have been clamoring for it.

它是我們構建過的最好的 GPU，與當前安裝的基礎相比，它的優越性遠遠超過我認為遊戲玩家一直在叫囂著它。

Until now, the most affordable Kepler is about $400.

到目前為止，最實惠的開普勒大約是 400 美元。

It's only been available for enthusiasts and enthusiasts and scientists.

它僅適用於愛好者、愛好者和科學家。

And finally, we've been able to bring that -- bring the price down to the level of a gamer, PC gamer and a volume that allows us to support the ramp.

最後，我們已經能夠實現這一點——將價格降低到遊戲玩家、PC 遊戲玩家的水平，並讓我們能夠支持坡道。

Okay.

好的。

And then on the share on the notebooks on Ivy Bridge, in the past you've peaked around 65%, 70%.

然後在 Ivy Bridge 上的筆記本電腦上的份額，過去你曾達到 65%、70% 左右的峰值。

Do you think you can go above that with the Kepler product given the competitive landscape at this point?

鑑於目前的競爭格局，您認為您可以使用 Kepler 產品超越這一點嗎？

I'm not really sure.

我不太確定。

Give me a chance to see how it turns out, then we'll come back and report it.

給我一個機會看看結果如何，然後我們會回來報告。

Thanks, guys.

多謝你們。

Thank you very much.

非常感謝。

Okay.

好的。

Thank you everyone.

謝謝大家。

That will do it for today.

今天就這樣做。

We look forward to talking to you about our Q3 results.

我們期待與您討論我們的第三季度業績。

Thank you.

謝謝你。

This concludes today's conference call.

今天的電話會議到此結束。

You may now disconnect.

您現在可以斷開連接。