思佳訊 (SWKS) 2021 Q2 法說會逐字稿

Good afternoon, and welcome to Skyworks Solutions Second Quarter Fiscal Year 2021 Earnings Call.

下午好，歡迎參加 Skyworks Solutions 2021 財年第二季度財報電話會議。

This call is being recorded.

正在錄製此通話。

At this time, I will turn the call over to Mitch Haws, Investor Relations for Skyworks.

此時，我將把電話轉給 Skyworks 投資者關係部的 Mitch Haws。

Mr. Haws, please go ahead.

霍斯先生，請繼續。

Thank you, Rob.

謝謝你，羅布。

Good afternoon, everyone, and welcome to Skyworks' Second Fiscal Quarter 2021 Conference Call.

大家下午好，歡迎參加 Skyworks 2021 財年第二季度電話會議。

With me today are Liam Griffin, our President and Chief Executive Officer; and Kris Sennesael, an Officer.

今天和我在一起的是我們的總裁兼首席執行官 Liam Griffin；和官員克里斯·森內塞爾（Kris Sennesael）。

Before we begin, I would like to remind everyone that our discussion will include statements relating to future results and expectations that are or may be considered forward-looking statements.

在開始之前，我想提醒大家，我們的討論將包括與未來結果和預期相關的陳述，這些陳述是或可能被視為前瞻性陳述。

Please refer to our earnings press release and recent SEC filings, including our annual report on Form 10-K for information on certain risks that could cause actual outcomes to differ materially and adversely from any forward-looking statements made today.

請參閱我們的收益新聞稿和最近提交給美國證券交易委員會的文件，包括我們關於 10-K 表格的年度報告，以了解可能導致實際結果與今天做出的任何前瞻性陳述產生重大不利影響的某些風險的信息。

Additionally, the results and guidance we will discuss include non-GAAP financial measures, consistent with our past practice.

此外，我們將討論的結果和指導包括非公認會計準則財務指標，與我們過去的做法一致。

Please refer to our press release within the Investor Relations section of our company website for a complete reconciliation to GAAP.

請參閱我們公司網站投資者關係部分的新聞稿，以了解與 GAAP 的完全對賬。

With that, I'll turn the call to Liam.

有了這個，我會把電話轉給 Liam。

Thanks, Mitch, and welcome, everyone.

謝謝，米奇，歡迎大家。

Skyworks delivered another record quarter with strong year-over-year growth in revenue, margins and earnings per share for Q2.

Skyworks 又一個創紀錄的季度實現了第二季度的收入、利潤率和每股收益的強勁同比增長。

We continue to leverage our expansive technology reach and deep customer engagements, spanning both mobile and broad markets to capture the exploding demand for connectivity.

我們繼續利用我們廣泛的技術範圍和深入的客戶參與，跨越移動市場和廣闊的市場，以捕捉對連接的爆炸式需求。

And with our planned acquisition of the infrastructure and automotive business of Silicon Labs, we expect to accelerate that momentum further.

隨著我們計劃收購 Silicon Labs 的基礎設施和汽車業務，我們希望進一步加快這一勢頭。

Here are a few highlights in the quarter.

以下是本季度的一些亮點。

We delivered revenue of $1.17 billion, 53% above Q2 of last year.

我們實現了 11.7 億美元的收入，比去年第二季度增長了 53%。

Our broad markets portfolio generated record revenue of $385 million, 67% growth over the same period last year.

我們廣泛的市場組合創造了創紀錄的 3.85 億美元收入，比去年同期增長 67%。

We posted a new Q2 record for earnings per share of $2.37, representing a year-over-year increase of 77% and demonstrating strong operating leverage.

我們公佈了新的第二季度每股收益記錄 2.37 美元，同比增長 77%，顯示出強大的運營槓桿。

Importantly, we drove $616 million in operating cash flow, a quarterly record -- a new quarterly record for the company.

重要的是，我們推動了 6.16 億美元的運營現金流，創下季度記錄——這是公司的新季度記錄。

Looking ahead, the technology bar has never been higher as billions of daily interactions move online, spawning a growing set of use cases from remote work, virtual education, touchless commerce, cognitive audio, machine-to-machine communication and autonomous transport.

展望未來，隨著數十億次日常互動在線上進行，技術門檻從未如此之高，從遠程工作、虛擬教育、非接觸式商務、認知音頻、機器對機器通信和自動交通等方面產生了越來越多的用例。

These advances rely on radical upgrades in speed, latency and reliability with comparable requirements for power efficiency and smaller form factors.

這些進步依賴於速度、延遲和可靠性的徹底升級，以及對功率效率和更小的外形尺寸的可比要求。

For nearly 2 decades, Skyworks has prepared for this opportunity, investing in innovative technologies, human capital and manufacturing infrastructure, positioning us to capitalize on the secular global transition.

近 2 年來，Skyworks 一直在為這個機會做好準備，投資於創新技術、人力資本和製造基礎設施，使我們能夠利用世俗的全球轉型。

Notably, our strong cash generation fortifies our ability to fund deep investments in technology, fabs and manufacturing scale.

值得注意的是，我們強大的現金生成能力增強了我們為技術、晶圓廠和製造規模進行深度投資的能力。

Further, our proven and flexible model is squarely aligned with the complex demands of our customers.

此外，我們成熟且靈活的模型完全符合客戶的複雜需求。

Our demonstrated operational expertise allowed us to drive yet another strong quarter of design win execution.

我們展示的運營專業知識使我們能夠推動又一個強勁的季度設計獲勝執行。

In mobile, we expanded the reach of our Sky5 portfolio across premium and mid-tier 5G smartphone launches at Samsung, Oppo, Vivo, Xiaomi and other leading OEMs.

在移動領域，我們擴大了 Sky5 產品組合的覆蓋範圍，包括在三星、Oppo、Vivo、小米和其他領先 OEM 推出的高端和中端 5G 智能手機。

In the IoT space, we secured wins across a diverse set of customers.

在物聯網領域，我們贏得了各種客戶的青睞。

Specifically, we partnered with NETGEAR to deploy Wi-Fi 6 and 6E routers, launched Wi-Fi 6 gateways at Deutsche Telekom, Nokia and Altice, shipped home security solutions to Xfinity, capture design wins with Google Nest, and we delivered low latency cognitive audio systems powering wireless gaming headsets at Microsoft and Sony.

具體來說，我們與 NETGEAR 合作部署 Wi-Fi 6 和 6E 路由器，在 Deutsche Telekom、Nokia 和 Altice 推出 Wi-Fi 6 網關，向 Xfinity 提供家庭安全解決方案，通過 Google Nest 獲得設計勝利，我們提供了低延遲認知為 Microsoft 和 Sony 的無線遊戲耳機供電的音頻系統。

Moving to the industrial space.

轉向工業領域。

We delivered IoT modules to Quectel and Gemalto, in an infrastructure, we leveraged our wireless portfolio to deploy MIMO base stations with Nokia and Ericsson.

我們向移遠通信和金雅拓交付了物聯網模塊，在基礎設施中，我們利用我們的無線產品組合與諾基亞和愛立信一起部署了 MIMO 基站。

And finally, in automotive, we ramped telematics and driver assist platforms with Volkswagen, LG and GM OnStar.

最後，在汽車領域，我們與大眾、LG 和 GM OnStar 合作推出了遠程信息處理和駕駛員輔助平台。

Moving forward, we see a multiyear technological -- technology evolution with our aperture widening from smartphones, industrial to automotive to an expanding set of IoT devices.

展望未來，我們看到了多年的技術演進，我們的領域從智能手機、工業到汽車，再到不斷擴大的物聯網設備。

Today, we support a global network that extends to over 20 billion interconnected devices, spanning a new class of ecosystems from autonomous transport to smart cities and robotics.

今天，我們支持的全球網絡擴展到超過 200 億個互連設備，涵蓋從自動交通到智能城市和機器人技術的新型生態系統。

Skyworks is fueling this dramatic shift with our unique capabilities, integrating not only 5G, but other critical protocols, including high-performance Wi-Fi, Bluetooth and precision GPS.

Skyworks 憑藉我們獨特的能力推動了這一巨大轉變，不僅集成了 5G，還集成了其他關鍵協議，包括高性能 Wi-Fi、藍牙和精密 GPS。

Finally, Skyworks is well positioned to win with deep customer relationships established over 20 years, experience across multiple technology transitions, a technically seasoned and talented workforce and an efficient cash flow engine that funds a pipeline of market leading solutions, while providing strong returns to our shareholders.

最後，Skyworks 憑藉 20 多年建立的深厚客戶關係、多次技術轉型的經驗、技術經驗豐富且才華橫溢的員工隊伍以及為市場領先的解決方案提供資金的高效現金流引擎，做好了贏得勝利的準備，同時為我們提供了豐厚的回報。股東。

With that, I will turn the call over to Kris for a discussion of Q2 and our outlook for Q3.

有了這個，我將把電話轉給 Kris 討論第二季度和我們對第三季度的展望。

Thanks, Liam.

謝謝，利亞姆。

Skyworks posted another quarter of strong financial results delivering record Q2 revenue of $1.172 billion, exceeding the midpoint of our guidance.

Skyworks 公佈了另一個季度強勁的財務業績，第二季度收入達到創紀錄的 11.72 億美元，超過了我們指導的中點。

Total revenue grew 53% year-over-year based on early 5G adoption as well as strong demand for our broad market solutions.

基於早期 5G 的採用以及對我們廣泛市場解決方案的強勁需求，總收入同比增長 53%。

Mobile revenue grew 47% year-over-year, largely driven by widespread content increases as 5G phones are ramping across smartphone OEMs worldwide.

移動收入同比增長 47%，主要是由於 5G 手機在全球智能手機 OEM 中的普及，內容廣泛增加。

Broad markets revenue grew further in Q2 to an all-time record of $385 million.

第二季度廣泛的市場收入進一步增長至 3.85 億美元的歷史記錄。

This reflects revenue growth of 67% over Q2 of last year, benefiting from a diverse set of use cases, including the adoption of technologies such as Wi-Fi 6 and 6E, 5G wireless infrastructure and automotive, along with the continued positive momentum in our audio solutions business.

這反映了收入比去年第二季度增長了 67%，這得益於各種用例，包括採用 Wi-Fi 6 和 6E、5G 無線基礎設施和汽車等技術，以及我們持續的積極勢頭。音頻解決方案業務。

Gross profit in the quarter was $595 million, resulting in a gross margin of 50.8%, up 60 basis points year-over-year.

本季度毛利潤為 5.95 億美元，毛利率為 50.8%，同比增長 60 個基點。

Operating expenses were $155 million or 13.2% of revenue, demonstrating spending discipline while continuing our strategic investments to drive growth.

運營費用為 1.55 億美元，佔收入的 13.2%，顯示了支出紀律，同時繼續我們的戰略投資以推動增長。

We generated $440 million of operating income, translating into an operating margin of 37.6%, a 510 basis points improvement over Q2 of last year.

我們創造了 4.4 億美元的營業收入，轉化為 37.6% 的營業利潤率，比去年第二季度提高了 510 個基點。

Other income was $1 million, and our effective tax rate was 10.5%, resulting in net income of $395 million or a net income margin of 33.7%.

其他收入為 100 萬美元，我們的有效稅率為 10.5%，淨收入為 3.95 億美元，淨利潤率為 33.7%。

Execution on both gross and operating margins drove record Q2 diluted earnings per share of $2.37, beating the guidance by $0.03 and an increase of 77% when compared to fiscal Q2 of 2020.

毛利率和營業利潤率的執行推動第二季度攤薄後每股收益達到創紀錄的 2.37 美元，比預期高出 0.03 美元，與 2020 財年第二季度相比增長 77%。

Turning to the balance sheet and cash flow.

轉向資產負債表和現金流。

Second fiscal quarter cash flow from operations was $616 million, a quarterly record for Skyworks.

第二財季運營現金流為 6.16 億美元，創下 Skyworks 的季度記錄。

Capital expenditures were $141 million, resulting in a record $475 million of free cash flow, translating into a strong free cash flow margin of 41%.

資本支出為 1.41 億美元，產生了創紀錄的 4.75 億美元的自由現金流，轉化為 41% 的強勁自由現金流利潤率。

We paid $83 million in dividends.

我們支付了 8300 萬美元的股息。

And given the recently announced acquisition of the infrastructure and automotive business of Silicon Labs, which we expect to close in the September quarter, we have temporarily suspended our share repurchase program.

鑑於最近宣布收購 Silicon Labs 的基礎設施和汽車業務，我們預計將在 9 月季度完成收購，因此我們暫時暫停了股票回購計劃。

Now let's move on to our outlook for Q3 of fiscal 2021.

現在讓我們繼續我們對 2021 財年第三季度的展望。

Based on robust demand for connectivity solutions in mobile and broad markets, we expect continued momentum and year-over-year growth in the June quarter.

基於移動和廣泛市場對連接解決方案的強勁需求，我們預計 6 月季度將繼續保持增長勢頭和同比增長。

Specifically, in the third fiscal quarter of 2021, we anticipate revenue to be between $1.075 billion and $1.125 billion with non-GAAP diluted earnings per share of $2.13 at the midpoint of our revenue range.

具體而言，在 2021 年第三財季，我們預計收入將在 10.75 億美元至 11.25 億美元之間，非公認會計原則攤薄後每股收益為 2.13 美元，處於我們收入範圍的中點。

This translates into year-over-year revenue growth of 49% at the midpoint of the revenue range and year-over-year non-GAAP diluted earnings per share growth of 70%.

這意味著在收入範圍的中點，收入同比增長 49%，非公認會計原則攤薄後每股收益同比增長 70%。

Gross margin is projected to be in the range of 50.25% to 50.75%.

毛利率預計在 50.25% 至 50.75% 之間。

We expect operating expenses to be between $159 million and $161 million.

我們預計運營費用將在 1.59 億美元至 1.61 億美元之間。

Below the line, we anticipate roughly $1.5 million in other income and a tax rate of approximately 10.5%.

在這條線以下，我們預計其他收入約為 150 萬美元，稅率約為 10.5%。

We expect our diluted share count to be approximately 167 million shares.

我們預計我們的稀釋股數約為 1.67 億股。

And with that, I'll turn the call back over to Liam.

有了這個，我會把電話轉回給利亞姆。

Thanks, Kris.

謝謝，克里斯。

Skyworks is on track to deliver record results for fiscal 2021, clearly demonstrating the value of our technologies as we address an increasingly broader landscape of impactful customers and applications.

Skyworks 有望在 2021 財年實現創紀錄的業績，這清楚地展示了我們技術的價值，因為我們正在應對越來越廣泛的有影響力的客戶和應用程序。

Further, the pending acquisition of the I&A business fits squarely with our strategic priorities to expand our market reach, accelerate revenue diversification and drive industry-leading profitability and cash flow.

此外，即將收購的 I&A 業務完全符合我們擴大市場範圍、加速收入多元化和推動行業領先的盈利能力和現金流的戰略重點。

In parallel, Skyworks is solidifying its global leadership, technology breadth and vast operational scale, powering the connected experience in mobile, industrial, automotive, enterprise and other emerging applications.

與此同時，Skyworks 正在鞏固其全球領先地位、技術廣度和龐大的運營規模，為移動、工業、汽車、企業和其他新興應用領域的互聯體驗提供支持。

That concludes our prepared remarks.

我們準備好的發言到此結束。

Operator, we can open the line to questions.

接線員，我們可以開線提問。

(Operator Instructions) And your first question comes from the line of Karl Ackerman from Cowen and Company.

（操作員說明）您的第一個問題來自 Cowen and Company 的 Karl Ackerman。

I -- if I could, one of your RF peers who reported last evening spoke about new content wins across the Android supply chain with its integrated modem.

我——如果可以的話，你昨晚報導的一位 RF 同行談到了通過集成調製解調器在 Android 供應鏈中贏得新內容。

And as a result, I think some investors have concluded what's good for them is perhaps bad for you in terms of your opportunity in certain areas of the RF supply chain.

因此，我認為一些投資者已經得出結論，就您在射頻供應鏈某些領域的機會而言，對他們有利的可能對您不利。

And so I know you're probably limited in discussing specific OEM wins, but I was hoping you could discuss your conviction in RF content gains across the mobile market.

因此，我知道您在討論特定的 OEM 獲勝方面可能有限，但我希望您能討論您對整個移動市場 RF 內容收益的信念。

That would be helpful as we think about your -- the growth trajectory beyond the June quarter?

當我們考慮您的 - 六月季度之後的增長軌跡時，這會有所幫助嗎？

Sure.

當然。

Good question.

好問題。

Well, we are very bullish about our outlook in RF and other elements in our portfolio.

好吧，我們非常看好我們投資組合中射頻和其他元素的前景。

You can see the results that we just reported are very, very strong, substantial double-digit returns and compares across the space.

您可以看到我們剛剛報告的結果是非常非常強勁的兩位數回報，並在整個領域進行了比較。

We have an incredible view going forward.

我們有一個令人難以置信的前景。

We have a rich set of technologies that we continue to grow.

我們擁有一系列不斷發展的豐富技術。

We're expanding the aperture of the componentry that we put in with these devices.

我們正在擴大我們與這些設備一起放入的組件的孔徑。

We're leveraging our integrated solution, Sky5, that brings in filtering, bulk acoustic wave, core gallium arsenide and other elements to provide a turnkey solution for our customers.

我們正在利用我們的集成解決方案 Sky5，它引入了濾波、體聲波、核心砷化鎵和其他元素，為我們的客戶提供交鑰匙解決方案。

And we've been doing this for years.

多年來，我們一直在這樣做。

This is not new.

這並不新鮮。

What is new is the outlook that we have when we start to see 5G really pick up, the complexities in 5G and having a full system solution as we have at Skyworks to put our customers in place to win.

新的是當我們開始看到 5G 真正回升時的前景、5G 的複雜性以及我們在 Skyworks 擁有的完整系統解決方案，以便讓我們的客戶就位以贏得勝利。

So we feel really good about it.

所以我們對此感覺非常好。

We always have competition.

我們總是有競爭。

There's no change there at all.

那裡根本沒有變化。

But if you look at how we play and how we work with our customers and the technologies that we deliver in the ways that our customers want to consume it, it's a recipe that works.

但是，如果您看看我們的遊戲方式以及我們如何與客戶合作，以及我們以客戶希望消費的方式提供的技術，這是一個行之有效的秘訣。

Yes.

是的。

No, I appreciate that.

不，我很感激。

If I may, in broad markets, very, very strong results.

如果可以的話，在廣闊的市場上，結果非常非常強勁。

But with results this strong, the elephant in the room is about sustainability.

但由於結果如此強勁，房間裡的大像是關於可持續性的。

And some semis across the supply chain have spoken about some modest inventory restocking at non distribution channels addressing consumer electronics.

供應鏈中的一些半成品已經談到在非分銷渠道針對消費電子產品進行了一些適度的庫存補貨。

And so perhaps you could discuss your lead times here and what proactive measures you may be taking that could limit any double ordering for your Wi-Fi and auto solutions?

因此，也許您可以在這裡討論您的交貨時間以及您可能採取的哪些主動措施可以限制您的 Wi-Fi 和汽車解決方案的任何重複訂購？

Sure.

當然。

We have a very close look at the pipeline and the supply chain, of course.

當然，我們對管道和供應鏈進行了非常仔細的研究。

So one of the things that I'm sure you know about Skyworks is that we're vertically integrated.

所以我相信你對 Skyworks 了解的一件事是我們是垂直整合的。

So we're building product in our own factory.

所以我們在自己的工廠裡製造產品。

We're customizing in our own factory from filter to gallium arsenide to packaging and test, all of that is done in-house.

我們在我們自己的工廠進行定制，從過濾器到砷化鎵再到封裝和測試，所有這些都是在內部完成的。

So there's 2 things there.

所以那裡有兩件事。

Number one, it mitigates, substantially mitigate some of the risks that we're seeing with the overall chip supply chain constraints.

第一，它減輕了，大大減輕了我們在整體芯片供應鏈限制中看到的一些風險。

There's still some, but we're going to fare much better than others.

還有一些，但我們會比其他人做得更好。

But on the other hand, we are very close to our customers the channel.

但另一方面，我們非常接近客戶的渠道。

We try to keep that as lean as possible, so we get the real demand and natural demand, and that's the way we want it.

我們盡量保持精簡，這樣我們就能得到真正的需求和自然需求，這就是我們想要的方式。

The diversity in broad markets, though, is a theme that we should think about here because we really are expanding the aperture.

然而，廣闊市場的多樣性是我們應該在這裡考慮的一個主題，因為我們確實在擴大範圍。

It's multiple technologies, whether it's Wi-Fi or Wi-Fi 6 or Bluetooth or GPS.

它涉及多種技術，無論是 Wi-Fi 或 Wi-Fi 6 還是藍牙或 GPS。

But then there's a broadening set of customers that have stepped up and joined the Skyworks design win team.

但隨後有越來越多的客戶加入了 Skyworks 設計獲勝團隊。

So there's a lot of diversity within the broad market portfolio, but there's also a lot of technology differentiation that allows us to gain share.

因此，在廣泛的市場組合中有很多多樣性，但也有很多技術差異化讓我們能夠獲得份額。

And we're looking forward to continuing to put up above market results in that category.

我們期待繼續在該類別中提供高於市場的結果。

Our next question comes from the line of Blayne Curtis from Barclays.

我們的下一個問題來自巴克萊銀行的 Blayne Curtis。

I just wanted to ask on gross margins.

我只是想問問毛利率。

And then as part of this, I know you were catching up in March after a very strong December, particularly for 1 customer.

然後作為其中的一部分，我知道您在經歷了一個非常強勁的 12 月之後在 3 月迎頭趕上，尤其是對於一位客戶而言。

So maybe related.

所以也許有關係。

But kind of 2 parts there.

但是那裡有兩部分。

Just how are you in the process of catching up?

你在追趕的過程中怎麼樣？

And then if you just comment on the gross margin, it is down a bit in June.

然後，如果你只評論毛利率，它在 6 月份略有下降。

Obviously, revenue is at 50%, have been kind of this 50% and change range for a while.

顯然，收入是 50%，一直是這個 50%，並且變化範圍已經有一段時間了。

What's the drivers for the margin to be down in June?

6 月利潤率下降的驅動因素是什麼？

Yes.

是的。

Blayne, I'll maybe start with the gross margin question.

Blayne，我可能會從毛利率問題開始。

First of all, I was pleased with our actual results at 50.8% in fiscal Q2, up 60 basis points on a year-over-year despite a somewhat challenging and tight supply chain environment, as you're well aware.

首先，我對我們在第二財季 50.8% 的實際結果感到滿意，儘管供應鏈環境有些挑戰和緊張，但同比增長 60 個基點，正如您所知道的那樣。

We are guiding here 50.5% at the midpoint for fiscal Q3, which is up 40 basis points year-over-year.

我們在第三財季的中點指導為 50.5%，同比增長 40 個基點。

It's slightly down from Q2 on slightly lower revenue as we are going into our slowest seasonal quarter of the year.

由於我們正在進入今年最慢的季節性季度，因此收入略低於第二季度。

But we do, of course, expect further gross margins improvement in the second half of the year as we start ramping, as we usually do in the September and the December quarter.

但是，我們確實預計下半年毛利率會隨著我們開始增長而進一步提高，就像我們通常在 9 月和 12 月季度所做的那樣。

And then maybe just the first part of the question, just catching up on the customers.

然後也許只是問題的第一部分，只是趕上客戶。

Just any additional color as to how you are in that process into June?

關於您在 6 月份的過程中的情況，還有什麼其他的顏色嗎？

Yes.

是的。

No.

不。

I mean, this is an environment where there is very strong demand across the board.

我的意思是，這是一個全面需求非常強勁的環境。

And as Liam pointed out here as well, we've done really well meeting that demand despite the tight supply environment.

正如利亞姆在這裡指出的那樣，儘管供應環境緊張，但我們在滿足需求方面做得非常好。

We control that through our own factories.

我們通過我們自己的工廠來控制它。

We've been putting in a lot of capacity proactively because we knew that this big strong cycle with 50% year-over-year growth was coming towards us as we're moving into 5G.

我們一直在積極投入大量容量，因為我們知道隨著我們進入 5G，這個年增長率為 50% 的強勁週期正在向我們走來。

And so we've been executing well.

所以我們一直執行得很好。

Now we do buy some stuff from third parties, and that's a little bit tight.

現在我們確實從第三方購買了一些東西，這有點緊張。

But given the size and scale that Skyworks have and the strong team that we have, we've been executing pretty well there.

但鑑於 Skyworks 的規模和規模以及我們擁有的強大團隊，我們在那裡的執行情況非常好。

Your next question comes from the line of Chris Caso from Raymond James.

您的下一個問題來自 Raymond James 的 Chris Caso。

Yes.

是的。

First question is with regard to the China OEM business.

第一個問題是關於中國 OEM 業務。

Could you describe what's going on there?

你能描述一下那裡發生了什麼嗎？

We heard MediaTek report earlier this week.

本週早些時候我們聽到了聯發科的報導。

It was a really strong first half.

這是一個非常強大的上半場。

Their guidance seems to suggest some flattening out into the second half.

他們的指導似乎暗示下半場會有所放緩。

How is that going for your business?

這對您的業務有何影響？

Sure, Chris.

當然，克里斯。

Well, obviously, the China market is very important to the overall ecosystem, and we are doing very well in that space.

嗯，很明顯，中國市場對整個生態系統非常重要，我們在這個領域做得很好。

Again, players like Oppo, Vivo, Xiaomi, and then MediaTek, a whole another angle, which we've been working with MediaTek for years, a very strong baseband provider, and we have unique technologies that wrap around their core baseband, and we've been doing that for quite a while.

再說一次，像 Oppo、Vivo、小米和聯發科這樣的玩家，完全是另一個角度，我們多年來一直與聯發科合作，這是一家非常強大的基帶供應商，我們擁有圍繞他們核心基帶的獨特技術，我們這樣做已經有一段時間了。

So we still feel very good about China.

所以我們還是對中國感覺很好。

It has lifted off first in the 5G landscape.

它在 5G 領域率先起飛。

Of course, there's a tremendous amount of opportunity between now and the next 4 or 5 years or more as we populate and drive up subscriptions in 5G.

當然，從現在到未來 4 年或 5 年或更長時間，隨著 5G 用戶數量的增加和訂閱量的增加，存在大量機會。

But with the MediaTek side, we're gaining market share at MediaTek, and their platform is getting stronger.

但是在聯發科方面，我們在聯發科獲得了市場份額，他們的平台越來越強大。

It's more powerful, more potent.

它更強大，更強大。

And it is one of the leading platforms when we look at APAC.

當我們審視亞太地區時，它是領先的平台之一。

And again, populating some of these brands and also hitting some new markets as well.

再次，填充其中一些品牌並進入一些新市場。

So the MediaTek relationship we have is outstanding.

所以我們的聯發科關係非常出色。

It's a technically driven relationship.

這是一種技術驅動的關係。

We know the company.

我們知道這家公司。

We've been working with them for years.

我們多年來一直與他們合作。

And those solutions often portfolio out in the Android ecosystem with the names that we mentioned, the OVX, et cetera.

這些解決方案通常以我們提到的 OVX 等名稱在 Android 生態系統中進行組合。

So we've got a very good handle on that.

所以我們對此有很好的處理。

And the other thing, Chris, here is that these customers really like the fact that we grow our own technologies, develop our own packaging and tests can get very, very flexible, can integrate in a Sky5 solution that makes it very easy for them to go to market.

克里斯，另一件事是，這些客戶真的很喜歡這樣一個事實，即我們發展自己的技術，開發自己的封裝和測試可以變得非常非常靈活，可以集成到 Sky5 解決方案中，這讓他們很容易去市場。

So there's some unique elements in the Skyworks strategy that go beyond just kind of the parts, right?

所以 Skyworks 戰略中有一些獨特的元素超越了某些部分，對嗎？

So that's always been a key play for us.

所以這一直是我們的關鍵。

And players like MediaTek, that's an ideal solution for them.

而像聯發科這樣的玩家，這對他們來說是一個理想的解決方案。

As a follow-up, my follow-up question is on OpEx.

作為後續，我的後續問題是關於 OpEx。

And it's up moderately on a year-on-year basis, but obviously, up a lot less than the revenue growth rate.

同比增長溫和，但顯然遠低於收入增長率。

And not necessarily talking for the short term, but over the next couple of years, what's the plan on OpEx?

不一定是短期的，但在接下來的幾年裡，OpEx 的計劃是什麼？

Do you invest some of the cash flow that you're getting now from a substantially higher rate?

你是否投資了你現在從更高的利率中獲得的一些現金流？

Is this OpEx level that you're at right now, sufficient enough to kind of drive the sort of growth that you guys want to see?

你們現在所處的 OpEx 水平是否足以推動你們希望看到的那種增長？

Yes, Chris.

是的，克里斯。

I mean, we've been talking about that a lot.

我的意思是，我們一直在談論這個問題。

We will continue to invest in our business.

我們將繼續投資於我們的業務。

And we are a technology leader.

我們是技術領導者。

We want to continue to expand our reach into that very rich ecosystem, and we are not hesitating there.

我們希望繼續將我們的影響力擴展到這個非常豐富的生態系統，我們並沒有猶豫。

So at the flip side, of course, we are very efficient in how we do it and what we do, right?

所以另一方面，當然，我們在如何做和做什麼方面非常有效率，對吧？

Our total OpEx is running on or about 13% to revenue.

我們的總運營支出佔收入的 13% 左右。

That's an area, a zip code where we want to keep it.

那是一個區域，一個我們想要保留它的郵政編碼。

Obviously, there are -- if you look at it, during the year, there are seasonal swings as the revenue goes up and down, but longer-term in that somewhat like 13% of revenue, that's a good place to be.

顯然，如果你看一下，在這一年中，隨著收入的上升和下降，會有季節性波動，但從長期來看，這有點像收入的 13%，這是一個好地方。

Yes.

是的。

And I'll just to add to that, remember, the leverage that we have in our business.

我只想補充一點，記住，我們在業務中擁有的影響力。

I mean, we are a company that we're driving the broad market portfolio with big dollars in a mobile portfolio.

我的意思是，我們是一家在移動投資組合中投入大量資金推動廣泛市場投資組合的公司。

So our business is very much focused on that execution, and our design teams know how to develop products that have an incredible market reach.

因此，我們的業務非常專注於執行，我們的設計團隊知道如何開發具有令人難以置信的市場影響力的產品。

So that's the thesis behind that.

這就是背後的論點。

And certainly, we're funding R&D to the level that it needs to be funded.

當然，我們正在為研發提供所需資金的水平。

We know exactly where we're headed there.

我們確切地知道我們要去哪裡。

And we're investing in aggressively technology investments in our fabs, in our packaging houses and really just the platform that we have in Sky5 as we move forward.

我們正在積極投資於我們的晶圓廠、我們的封裝廠以及我們在前進的 Sky5 中擁有的平台的技術投資。

So all that kind of weaves together.

所以所有這些都交織在一起。

And you get leverage because these are really strong markets that have a pretty potent unit curve on them as well.

你會得到槓桿，因為這些市場真的很強大，它們也有非常強大的單位曲線。

So part of the strategy is to really drive a solution that can then spin-off derivatives, but still have that same core.

因此，戰略的一部分是真正推動一種解決方案，該解決方案可以衍生衍生產品，但仍具有相同的核心。

So that's a unique element of Skyworks.

這是 Skyworks 的獨特元素。

And as Kris said, having your own fab, having your own manufacturing, assembly and test, all of that under multiple roofs, but our own roofs makes a big difference for us.

正如 Kris 所說，擁有自己的工廠，擁有自己的製造、組裝和測試，所有這些都在多個屋簷下進行，但我們自己的屋簷對我們來說有很大的不同。

Your next question comes from the line of Gary Mobley from Wells Fargo Securities.

您的下一個問題來自 Wells Fargo Securities 的 Gary Mobley。

I had a multi-part question to start out with.

我有一個多部分的問題要開始。

I think when you started the fiscal year, you had a pretty optimistic view on your mobile-related revenue tied to the non iOS community.

我認為當您開始本財年時，您對與非 iOS 社區相關的移動相關收入持相當樂觀的看法。

And my question to you is are you at a point in the year now that we're in somewhat of a lull that you're able to service those android smartphone customers to the fullest extent or are you really are perhaps being overextended by trying to service your largest customer?

我問你的問題是，你是在今年的某個時間點，現在我們處於某種平靜狀態，你能夠最大限度地為那些安卓智能手機客戶提供服務，還是你真的可能因為試圖過度擴張而過度擴張服務您最大的客戶？

Yes, that's a great question.

是的，這是一個很好的問題。

And I'll tell you, the Android ecosystem right now is really strong, and we're putting up excellent numbers in that part of the landscape.

我會告訴你，現在的 Android 生態系統非常強大，我們在這部分領域提供了出色的數據。

So there's no law.

所以沒有法律。

There was some supply chain hiccups here and there, but we're still executing to a very aggressive path.

這里和那裡都有一些供應鏈打嗝，但我們仍在執行非常積極的道路。

We've got the demand.

我們有需求。

We have the technology that's needed.

我們擁有所需的技術。

And we're doing that with -- in parallel with great outcomes with our largest customer.

我們正在這樣做——與我們最大的客戶取得巨大成果的同時。

So that's definitely moving in the right direction, and it's for the reasons we talked about.

所以這肯定是朝著正確的方向發展，這就是我們談到的原因。

We have a great 5G multiyear, and I mean, really multiyear opportunity here for us and others.

我們有一個很棒的 5G 多年，我的意思是，對於我們和其他人來說，這真的是多年的機會。

And we have a technology curve that we talked about in the prepared remarks.

我們在準備好的評論中談到了一條技術曲線。

Stuff is getting -- this is really challenging stuff now.

東西越來越多——現在這真的是很有挑戰性的東西。

And companies that have invested in R&D, invested in their fabs and work closely with their customers are going to be the winners.

投資研發、投資晶圓廠並與客戶密切合作的公司將成為贏家。

And we're going to be at the top of that list.

我們將在該列表中名列前茅。

So we feel really good about that.

所以我們對此感覺非常好。

And it's absolutely our mission to deliver across all the different segments in mobility.

我們的使命是為移動領域的所有不同領域提供服務。

Appreciate the color, Liam.

欣賞顏色，利亞姆。

And as my follow-up, and I don't want to nitpick here.

作為我的後續行動，我不想在這裡吹毛求疵。

You guys have been producing great results.

你們已經取得了很好的成果。

But your -- you had a higher mix of broad markets revenue in the March quarter.

但是您的 - 您在 3 月季度的廣泛市場收入組合更高。

And I think it was pretty substantial mix upside for that particular business unit.

而且我認為對於那個特定的業務部門來說，這是相當大的組合優勢。

And so my question is, why were you guys not able to deliver more upside to the gross margin, just given that higher-than-expected mix of broad markets?

所以我的問題是，為什麼你們不能為毛利率帶來更多的上升空間，只是考慮到廣泛的市場組合高於預期？

Yes.

是的。

So the broad market mix in the quarter came in, in line with expectations.

因此，本季度的廣泛市場組合符合預期。

So there was no surprise there.

所以那裡沒有驚喜。

I mean, we did $22 million better than what we guided, but that was somewhat across our full revenue portfolio.

我的意思是，我們的業績比我們指導的要好 2200 萬美元，但這在我們的全部收入組合中有所體現。

So there was no change there.

所以那裡沒有變化。

And again, from a gross margin, we were up 60 basis points year-over-year despite a challenging supply chain environment, right?

再一次，儘管供應鏈環境充滿挑戰，我們的毛利率仍同比增長 60 個基點，對吧？

There are some increased input costs that needs to be absorbed.

有一些增加的投入成本需要吸收。

And despite all of that, we continue to demonstrate year-over-year gross margin improvements.

儘管如此，我們繼續展示毛利率同比增長。

Our next question comes from the line of Ambrish Srivastava from BMO Capital Markets.

我們的下一個問題來自 BMO Capital Markets 的 Ambrish Srivastava。

Kris, on the margin front, when should we expect the input cost increase that resulted due to COVID?

Kris，在利潤率方面，我們應該在什麼時候預計由於 COVID 導致的投入成本增加？

And then I have a follow-up after that, please.

然後我有一個跟進，請。

I mean, there are already input costs, right?

我的意思是，已經有投入成本了，對吧？

This is not new.

這並不新鮮。

The tightness in the supply chain has been there now for several months.

供應鏈的緊張已經持續了幾個月。

And so it's there.

所以它就在那裡。

Of course, again, we're working it really hard.

當然，再一次，我們正在努力工作。

We have long-term relationships with our suppliers.

我們與供應商建立了長期合作關係。

We have the size and scale there as well.

我們在那裡也有規模和規模。

And again, the team is working it really hard.

再一次，團隊正在努力工作。

And I think we'll definitely see some improvements there going into the second half of the calendar year.

而且我認為我們肯定會在日曆年的下半年看到一些改進。

Okay.

好的。

And with respect to second half calendar year, Liam, maybe a question for you.

關於下半年日曆年，利亞姆，也許是一個問題。

There's no such thing as normal seasonality.

沒有正常的季節性。

But given everything that's going on in the supply chain, what's the best way you could describe for us to -- in terms of expectations for the second half the calendar year that we should expect versus what a normal seasonal year would be?

但是，考慮到供應鏈中正在發生的一切，您可以為我們描述的最佳方式是什麼——就我們應該預期的日曆年下半年的預期與正常的季節性年份的預期而言？

Yes.

是的。

Sure.

當然。

I mean, we absolutely expect to grow in the second half.

我的意思是，我們絕對希望在下半年增長。

There's a lot of opportunity out there, it's still very early in 5G.

那裡有很多機會，但在 5G 中仍處於早期階段。

The broad market print that we put out, what really matters there, I can't show this to you in the conference call, but if you saw the breadth of customers, the breadth of customers, number one, really, really stepped up.

我們發布的廣闊市場印刷品，那裡真正重要的東西，我不能在電話會議上向你展示，但如果你看到客戶的廣度，客戶的廣度，第一，真的，真的加強了。

And then the diversity of the technologies that those customers consumed was also a really incredible opportunity for us to be realized.

然後，這些客戶所使用的技術的多樣性對於我們來說也是一個真正令人難以置信的實現機會。

So that's the important thing.

所以這很重要。

And then you go to the strength in mobility, which will come in the second half.

然後你會談到機動性的力量，這將在下半場出現。

We know what we've won.

我們知道我們贏得了什麼。

There are a lot of really difficult, challenging opportunities that we've been able to win.

我們已經能夠贏得很多非常困難、具有挑戰性的機會。

And that should be apparent here in the second half.

這在下半場應該很明顯。

So there's some stuff happening right now that we're not going to cover the ball off in broad markets, lot of diversity with customers, diversity and the technologies we bring.

所以現在發生了一些事情，我們不會在廣闊的市場中掩蓋球，客戶的多樣性，多樣性和我們帶來的技術。

And then in core mobility, the second half of the year, we think, will be strong.

然後在核心流動性方面，我們認為下半年會很強勁。

And we know what we've wanted.

我們知道我們想要什麼。

We know what we've consummated in the key designs, and it's all good on that front.

我們知道我們在關鍵設計中已經完成了什麼，並且在這方面一切都很好。

Your next question comes from the line of Timothy Arcuri from UBS.

您的下一個問題來自瑞銀的 Timothy Arcuri。

Kris, I think your largest customer last quarter, you said was 70% of revenue.

克里斯，我認為你上個季度最大的客戶，你說的是收入的 70%。

Obviously, it was down this quarter, but can you give us a sense of maybe how large it was in March?

顯然，本季度有所下降，但您能否讓我們了解一下 3 月份的規模有多大？

The largest customer?

最大的客戶？

Yes, correct.

是，對的。

It was approximately 50% of total revenue.

這大約佔總收入的 50%。

50%.

50%。

Okay, awesome.

不錯，厲害

And then I guess, a question on what's assumed in the mix for the June guidance.

然後我想，關於 6 月指導的混合假設的問題。

Typically, broad markets are sort of -- I mean, there's not really that strong seasonality in broad markets.

通常，廣泛的市場有點——我的意思是，在廣泛的市場中並沒有那麼強烈的季節性。

But usually, it's up about 10% sequentially in June.

但通常情況下，它在 6 月份環比上漲約 10%。

Is that about the right assumption for broad markets and that we can net out mobile to get the mix for June?

這是否是關於廣泛市場的正確假設，並且我們可以在 6 月份剔除移動設備以獲取組合？

Right.

正確的。

Also, on total company, we guided June down 6%.

此外，就公司總數而言，我們指導 6 月份下跌 6%。

And so when you look at mobile and broad markets, broad markets is going to be flat to slightly down.

因此，當您查看移動市場和大盤時，大盤將持平或略微下跌。

And then, of course, on the flip side, you have the mobile business.

當然，另一方面，你有移動業務。

Yes.

是的。

And you have a year-over-year number that is 60% year-over-year in Q3.

而且你有一個同比數字，在第三季度同比增長 60%。

Right.

正確的。

So total business is up 49%, 50% on or about.

因此，總業務增長了 49%、50% 左右。

And so broad markets there continues to do really well, up more than 50%, closer to 60% on a year-over-year basis.

因此，那裡的廣泛市場繼續表現良好，同比增長超過 50%，接近 60%。

Your next question comes from the line of Harsh Kumar from Piper Sandler.

您的下一個問題來自 Piper Sandler 的 Harsh Kumar。

Sticking to that theme of broad markets.

堅持廣闊市場的主題。

Could you maybe help us understand where that strength that you saw, that incremental strength in broad markets, where did it come from?

您能否幫助我們了解您所看到的優勢在哪裡，在廣闊市場中的增量優勢是從哪裡來的？

I know you mentioned it was broad, but was it leaning towards any one particular technology or end market?

我知道你提到它很廣泛，但它是否傾向於任何一種特定的技術或終端市場？

Yes, it was quite diverse, Harsh.

是的，它非常多樣化，Harsh。

But I would say unique strength in higher-end Wi-Fi, Wi-Fi 6 and 6E.

但我想說的是高端 Wi-Fi、Wi-Fi 6 和 6E 的獨特優勢。

A lot of connected home applications that we consummated, wireless infrastructure has picked up a bit, Nokia and Ericsson.

我們完善了許多聯網家庭應用程序，無線基礎設施有所提升，諾基亞和愛立信。

We mentioned them in the prepared remarks and starting to do a little bit more with automotive as well.

我們在準備好的評論中提到了它們，並開始在汽車方面做更多的事情。

So it was a great quarter in broad markets.

因此，在廣闊的市場中，這是一個很棒的季度。

It's the type of output that we're capable of doing consistently and growing consistently.

這是我們能夠持續進行並持續增長的輸出類型。

As I said earlier in the call, the diversity of the customers was really unique for us.

正如我之前在電話會議中所說，客戶的多樣性對我們來說確實是獨一無二的。

So more and more companies that had not been customers of Skyworks are now customers of Skyworks.

因此，越來越多以前不是 Skyworks 客戶的公司現在成為了 Skyworks 的客戶。

And we love to see that.

我們喜歡看到這一點。

And once we establish a beachhead with some of these players, we can do a lot more.

一旦我們與其中一些玩家建立灘頭陣地，我們就可以做更多的事情。

So you heard today, names like Microsoft, names like Sony, names like GM and OnStar and moving into industrial markets.

所以你今天聽到了像微軟這樣的名字，像索尼這樣的名字，像通用汽車和安吉星這樣的名字，並且正在進入工業市場。

That's all coming together.

這一切都走到了一起。

And the nice thing is it's using the kind of the needs -- and it needs the technology that we have, and we have it ready for them.

好消息是它使用了這種需求——它需要我們擁有的技術，我們已經為他們準備好了。

So it isn't a case where we have to spin up something unique.

所以這不是我們必須旋轉一些獨特的東西的情況。

By and large, the technologies that we have now are ready to go.

總的來說，我們現在擁有的技術已經準備就緒。

So we're able to deliver those solutions in Wi-Fi, deliver those solutions in a cellular format, whether it's 5G or otherwise.

因此，我們能夠在 Wi-Fi 中提供這些解決方案，以蜂窩格式提供這些解決方案，無論是 5G 還是其他方式。

We have the technology protocols to address what the customers want.

我們擁有滿足客戶需求的技術協議。

So -- and we'll continue to do that.

所以 - 我們將繼續這樣做。

I think some of the impacts that we've seen with the COVID crisis is that the ability to be flexible and adapt, and we've seen this usage case change where we have customers that were not interested in some of the things that we did or didn't have a need for it.

我認為我們在 COVID 危機中看到的一些影響是靈活和適應的能力，我們已經看到這種用例發生了變化，我們的客戶對我們所做的某些事情不感興趣或者不需要它。

And now mobility and connectivity has become paramount and critical and essential.

現在，移動性和連通性已變得至關重要、至關重要和必不可少。

And that's driving our business in ways that we really didn't anticipate.

這以我們真正沒有預料到的方式推動了我們的業務。

But we understand it deeply.

但我們對此深有體會。

And as we move forward, we're going to continue to develop those customers and bring the best technologies we can to each and every one of their own applications.

隨著我們向前發展，我們將繼續開發這些客戶，並為他們自己的每一個應用程序帶來我們所能提供的最好的技術。

Liam, I wanted to -- that was very helpful, by the way.

利亞姆，我想——順便說一句，這很有幫助。

I wanted to switch to mobile and ask a longer-term type question.

我想切換到移動設備並提出一個長期類型的問題。

Since as long as I've covered you guys for the entire 4G cycle, content increases were somewhere in the, call it, 7% to 10% range consistent.

因為只要我為你們介紹了整個 4G 週期，內容增加就在某個地方，稱之為 7% 到 10% 的範圍是一致的。

And that was always the case.

情況總是如此。

How do you see that cadence for 5G?

您如何看待 5G 的節奏？

There's a lot more bands, there's a lot of stuff going on.

有更多的樂隊，有很多事情發生。

There's different frequencies being added, spectrum, C-band, et cetera.

添加了不同的頻率，頻譜、C 波段等。

Is that a number that is likely to go -- that content add number on a yearly basis, is that a number that's likely to creep up because of all that 5G brings?

這是一個可能會出現的數字嗎？內容每年都會增加一個數字，這個數字是否會因為 5G 帶來的所有東西而逐漸增加？

Yes, absolutely.

是的，一點沒錯。

And it really is -- it's necessary.

它確實是 - 這是必要的。

So if you just think about it at a high level, even the backward compatibility of the mobile phone today, you still have 4G running completely and sometimes even 3G.

所以如果你從高處考慮，即使是今天的手機向後兼容，你仍然可以完全運行4G，有時甚至可以運行3G。

So you have elements of 3G, then 4G, and then you have 5G.

所以你有3G的元素，然後是4G，然後是5G。

We're also extending the spectrum.

我們也在擴展範圍。

More typically, if you look at a 3G or 4G phone, you're somewhere between 700 meg to 1 gig.

更典型的是，如果您查看 3G 或 4G 手機，您的容量介於 700 兆到 1 千兆之間。

Now we go from 1 gig to 6 gig and even higher.

現在我們從 1 gig 到 6 gig 甚至更高。

So there's new spectrum in the 5G world.

因此，5G 世界有了新的頻譜。

There's new challenges.

有新的挑戰。

There's new technologies that need to be brought to bear.

需要採用新技術。

And then the ability to integrate that in a fungible asset, delivering that as a complete system that our customers can assimilate, that is really special.

然後能夠將其集成到可替代資產中，將其作為一個完整的系統提供給我們的客戶可以吸收，這真的很特別。

And we do that, and that's back to the comments that Kris and I made about having our own technology, having our own factories, having unique packaging, assembly and test to really customize a full solution.

我們這樣做了，這又回到了 Kris 和我關於擁有自己的技術、擁有自己的工廠、擁有獨特的包裝、組裝和測試以真正定製完整解決方案的評論。

And the complexity is going up substantially, and the complexity is what drives the content gains.

複雜性正在大幅上升，而復雜性是內容收益的驅動力。

Our next question comes from the line of Craig Hettenbach from Morgan Stanley.

我們的下一個問題來自摩根士丹利的 Craig Hettenbach。

Just going back to broad markets.

只是回到廣闊的市場。

I know for parts of that business, you've been supply chain constrained.

我知道對於該業務的某些部分，您一直受到供應鏈的限制。

Are you catching up?

你趕上了嗎？

Or are there still pockets in terms of where you're trying to kind of catch-up to demand in broad markets?

還是在您試圖追趕廣闊市場的需求方面仍有資金？

Sure, Craig.

當然，克雷格。

That is one area that we are -- we're getting there, but there's still some catch-up work to be done.

這是我們所處的一個領域——我們正在實現這一目標，但仍有一些工作要做。

Broad markets is more diverse.

廣闊的市場更加多樣化。

It's a set of customers that is 10x broader than what we have in mobile.

它的客戶群比我們在移動領域擁有的客戶群多 10 倍。

So to design specifically each one of those applications is a great opportunity we're pursuing, but there have been a few bumps in supply chain.

因此，專門設計這些應用程序中的每一個是我們正在追求的一個很好的機會，但供應鏈中存在一些障礙。

As Kris mentioned, we're faring better than most because we do have our own fabs, we have our own assembly in test.

正如 Kris 所提到的，我們的表現比大多數人都好，因為我們確實有自己的晶圓廠，我們有自己的測試組件。

We can control our destiny for the most part, but there still are a few wrinkles in supply chain that are being ironed out.

我們可以在很大程度上控制自己的命運，但供應鏈中仍有一些皺紋正在被消除。

And it does have a slight headwind on GM and cost as you -- there could be some lap in price reductions by some of our suppliers, there's logistics issues with next flight outs and things like that.

而且它確實對通用汽車和您的成本有輕微的不利影響——我們的一些供應商可能會降價，下一次航班起飛會出現物流問題等等。

So there's a couple of things that pop in that create a bit of a headwind.

所以有幾件事突然出現，造成了一點阻力。

But the broad markets business will continue to move, and I think we'll certainly see these supply chain hiccups get ironed out very quickly.

但廣闊的市場業務將繼續發展，我認為我們肯定會看到這些供應鏈問題很快得到解決。

Got it.

知道了。

And then just as a follow-up, Liam, any update on some of the BAW design activity that you're seeing?

然後，作為後續行動，Liam，你看到的一些 BAW 設計活動有什麼更新嗎？

Yes.

是的。

The BAW designs are doing great.

BAW 的設計做得很好。

You could see in the current lineup of phones today across multiple customers, our Sky5 solution is bringing in more and more bulk acoustic wave.

您可以在當今多個客戶的當前手機陣容中看到，我們的 Sky5 解決方案正在引入越來越多的體聲波。

There's also some bulk acoustic wave technologies in some of the Wi-Fi engines that we have.

在我們擁有的一些 Wi-Fi 引擎中也有一些體聲波技術。

And as we start to look out into the second half of the year, you should expect more content underpinned by our own organic BAW systems as we move forward.

隨著我們開始展望下半年，隨著我們的前進，您應該期待更多由我們自己的有機 BAW 系統支持的內容。

So we're feeling really good about it.

所以我們對此感覺非常好。

We've also made the investments in our fab technology to deliver that -- deliver those solutions.

我們還對我們的晶圓廠技術進行了投資，以提供這些解決方案。

So there's a lot of good work that's been done, and we're going to be able to reap the rewards of that as we go forward into the second half and beyond.

因此，已經完成了很多出色的工作，隨著我們進入下半場及以後，我們將能夠從中獲得回報。

Your next question comes from the line of Kevin Cassidy from Rosenblatt Securities.

您的下一個問題來自 Rosenblatt Securities 的 Kevin Cassidy。

I was just wondering if you had some visibility into infrastructure deployments maybe as you go out into the second half of the year, in particular, maybe the C-band, is that -- deployments in the antennas coming in the second half?

我只是想知道你是否對基礎設施部署有一些了解，也許當你進入下半年時，特別是 C 波段，是不是 - 天線中的部署將在下半年到來？

Yes.

是的。

And that's a great question.

這是一個很好的問題。

A couple of things.

有幾件事。

So first of all, infrastructure had been lagging a bit in this whole mobility ecosystem and specifically in 5G.

因此，首先，基礎設施在整個移動生態系統中有些滯後，特別是在 5G 中。

So as we mentioned in the call, we are starting to see more energy and rollouts with some of the key players in Europe, the Nokias and the Ericssons specifically.

因此，正如我們在電話會議中提到的那樣，我們開始看到更多的精力和與歐洲一些主要參與者的合作，特別是諾基亞和愛立信。

And we have great technology there with MIMO solutions, small cell solutions, a lot of the core recipes that we need in gallium arsenide and other places.

我們在那裡擁有出色的技術，包括 MIMO 解決方案、小型蜂窩解決方案以及我們在砷化鎵和其他地方需要的許多核心配方。

So we feel really good about it.

所以我們對此感覺非常好。

It's been slow, but it's starting to pick up.

它一直很慢，但它開始回升了。

And it's necessary as you move into 5G.

當你進入 5G 時，這是必要的。

It's necessary as we build out that spectrum.

當我們建立這個頻譜時，這是必要的。

And then as you mentioned, the C-band auction is great now because that money has been spent, and the carriers want to deploy more and more.

然後正如你所提到的，C 波段拍賣現在很棒，因為這筆錢已經花掉了，運營商想要部署更多。

They basically want to leverage that technology as quickly as possible.

他們基本上希望盡快利用該技術。

So the infrastructure is going to pop up a little bit there.

所以基礎設施會在那裡彈出一點。

And it also could add content opportunities to a core mobile device.

它還可以為核心移動設備增加內容機會。

So you have a two-pronged approach there with the infrastructure side and we have positions there.

所以你在基礎設施方面有一個雙管齊下的方法，我們在那裡有職位。

And then, of course, when we look at C-band and the unique spectrum there, there's going to be devices that we'll need to be navigating and populating that spectrum within the handset.

然後，當然，當我們查看 C 波段和那裡的獨特頻譜時，我們需要在手機中導航和填充該頻譜的設備。

So that's something that's starting -- it's been happening, but there's definitely lots of room to move on that end.

這就是開始的事情——它一直在發生，但在這方面肯定有很大的發展空間。

Okay.

好的。

Great.

偉大的。

And just for your CapEx spending, can you say, is there anything new in what you're spending it on?

僅就您的資本支出而言，您能說一下您的支出有什麼新的嗎？

Or is it mostly just capacity expansion?

還是主要只是產能擴張？

So the -- our CapEx, there's 2 main drivers there, of course.

所以——我們的資本支出，當然有兩個主要驅動因素。

One is just expanding the capacity as the business is growing at 50% year-over-year right now.

一個只是擴大產能，因為該業務目前正以 50% 的年增長率增長。

And so we definitely need to support that.

所以我們絕對需要支持這一點。

But in addition to that, there is a big part of the CapEx that is technology related, making the investments in our gallium arsenide power amplifier fabs, making the investments in our filter operation.

但除此之外，還有很大一部分資本支出與技術相關，投資於我們的砷化鎵功率放大器工廠，投資於我們的濾波器運營。

TC-SAW.

TC-SAW。

And as Liam talked about, the bulk acoustic wave also in our back-end operation with more complex, higher performance packaging technologies.

正如利亞姆所說，體聲波還在我們的後端操作中使用了更複雜、性能更高的封裝技術。

And so that is really driving a differentiated product offering.

因此，這確實推動了差異化的產品供應。

That's why we win in the marketplace and -- but we have to support that, of course, with putting up the CapEx dollars in our own fabs.

這就是我們在市場上獲勝的原因，而且——當然，我們必須支持這一點，將資本支出資金投入我們自己的晶圓廠。

Your next question comes from the line of Harrison Barrett from Arete Research.

您的下一個問題來自 Arete Research 的 Harrison Barrett。

Could we get some color on your share into the China OEMs?

我們能否對您在中國 OEM 中的份額有所了解？

Is there an RF product area where you're seeing particular traction?

是否有一個 RF 產品領域您看到了特別的吸引力？

Or are you tending to see a broad mix across your addressable content?

或者您是否傾向於在您的可尋址內容中看到廣泛的組合？

Yes.

是的。

I mean, the demands in APAC have been very solid and very strong.

我的意思是，亞太地區的需求非常穩固和強烈。

And oftentimes, we have customers that were 3G, 4G and the lift into 5G is actually quite substantial, some of the comments I just made with the last caller.

通常，我們有 3G、4G 的客戶，而 5G 的提昇實際上是相當可觀的，我剛剛對上一個來電者發表了一些評論。

There's unique technologies that are required in 5G that were not in a 4G phone.

5G 所需的獨特技術是 4G 手機所不具備的。

So we're seeing a lot of that pickup.

所以我們看到了很多這樣的回升。

So beachheads with accounts we're in, that have been strong in 3G and 4G now need to augment and extend their content to be a player in 5G.

因此，擁有我們在 3G 和 4G 中表現強勁的帳戶的灘頭陣地現在需要擴充和擴展其內容以成為 5G 的參與者。

So we're starting to see that happening.

所以我們開始看到這種情況發生。

It's been building up.

它一直在建立。

China has a long way to go to really match some of the premium brands that we see in the U.S. and some other countries, but there's a lot of opportunity to grow that technology and grow the business there.

中國要真正匹配我們在美國和其他一些國家看到的一些高端品牌還有很長的路要走，但有很多機會來發展這項技術並在那裡發展業務。

It's also a market that really does value connectivity and mobility.

這也是一個真正重視連通性和移動性的市場。

It's a core and essential element within that marketplace and in that region.

它是該市場和該地區的核心和基本要素。

And we differentiate with our ability to offer that complete Sky5 solution and really remove some of the complexity that our customers may have when they're launching new technologies.

我們通過提供完整的 Sky5 解決方案的能力脫穎而出，真正消除了客戶在推出新技術時可能遇到的一些複雜性。

Great.

偉大的。

And then sort of continuing on that theme, there was a lot of commentary about millimeter wave traction in Asia.

然後繼續討論這個主題，有很多關於亞洲毫米波牽引的評論。

I think China, particularly from one of your competitors yesterday.

我認為中國，尤其是昨天來自您的競爭對手之一。

Do you have any updates on your millimeter wave road map?

您的毫米波路線圖有任何更新嗎？

Yes.

是的。

We're working on millimeter wave, but it's really kind of a narrow slice within the mobility architecture right now.

我們正在研究毫米波，但它現在確實是移動架構中的一小部分。

So there's -- we've got some work to do on the infrastructure side, but we know how to do that.

所以——我們在基礎設施方面還有一些工作要做，但我們知道如何去做。

And we've got some investments in the handheld side as well to augment.

我們還在手持方面進行了一些投資以進行擴充。

So we're continuing to drive that.

因此，我們將繼續推動這一點。

But at the same time, in the core RF, let's say, 1 gig to 6 gig, the opportunities continue to move.

但與此同時，在核心 RF 中，比如說 1 gig 到 6 gig，機會繼續移動。

And the spectrum need, it continues to be more and more complex.

而頻譜需要，它繼續變得越來越複雜。

The C-band auction that was just mentioned is a big driver.

剛才提到的C波段拍賣是一個很大的推動力。

And it's really -- that's a technology that you take anywhere.

它真的是——這是一種你可以隨身攜帶的技術。

The challenge with millimeter wave is that you have substantial current consumption needs.

毫米波的挑戰在於您有大量的電流消耗需求。

You have a physical size that is a challenge in a mobile phone.

您的物理尺寸對手機來說是一個挑戰。

And then you have point-to-point interference.

然後你有點對點的干擾。

So it's a technology that could have use in certain environments, going into stadiums or campus environments unimpeded, of course.

因此，它是一種可以在某些環境中使用的技術，當然可以暢通無阻地進入體育場或校園環境。

It works but if you look at what we can do in 5G today with the solutions that we have today and the spectrum that we have today, it's incredible.

它有效，但如果你看看我們今天在 5G 中可以用我們今天擁有的解決方案和我們今天擁有的頻譜做些什麼，那就太不可思議了。

The speeds, the performance, the latency and the ability to roam and expand that signal anywhere unimpeded.

速度、性能、延遲以及在任何地方暢通無阻地漫遊和擴展該信號的能力。

So it's going to be a challenge.

所以這將是一個挑戰。

But like anything else.

但就像其他任何事情一樣。

I mean, there's layers in the cake, right?

我的意思是，蛋糕裡有層，對吧？

There's -- you have your low band, your mid band, you're high band, you could have a unique spot at the top that delivers a millimeter wave cycle.

有 - 你有你的低頻段，你的中頻段，你是高頻段，你可以在頂部有一個獨特的位置，提供毫米波週期。

So it's all there.

所以一切都在那裡。

We understand it.

我們理解它。

We know how to navigate through it, and we know how to work with our customers to ensure that they get the best solution.

我們知道如何駕馭它，我們知道如何與客戶合作以確保他們獲得最佳解決方案。

And your final question comes from the line of Raji Gill from Needham & Company.

您的最後一個問題來自 Needham & Company 的 Raji Gill。

Great, Kris.

太好了，克里斯。

I was wondering if you could discuss the linearity in the quarter.

我想知道您是否可以討論本季度的線性度。

I think last quarter, it started a little bit slower and then accelerated significantly.

我認為上個季度，它開始有點慢，然後顯著加速。

Wondering how that shaped up this quarter.

想知道這個季度是如何形成的。

And wondering if you -- if there's any signs of pull-ins during the quarter?

並且想知道您是否 - 在本季度是否有任何拉入的跡象？

So let me first talk about the March quarter, the linearity was just perfect.

所以讓我先談談三月季度，線性度剛剛好。

It was evenly spread amongst the 3 months within the quarter.

它在本季度的 3 個月內平均分佈。

And of course, now in June, we are going through our slowest seasonal quarter, so somewhere in the middle of the quarter, you hit the bottom, and then you start ramping up towards the second half of the calendar year where, again, we're very bullish about the opportunity there to produce strong sequential growth into September and December.

當然，現在在 6 月，我們正在經歷最慢的季度，所以在季度中期的某個地方，你觸底，然後你開始向日曆年的下半年上升，我們又一次'非常看好那裡有機會在 9 月和 12 月產生強勁的連續增長。

And Liam, you mentioned your integrated modular approach, they're particularly giving you an advantage.

Liam，您提到了您的集成模塊化方法，它們特別為您提供了優勢。

I'm wondering how you would characterize the RF content gains this year versus, say, last year with kind of the first initial rollout of the 5G phones.

我想知道你將如何描述今年的射頻內容增益與去年首次推出的 5G 手機相比。

Is this integrated modular approach providing kind of more tailwinds in terms of RF content, particularly in kind of the mid-range of the market in China?

這種集成模塊化方法是否在射頻內容方面提供了更多的順風，尤其是在中國的中端市場？

Any color there in terms of how you're leveraging the integrated approach to either gain share or increase RF content?

就您如何利用集成方法來獲得份額或增加射頻內容而言，有什麼顏色嗎？

Yes.

是的。

Thank you.

謝謝你。

Great question.

好問題。

Yes, this is exactly why we developed our Sky5 solution.

是的，這正是我們開發 Sky5 解決方案的原因。

We know how hard it is to deliver a 5G socket with all the bells and whistles that can handle spectrum across the board, handle the complexity of roaming, the size constraints, the current consumption.

我們知道提供一個 5G 插座有多麼困難，該插座可以處理全面的頻譜、處理漫遊的複雜性、尺寸限制和電流消耗。

It's really hard.

這真的很難。

So we've spent a great deal of time creating a solution that makes it very easy for our customers to go to market, although the hard work underneath within the Skyworks discovery module is not easy.

因此，我們花費了大量時間來創建一個解決方案，使我們的客戶能夠非常輕鬆地進入市場，儘管 Skyworks 發現模塊中的艱苦工作並不容易。

So we have the ability to deliver the filtering technology that's needed all the way from SAW, TC-SAW to bulk acoustic wave, our own customized gallium arsenide devices, unique assembly and test and packaging in-house.

因此，我們有能力提供從 SAW、TC-SAW 到體聲波所需的濾波技術、我們自己定制的砷化鎵器件、獨特的內部組裝、測試和封裝。

And wrapping that together with a lot of these players that really need that know-how, it's been a great, great opportunity.

將這些與許多真正需要這種技術的球員結合在一起，這是一個很棒的機會。

This is something that we have been thinking about and working on for a year.

這是我們一年來一直在思考和努力的事情。

So this is a purpose-built solution.

所以這是一個專門構建的解決方案。

It is not something that we just turned on this year.

這不是我們今年剛剛打開的東西。

This is something that we've been working on for quite a while.

這是我們已經工作了很長時間的事情。

But the higher the complexity that we see in the market and in the handset, the better we do.

但我們在市場和手機中看到的複雜性越高，我們做得越好。

And you'll see that across the board.

你會全面看到這一點。

You'll see that with launches this year.

你會在今年的發布中看到這一點。

You'll see that with phones that are out there now.

你會在現在的手機上看到這一點。

And the complexity continues to rise.

並且複雜性繼續上升。

That drives content.

這推動了內容。

And the consumer demand for the technology around mobility, just continues to grow.

消費者對移動技術的需求也在持續增長。

So it's a great market to be in, but there's a lot of problems to be solved, and that's what really gets us excited and it puts us in a position to outperform.

所以這是一個很好的市場，但是有很多問題需要解決，這才是真正讓我們興奮的地方，它讓我們處於領先地位。

Ladies and gentlemen, that concludes today's question-and-answer session.

女士們，先生們，今天的問答環節到此結束。

I'll now turn the call back over to Mr. Griffin for any closing comments.

我現在將把電話轉回給格里芬先生，以徵求任何結束意見。

Thank you all for participating on today's call.

感謝大家參加今天的電話會議。

We look forward to talking to you at upcoming conferences during the quarter.

我們期待在本季度即將舉行的會議上與您交談。

Thank you.

謝謝你。

Ladies and gentlemen, that does conclude today's conference call.

女士們先生們，今天的電話會議到此結束。

We thank you for your participation.

我們感謝您的參與。