威騰電子 (WDC) 2021 Q2 法說會逐字稿

完整原文

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

  • Operator

    Operator

  • Good afternoon, and thank you for standing by.

    下午好,感謝您的支持。

  • Welcome to Western Digital's Fiscal Second Quarter 2021 Conference Call.

    歡迎參加西部數據 2021 財年第二季度電話會議。

  • (Operator Instructions) As a reminder, this call is being recorded.

    (操作員說明)作為提醒,此通話正在錄音中。

  • Now I'll turn the call over to Mr. Peter Andrew.

    現在我將把電話轉給彼得安德魯先生。

  • You may begin.

    你可以開始了。

  • T. Peter Andrew - VP of IR

    T. Peter Andrew - VP of IR

  • Thank you, and good afternoon, everyone.

    謝謝大家,大家下午好。

  • Joining me today are David Goeckeler, Chief Executive Officer; and Bob Eulau, Chief Financial Officer.

    今天加入我的是首席執行官 David Goeckeler;和首席財務官 Bob Eulau。

  • Before we begin, let me remind everyone that today's discussion contains forward-looking statements, including product portfolio expectations, business plans, trends and financial outlook based on management's current assumptions and expectations and, as such, does include risks and uncertainties.

    在開始之前,讓我提醒大家,今天的討論包含前瞻性陳述,包括基於管理層當前假設和預期的產品組合預期、業務計劃、趨勢和財務前景,因此確實包括風險和不確定性。

  • We assume no obligation to update these statements.

    我們不承擔更新這些聲明的義務。

  • Please refer to our most recent financial report on Form 10-K filed with the SEC for more information on the risks and uncertainties that could cause actual results to differ materially.

    請參閱我們最近提交給 SEC 的 10-K 表格財務報告,以了解有關可能導致實際結果出現重大差異的風險和不確定性的更多信息。

  • We will also make references to non-GAAP financial measures today.

    今天,我們還將參考非公認會計準則財務指標。

  • Reconciliations between the non-GAAP and comparable GAAP financial measures are included in the press release and other materials that are being posted in the Investor Relations section of our website.

    非 GAAP 和可比 GAAP 財務措施之間的對賬包含在新聞稿和我們網站投資者關係部分發布的其他材料中。

  • With that, I will now turn the call over to David.

    有了這個,我現在將把電話轉給大衛。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Thanks, Peter, and thanks, everyone, for joining us today.

    謝謝彼得,謝謝大家今天加入我們。

  • To start, our second quarter results were at or above the upper end of guidance ranges we provided in October.

    首先,我們的第二季度業績處於或高於我們在 10 月份提供的指導範圍的上限。

  • We reported revenue of $3.9 billion and non-GAAP earnings per share of $0.69.

    我們報告的收入為 39 億美元,非公認會計準則每股收益為 0.69 美元。

  • These results reflect continued growth in retail in what was a seasonally strong quarter.

    這些結果反映了零售在季節性強勁的季度中的持續增長。

  • In addition, stronger demand for our client SSD products as well as our notebook and desktop hard drives contributed to upside in revenue.

    此外,對我們的客戶 SSD 產品以及我們的筆記本電腦和台式機硬盤驅動器的強勁需求推動了收入的上升。

  • We continue to work hard delivering for our shareholders, customers, partners and communities.

    我們將繼續努力為我們的股東、客戶、合作夥伴和社區提供服務。

  • We adapted to changes in our business and continue to manage the ongoing challenges presented by the pandemic.

    我們適應了業務的變化,並繼續應對大流行帶來的持續挑戰。

  • Our results reflect the benefits of having such a diverse and deep product portfolio, fantastic franchises, a vast customer base and now an optimized organizational structure.

    我們的結果反映了擁有如此多樣化和深入的產品組合、出色的特許經營權、龐大的客戶群以及現在優化的組織結構所帶來的好處。

  • As a result, we have a solid foundation to capitalize on the significant growth opportunities in front of us.

    因此,我們有堅實的基礎來利用擺在我們面前的重大增長機會。

  • I'm excited about the progress we've made over the last few months in the recently established Flash and HDD business units.

    我對過去幾個月我們在最近成立的閃存和 HDD 業務部門取得的進展感到興奮。

  • Both franchises are led by exceptional leaders who are highly focused on executing their respective strategies by establishing their teams, evaluating technology and product development, engaging with customers and analyzing and effectively capturing target end markets.

    這兩個特許經營權都由傑出的領導者領導,他們高度專注於通過建立團隊、評估技術和產品開發、與客戶互動以及分析和有效地佔領目標終端市場來執行各自的戰略。

  • As we've highlighted in previous earnings calls, we are committed to delivering on our product road map, including advancing our product transitions.

    正如我們在之前的財報電話會議中強調的那樣,我們致力於實現我們的產品路線圖,包括推進我們的產品轉型。

  • Notably, we are making great headway with the product transitions of our energy-assisted hard drives and enterprise SSDs.

    值得注意的是,我們在能源輔助硬盤驅動器和企業級 SSD 的產品轉換方面取得了巨大進展。

  • As you all know, these transitions are multi-quarter journeys, but I'm pleased with our progress, which I'll detail shortly.

    眾所周知,這些過渡是多季度的旅程,但我對我們的進展感到滿意,稍後我將詳細介紹。

  • Although our progress to date is showing tangible results, there's still work to be done.

    儘管我們迄今取得的進展顯示出切實的成果,但仍有工作要做。

  • We remain extremely focused on enhancing our ability to drive continued innovation and sustainable long-term shareholder value.

    我們仍然非常專注於提高我們推動持續創新和可持續長期股東價值的能力。

  • Let me now provide a recap of our Flash and HDD businesses.

    現在讓我回顧一下我們的閃存和硬盤業務。

  • Within Flash, we remain well positioned to address the digital transformation driven by businesses, schools and consumers that continue to leverage technology as a daily necessity for work, learning and a much needed form of entertainment.

    在 Flash 中,我們仍然處於有利地位,可以解決由企業、學校和消費者推動的數字化轉型,這些企業、學校和消費者繼續利用技術作為日常工作、學習和急需的娛樂形式。

  • The pandemic has not only accelerated this transformation by the way we all use the cloud, but it has spurred technological innovation by driving the ability to access the cloud using very powerful and advanced end devices.

    大流行不僅通過我們所有人使用雲的方式加速了這種轉變,而且通過推動使用非常強大和先進的終端設備訪問云的能力,刺激了技術創新。

  • The increasingly pervasive ability to access, store and share data from anywhere on any device has resulted in robust storage demand, particularly in smaller form factors, such as notebook, tablet and Chromebook.

    在任何設備上從任何地方訪問、存儲和共享數據的能力日益普及,這導致了強勁的存儲需求,特別是在筆記本電腦、平板電腦和 Chromebook 等較小的外形尺寸中。

  • The attach rate of client SSDs into notebooks now exceeds 80%, while desktop penetration of client SSDs is around 40%.

    客戶端 SSD 與筆記本電腦的連接率現已超過 80%,而客戶端 SSD 的台式機滲透率約為 40%。

  • Furthermore, tablets and Chromebooks, which are all-flash based, represent a growing percentage of total PC demand.

    此外,基於全閃存的平板電腦和 Chromebook 在 PC 總需求中所佔的比例越來越大。

  • Our leading position in client NVMe-based SSDs and our strong relationships with the major PC OEMs drove our our client SSD business to a record level of exabyte shipments.

    我們在基於客戶端 NVMe 的 SSD 方面的領先地位以及我們與主要 PC OEM 的牢固關係推動我們的客戶端 SSD 業務達到創紀錄的 EB 出貨量水平。

  • Retail continued to perform well in a seasonally strong quarter, and we achieved a 2-year high in revenue, supported by the strength of our brand and the breadth of our portfolio.

    零售在季節性強勁的季度繼續表現良好,在我們的品牌實力和產品組合廣度的支持下,我們的收入達到了兩年來的新高。

  • We continue to make progress with our second-generation enterprise SSD products, completing nearly 150 qualifications.

    我們在第二代企業級 SSD 產品方面不斷取得進步,完成了近 150 項資質。

  • Importantly, we completed the qualification process at one cloud titan, which was an objective we committed to last quarter.

    重要的是,我們在一個雲巨頭完成了資格認證流程,這是我們在上個季度承諾的目標。

  • We are shipping to this cloud titan in the fiscal third quarter.

    我們將在第三財季向這個雲巨頭髮貨。

  • The second-generation enterprise SSD qualification process is well underway with additional cloud titans and large OEMs.

    第二代企業級 SSD 認證流程正在與更多的雲巨頭和大型 OEM 合作順利進行。

  • From a technology perspective, we began shipping our 112 layer BiCS5 technology and client SSD products in the December quarter.

    從技術角度來看,我們在 12 月季度開始出貨 112 層 BiCS5 技術和客戶端 SSD 產品。

  • BiCS5 remains the most capital-efficient technology node in the recent history of NAND going back to the 2D era, and we are preparing for a significant ramp of this node through 2021.

    BiCS5 仍然是 NAND 可追溯到 2D 時代的近期歷史上最具資本效率的技術節點,我們正準備在 2021 年之前大幅提升該節點。

  • Ultimately, customers want the best product that offers a blend of cost, performance and power, and Western Digital provides that.

    歸根結底,客戶想要的是兼具成本、性能和功耗的最佳產品,而西部數據提供了這一點。

  • Our focus on technological and architectural innovations, coupled with the benefits of size and scale that we have with our joint venture with Kioxia, has enabled us to deliver the industry's highest bit density per layer at the lowest cost per bit.

    我們對技術和架構創新的關注,加上我們與鎧俠的合資企業在規模和規模方面的優勢,使我們能夠以最低的每比特成本提供業界最高的每層比特密度。

  • As the result of our inherent advantages with the joint venture, particularly our scale and consistent track record of technological innovation, we are able to deliver the required bit growth and performance with the lowest capital intensity in the industry.

    由於我們與合資企業的固有優勢,特別是我們的規模和技術創新的一貫記錄,我們能夠以業內最低的資本密集度提供所需的比特增長和性能。

  • We are highly confident in our ability to continue this momentum as we ramp BiCS5 through calendar year 2021 and begin BiCS6 productization.

    隨著我們在 2021 日曆年推出 BiCS5 並開始 BiCS6 產品化,我們對繼續保持這一勢頭的能力充滿信心。

  • On the HDD side of the business, upside demand in PC, notebook and smart video more than offset weakness in capacity enterprise.

    在硬盤業務方面,個人電腦、筆記本電腦和智能視頻的上行需求抵消了容量企業的疲軟。

  • The persisting work-from-home and distance learning trends I touched upon earlier drove higher demand for both desktop and notebook PC hard drives and propelled retail hard drive revenue to a 3-year high.

    我之前提到的持續在家工作和遠程學習趨勢推動了對台式機和筆記本電腦硬盤驅動器的更高需求,並將零售硬盤驅動器收入推高至 3 年高位。

  • The smart video business continued to recover, growing 30% sequentially.

    智能視頻業務繼續復甦,環比增長30%。

  • The biggest HD update is our solid progress against the initiatives we outlined last quarter, completing the qualification process at the cloud titans with our mass market energy-assisted hard drives.

    最大的高清更新是我們在上個季度概述的計劃方面取得了堅實的進展,通過我們的大眾市場能源輔助硬盤驅動器完成了雲巨頭的認證過程。

  • I'm pleased to share that we have now completed qualifications at 3 of the 4 U.S. cloud titans.

    我很高興地與大家分享,我們現在已經完成了美國 4 家云巨頭中的 3 家的資格認證。

  • While one now completed cloud titan qualification slipped beyond our anticipated time line in the fiscal second quarter, another cloud titan qualification scheduled to complete in the fiscal third quarter was completed in the second quarter.

    雖然現在完成的一項云巨頭資格在第二財季超出了我們預期的時間線,但計劃在第三財季完成的另一項云巨頭資格在第二季度完成。

  • With these significant milestones now behind us, we have staged products in anticipation of the ramp of these drives as we continue through 2021.

    隨著這些重要的里程碑現在已經過去,我們已經推出了產品,以期隨著我們持續到 2021 年這些驅動器的增長。

  • With cloud digestion abating and the stabilization of OEM demand, we believe the demand in capacity enterprise bottomed in the fiscal second quarter and are anticipating a rebound in the fiscal third quarter.

    隨著雲消化的減弱和OEM需求的穩定,我們認為產能企業的需求在第二財季觸底,預計第三財季將出現反彈。

  • 18-terabyte is expected to be our leading capacity point as we head into the second half of the calendar year, which should propel nice growth in this segment going forward.

    隨著我們進入日曆年下半年,預計 18 TB 將成為我們領先的容量點,這將推動該領域未來的良好增長。

  • As the volume of these drives continues to ramp through the calendar year, we expect our revenue and gross margin to recover.

    隨著這些驅動器的數量在整個日曆年中繼續增加,我們預計我們的收入和毛利率將恢復。

  • Before I turn it over to Bob, I'll quickly summarize our perspective on what's to come.

    在我把它交給鮑勃之前,我將快速總結一下我們對即將發生的事情的看法。

  • We continue to deal with the far-reaching effects of the pandemic, and no one can be certain of what the new normal will look like.

    我們繼續應對大流行的深遠影響,沒有人能確定新常態會是什麼樣子。

  • However, there is no question the accelerated digital transformation has only increased the reliance on data and technology in both our professional and our personal lives, which we are confident will have a lasting impact for years to come.

    然而,毫無疑問,加速的數字化轉型只會增加我們在職業和個人生活中對數據和技術的依賴,我們相信這將在未來幾年產生持久的影響。

  • To this point, some industry analysts are raising the possibility that in certain portions of the market, such as the cloud, the storage industry will not be able to meet the extraordinary demand for both flash and hard drive solutions over the course of the next 10 years.

    至此,一些行業分析師提出了這樣一種可能性,即在雲計算等市場的某些部分,存儲行業將無法滿足未來 10 年內對閃存和硬盤解決方案的巨大需求。年。

  • Western Digital's unique ability to provide flash and hard drive storage solutions for customers spanning individual consumers to cloud titans highlights the value and importance of our broad portfolio and strong competitive position.

    西部數據為從個人消費者到雲巨頭的客戶提供閃存和硬盤存儲解決方案的獨特能力凸顯了我們廣泛的產品組合和強大競爭地位的價值和重要性。

  • I'll now turn the call over to Bob to share details on our financial results.

    我現在將把電話轉給 Bob,以分享我們財務業績的詳細信息。

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Thanks, Dave, and good afternoon, everyone.

    謝謝,戴夫,大家下午好。

  • As Dave mentioned, overall results for the fiscal second quarter were at or above the upper end of the guidance ranges we provided in October.

    正如戴夫所說,第二財季的總體業績處於或高於我們在 10 月份提供的指導範圍的上限。

  • Revenue was $3.9 billion, up slightly sequentially and down 7% year-over-year.

    收入為 39 億美元,環比略有增長,同比下降 7%。

  • Growth in Client Devices and Client Solutions was mostly offset by a decline in our Data Center Devices and Solutions end market.

    客戶端設備和客戶端解決方案的增長大部分被我們的數據中心設備和解決方案終端市場的下降所抵消。

  • Looking at our end markets.

    看看我們的終端市場。

  • Client Devices revenue was $2.1 billion, up 10% sequentially and 19% year-over-year.

    客戶端設備收入為 21 億美元,環比增長 10%,同比增長 19%。

  • Work, school and game from home trends continue to drive demand for both our flash and hard drive solutions for notebook and desktop applications.

    在家工作、上學和玩遊戲的趨勢繼續推動對我們用於筆記本電腦和台式機應用程序的閃存和硬盤驅動器解決方案的需求。

  • In notebook and desktop, our Flash and Hard Drive revenue each grew over 20% sequentially, highlighting the power and value of our portfolio for our leading OEM customers.

    在筆記本電腦和台式機方面,我們的閃存和硬盤收入環比增長均超過 20%,彰顯了我們產品組合對領先 OEM 客戶的強大功能和價值。

  • Demand for our smart video hard drive was much stronger than expected, growing 30% sequentially as demand continued to recover from the bottom set in fiscal fourth quarter of 2020 during the height of the COVID-related lockdowns.

    對我們的智能視頻硬盤的需求遠強於預期,環比增長 30%,因為需求繼續從 2020 財年第四季度 COVID 相關鎖定高峰期間的最低點恢復。

  • And lastly, Mobile revenue was down sequentially with growth in recently introduced 5G phones, offset by dynamics within China.

    最後,隨著最近推出的 5G 手機的增長,移動收入環比下降,但被中國國內的動態所抵消。

  • Moving on to Data Center Devices and Solutions.

    轉向數據中心設備和解決方案。

  • Revenue was $807 million, down 29% sequentially and 46% from a year ago.

    收入為 8.07 億美元,環比下降 29%,比一年前下降 46%。

  • Revenue from both capacity enterprise hard drives and enterprise SSDs were down sequentially.

    來自容量企業級硬盤和企業級 SSD 的收入環比下降。

  • As Dave mentioned, we had an unexpected delay in a qualification at a cloud titan.

    正如 Dave 提到的,我們在雲巨頭的資格認證方面意外延遲。

  • As a result, during the quarter, our capacity enterprise drive shipments were negatively impacted and inventory grew.

    結果,在本季度,我們的容量企業驅動器出貨量受到負面影響,庫存增加。

  • We have since completed this qualification.

    我們已經完成了這個資格。

  • And as Dave noted, given that a separate cloud titan qualification was completed ahead of schedule, we now have 3 of the 4 cloud titans qualified on our new energy-assisted drives.

    正如 Dave 所指出的,鑑於單獨的雲泰坦資格已提前完成,我們現在有 3 名云泰坦在我們的新能源輔助驅動器上獲得資格。

  • In addition, we are beginning to ramp our second-generation enterprise SSD products through calendar year 2021.

    此外,我們開始在 2021 日曆年推出我們的第二代企業級 SSD 產品。

  • Next, Client Solutions revenue was above expectations at $1 billion, up 19% sequentially and 6% from a year ago.

    接下來,客戶解決方案收入超過預期,達到 10 億美元,環比增長 19%,比一年前增長 6%。

  • The work, school and gaming from home trend benefited both hard drive and flash-based products, again, highlighting the powerful go-to-market synergies of this channel.

    在家工作、上學和玩遊戲的趨勢使硬盤和基於閃存的產品受益,再次突出了該渠道強大的市場協同效應。

  • Turning to revenue by technology.

    通過技術轉向收入。

  • Flash revenue was $2 billion, down 2% sequentially and up 11% year-over-year.

    Flash 收入為 20 億美元,環比下降 2%,同比增長 11%。

  • Flash ASPs were down 9% sequentially on a blended basis and down 6% on a like-for-like basis.

    Flash ASP 在混合基礎上環比下降 9%,在同類基礎上下降 6%。

  • Bit shipments were up 7% sequentially.

    位出貨量環比增長 7%。

  • Hard drive revenue was $1.9 billion, up 4% sequentially and down 20% year-over-year.

    硬盤收入為 19 億美元,環比增長 4%,同比下降 20%。

  • On a sequential basis, total exabyte shipments were up 2%, while the average price per hard drive decreased 8% to $73.

    環比來看,EB 總出貨量增長 2%,而每個硬盤的平均價格下降 8% 至 73 美元。

  • As we move into cost and expenses, please note that all of my comments will be related to non-GAAP results unless stated otherwise.

    當我們進入成本和費用時,請注意,除非另有說明,否則我的所有評論都將與非 GAAP 結果相關。

  • Gross margin for the second quarter was 26.4%, up slightly sequentially and above the upper end of the guidance range provided in October.

    第二季度毛利率為 26.4%,環比略有上升,高於 10 月份提供的指導範圍上限。

  • Our Flash gross margin was up 0.7 points from the last quarter to 27.1% as the mix shifted toward our client SSDs and we experienced a strong seasonal quarter in client solutions.

    我們的閃存毛利率比上一季度增長 0.7 個百分點至 27.1%,因為該組合轉向我們的客戶端 SSD,並且我們在客戶端解決方案方面經歷了一個強勁的季度季度。

  • We continued to achieve solid cost reductions.

    我們繼續實現可靠的成本降低。

  • Our hard drive gross margin was 25.6%, down 0.6 points sequentially.

    我們的硬盤毛利率為 25.6%,環比下降 0.6 個百分點。

  • The mix shift towards notebook and desktop hard drives and the early ramp of our energy-assisted drives pressured our gross margin.

    向筆記本電腦和台式機硬盤驅動器的混合轉變以及我們的能量輔助驅動器的早期增長給我們的毛利率帶來了壓力。

  • This includes COVID-related impact of approximately $32 million.

    這包括約 3200 萬美元的 COVID 相關影響。

  • Non-GAAP earnings per share was $0.69, above our guidance range.

    非 GAAP 每股收益為 0.69 美元,高於我們的指導範圍。

  • Operating cash flow for the second quarter was $425 million, and free cash flow was $149 million.

    第二季度的經營現金流為 4.25 億美元,自由現金流為 1.49 億美元。

  • Capital expenditures, which include the purchase of property, plant and equipment, and activity related to flash joint ventures on our cash flow statement with a cash outflow of $276 million.

    資本支出,包括購買物業、廠房和設備,以及與我們現金流量表上的閃速合資企業相關的活動,現金流出為 2.76 億美元。

  • In the fiscal second quarter, we paid off $248 million in debt, including an optional debt paydown of $150 million and $35 million of the remaining SanDisk convertible notes.

    在第二財季,我們還清了 2.48 億美元的債務,包括可選的 1.5 億美元債務償還和 3500 萬美元剩餘的閃迪可轉換票據。

  • Our liquidity position continues to be strong.

    我們的流動性狀況繼續強勁。

  • At the end of the quarter, we had $3 billion in cash and cash equivalents, and our gross debt outstanding was $9.3 billion.

    在本季度末,我們擁有 30 億美元的現金和現金等價物,我們的未償債務總額為 93 億美元。

  • Our debt-to-EBITDA ratio was 3.9x in the second quarter.

    我們第二季度的債務與 EBITDA 比率為 3.9 倍。

  • Our adjusted EBITDA, as defined in our credit agreement, was $3.5 billion, flat sequentially, resulting in a leverage ratio of 2.7x.

    根據我們的信貸協議,我們調整後的 EBITDA 為 35 億美元,環比持平,槓桿率為 2.7 倍。

  • As a reminder, our credit agreement includes $1 billion in depreciation add-back associated with the joint ventures.

    提醒一下,我們的信貸協議包括與合資企業相關的 10 億美元折舊加回。

  • This is not reflected in our cash flow statement.

    這沒有反映在我們的現金流量表中。

  • Please refer to the earnings presentation on the Investor Relations website for further details.

    有關詳細信息,請參閱投資者關係網站上的收益報告。

  • Moving on to our outlook.

    繼續我們的展望。

  • Our fiscal third quarter guidance is as follows.

    我們的第三財季指引如下。

  • We expect revenue to be in the range of $3.85 billion to $4.05 billion, and we expect both HDD and Flash revenue to be in a similar range in the third quarter as they were in the second.

    我們預計收入將在 38.5 億美元至 40.5 億美元之間,我們預計 HDD 和閃存的收入在第三季度將處於與第二季度相似的範圍內。

  • This range is better than expected when you consider normal seasonality, which would have implied a 7% decrease sequentially in the third quarter.

    考慮到正常的季節性,這個範圍好於預期,這意味著第三季度環比下降 7%。

  • We expect non-GAAP gross margin to be between 25.5% and 27.5%.

    我們預計非美國通用會計準則毛利率將在 25.5% 至 27.5% 之間。

  • We expect flash gross margin to improve sequentially as we anticipate flash price declines will improve from the fiscal second quarter and cost reductions will continue.

    我們預計閃存毛利率將環比提高,因為我們預計閃存價格下降將比第二財季有所改善,並且成本將繼續降低。

  • Hard drive gross margin is expected to be down sequentially, primarily due to higher volumes of our 16-terabyte drive and a planned reduction in production volume.

    硬盤毛利率預計將環比下降,主要是由於我們 16 TB 硬盤的銷量增加以及計劃減少產量。

  • We expect the 18-terabyte drive to be the leading capacity point as we head into the second half of the calendar year, which should propel growth in this segment going forward.

    隨著我們進入日曆年下半年,我們預計 18 TB 驅動器將成為領先的容量點,這將推動該領域未來的增長。

  • We expect operating expenses to be between $705 million and $725 million.

    我們預計運營費用將在 7.05 億美元至 7.25 億美元之間。

  • Interest and other expense is expected to be approximately $70 million.

    利息和其他費用預計約為 7000 萬美元。

  • The tax rate is expected to be approximately 23% in the third quarter, and we expect non-GAAP earnings per share to be between $0.55 and $0.75 in the third quarter, assuming approximately 310 million fully diluted shares.

    第三季度的稅率預計約為 23%,我們預計第三季度非 GAAP 每股收益將在 0.55 美元至 0.75 美元之間,假設大約 3.1 億股完全稀釋的股票。

  • Now I'll turn it back over to Dave.

    現在我會把它交給戴夫。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Thanks, Bob.

    謝謝,鮑勃。

  • As we discussed, Western Digital has worked hard to position ourselves to address this unabated growth in data and, therefore, storage technology.

    正如我們所討論的,西部數據一直在努力定位自己,以應對數據和存儲技術的這種不減的增長。

  • And thanks to these efforts, the market has aligned favorably for us.

    由於這些努力,市場對我們有利。

  • We're running 2 industry-leading technology franchises in end markets that will only continue to grow as the digital transformation further accelerates.

    我們在終端市場經營著 2 個行業領先的技術特許經營權,隨著數字化轉型的進一步加速,它們只會繼續增長。

  • We know that our HDD business is less encumbered by workload mix shifts today and that our Flash business is becoming more and more driven by applications.

    我們知道,我們的 HDD 業務如今較少受到工作負載組合變化的影響,並且我們的閃存業務越來越受到應用程序的驅動。

  • We also have made the right investments, and our joint ventures with Kioxia are a strategic differentiating asset.

    我們也做出了正確的投資,我們與鎧俠的合資企業是一項戰略差異化資產。

  • It is an extremely exciting time for our company as we are focused on capitalizing on the tremendous opportunities in front of us.

    對於我們公司來說,這是一個非常激動人心的時刻,因為我們專注於利用我們面前的巨大機遇。

  • Accordingly, we will continue building momentum behind our business unit strategies, company positioning, strong brand and industry-leading portfolio.

    因此,我們將繼續為我們的業務部門戰略、公司定位、強大的品牌和行業領先的產品組合建立動力。

  • I'll now turn the call over to the operator to begin Q&A.

    我現在將把電話轉給接線員開始問答。

  • Operator

    Operator

  • (Operator Instructions) Our first question comes from the line of Aaron Rakers with Wells Fargo.

    (操作員說明)我們的第一個問題來自富國銀行的 Aaron Rakers。

  • Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Analyst

    Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Analyst

  • Yes.

    是的。

  • Just kind of on the nearline hard disk drive market, I know that you talked about some puts and takes with regard to qualification cycles on the 18-terabytes.

    就近線硬盤驅動器市場而言,我知道您談到了關於 18 TB 的資格週期的一些看跌期權。

  • But I guess the question first of all is, can you help us understand what capacity shipments did in the quarter for nearline?

    但我想首先的問題是,你能幫助我們了解本季度近線的產能出貨量嗎?

  • And just help us understand the kind of the shape of the ramp that you expect on nearline as far as capacity shift over the next quarter or a couple of quarters, which -- however you want to kind of discuss your expectations on 18 TBs ramping going forward?

    並且只是幫助我們了解您對近線預期的坡道形狀,就下個季度或幾個季度的容量轉移而言,這 - 但是您想討論一下您對 18 TB 坡道的期望向前?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes, I would say -- thanks, Aaron.

    是的,我會說——謝謝,亞倫。

  • So I would say the mix last quarter was still 14, 16 for the most part.

    所以我想說上個季度的組合仍然是 14,大部分是 16。

  • Of course, there are some 18s mixed in there.

    當然,其中也有一些 18 歲的混血兒。

  • But as we said, one of the big calls that we were working on kind of finished right in the first week of the following quarter, so we expect that now to start ramping.

    但正如我們所說,我們正在處理的一個重大電話在下一季度的第一周就完成了,所以我們預計現在開始增加。

  • I think -- as I said in the remarks, I think cloud digestion is abating.

    我認為 - 正如我在評論中所說,我認為雲消化正在減弱。

  • So there -- I think the different big players come out of it at different rates, and the first ones are already starting to come out.

    所以那裡 - 我認為不同的大玩家以不同的速度出現,第一個已經開始出現。

  • And we expect other ones to pick up as we go through the year.

    我們預計其他人會隨著我們這一年的發展而回升。

  • So the big thing for us is we expect 18 to -- as we get into the middle part of the year, that's where the transition will happen at being the leading capacity point for us.

    因此,對我們來說最重要的是,我們預計 18 歲 - 當我們進入年中時,這將是我們的主要產能點發生轉變的地方。

  • And as that happens, that's good for our business.

    當這種情況發生時,這對我們的業務有好處。

  • So that's basically how we see it.

    所以這基本上就是我們的看法。

  • Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Analyst

    Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Analyst

  • And what did capacity shipments during the quarter?

    本季度的產能出貨量如何?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Bob, do you have the capacity shipment for the quarter?

    鮑勃,你有本季度的運力嗎?

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Well, I mean we don't split it out specifically, but you can see that on the Data Center Devices and Solutions, we were down quite a bit, and that was driven both by the capacity enterprise as well as enterprise SSDs.

    好吧,我的意思是我們沒有具體拆分它,但你可以看到,在數據中心設備和解決方案上,我們下降了很多,這是由容量企業和企業 SSD 共同推動的。

  • Operator

    Operator

  • Our next question comes from the line of Joe Moore with Morgan Stanley.

    我們的下一個問題來自摩根士丹利的喬摩爾。

  • Joseph Lawrence Moore - Executive Director

    Joseph Lawrence Moore - Executive Director

  • Great.

    偉大的。

  • In terms of the NAND gross margins, the improvement that you saw in the December quarter sequentially with prices down 6% like-for-like and the improvement that you're seeing in Q1, where is that coming from?

    就 NAND 毛利率而言,您在 12 月季度看到的環比改善,價格同比下降 6% 以及您在第一季度看到的改善,這是從哪裡來的?

  • And can you remind us where you are with the startup expenses from the new fab rolling off?

    你能提醒我們新工廠的啟動費用在哪裡嗎?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes.

    是的。

  • So I'd say, kind of as we started talking about last quarter, in the more transactional markets, we're seeing pricing get better.

    所以我想說,就像我們上個季度開始討論的那樣,在更多交易市場中,我們看到定價變得更好。

  • We'll see how that flows through to the negotiated markets over the next couple of quarters.

    在接下來的幾個季度中,我們將看到這將如何流向談判的市場。

  • But basically, as we went through the quarter, we saw retail and parts of the channel improve.

    但基本上,當我們度過這個季度時,我們看到零售和部分渠道有所改善。

  • And as far as K1 costs?

    至於K1的成本?

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes, I can update you on K1.

    是的,我可以在 K1 上更新您。

  • So I think I had originally guided to around $50 million in K1 startup costs this quarter, and we actually came in around $40 million.

    因此,我認為我最初指導本季度 K1 啟動成本約為 5000 萬美元,而我們實際上達到了 4000 萬美元左右。

  • And this quarter, the quarter we're now in, will be at normal production volume.

    而本季度,也就是我們現在所處的季度,產量將保持正常。

  • So we're not going to continue reporting startup costs because we're really not in startup mode anymore.

    所以我們不會繼續報告啟動成本,因為我們真的不再處於啟動模式了。

  • Joseph Lawrence Moore - Executive Director

    Joseph Lawrence Moore - Executive Director

  • Great.

    偉大的。

  • And then in terms of your inventory level, I think you said that the inventory increase was mostly on the drive side.

    然後就您的庫存水平而言,我認為您說庫存增加主要是在驅動方面。

  • Where are you in terms of your internal NAND inventory?

    您的內部 NAND 庫存在哪裡?

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • The flash inventory is pretty consistent with the last couple of quarters, and we're not -- we haven't really built inventory on the Flash side.

    閃存庫存與過去幾個季度非常一致,但我們不是——我們還沒有真正在閃存方面建立庫存。

  • We really, as we mentioned in our remarks, really built some inventory in anticipation of the new drive -- the new capacity enterprise drives shipping, and that's going to start higher and higher volumes as we go forward.

    正如我們在評論中提到的那樣,我們確實建立了一些庫存以期待新的驅動 - 新容量企業推動運輸,隨著我們的前進,這將開始越來越高的產量。

  • Operator

    Operator

  • And our next question comes from the line of Wamsi Mohan with Bank of America.

    我們的下一個問題來自美國銀行的 Wamsi Mohan。

  • Wamsi Mohan - Director

    Wamsi Mohan - Director

  • Thanks for the color on the data center side.

    感謝數據中心方面的顏色。

  • I was wondering, just given your comments around the qualification timing, can this segment grow in fiscal second half versus fiscal second half of 2020, especially given that the comps sort of get tougher by the end of the fiscal year?

    我想知道,鑑於您對資格時間的評論,與 2020 財年下半年相比,這一細分市場能否在財政下半年增長,特別是考慮到到本財政年度結束時比賽會變得更加艱難?

  • And your comments on HDD gross margins sort of worsening sequentially, is this basically -- are we waiting for one more quarter, basically the end of the fiscal year, before we see HDD margins pick up as you get material pickup in 18 TB?

    您對 HDD 毛利率的評論逐漸惡化,這基本上是 - 我們是否還要再等一個季度,基本上是本財政年度結束,然後我們才能看到 HDD 利潤率隨著您獲得 18 TB 的材料而回升?

  • Or will these cloud sort of abatement plus the OEM pickup help by your fiscal fourth quarter?

    或者這些雲類型的減排加上 OEM 提貨對您的第四財季有幫助嗎?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Okay.

    好的。

  • Let me see if I can decompose that a little bit.

    讓我看看我能不能把它分解一下。

  • So yes, we expect a pickup in -- as we move throughout the year.

    所以,是的,我們預計會有所回升——隨著我們全年的行動。

  • I think your call on the gross market -- we see the revenue coming back as we move into next quarter and then getting better throughout the year.

    我認為你對總市場的呼籲——我們看到隨著我們進入下個季度收入回升,然後全年變得更好。

  • We kind of guide one quarter at a time.

    我們一次指導四分之一。

  • I don't have the year-over-year number on the top of my head.

    我的頭頂上沒有同比數字。

  • But you're right on margin.

    但你是對的。

  • We kind of expect one more quarter of maybe flat to slightly down margin on the drive side, and then we'll start to see that accelerate, especially as we move through into higher percentage of 18 Ts.

    我們有點預計驅動端可能會再有四分之一的利潤率可能持平或略微下降,然後我們將開始看到這種加速,尤其是當我們進入更高百分比的 18 Ts 時。

  • Operator

    Operator

  • And our next question comes from the line of Toshiya Hari with Goldman Sachs.

    我們的下一個問題來自高盛的 Toshiya Hari。

  • Toshiya Hari - MD

    Toshiya Hari - MD

  • I wanted to follow up on gross margins in your ACD business, David.

    我想跟進你的 ACD 業務的毛利率,大衛。

  • So again, as you mentioned, this quarter is going to be flat to down.

    同樣,正如您所提到的,本季度將持平。

  • As you move forward with mix improving, hopefully COVID costs abating at some point, maybe some of the costs related to energy assist going away, do you think getting back to 30% over the next year or so is a reasonable target?

    隨著您推進混合改進,希望 COVID 成本在某個時候降低,也許與能源輔助相關的一些成本會消失,您認為在明年左右恢復到 30% 是一個合理的目標嗎?

  • Or is the margin profile structurally different today versus a year ago, 2 years ago?

    或者,今天的利潤率狀況與一年前、兩年前的結構是否不同?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • No.

    不。

  • I think you hit on the issues there.

    我想你已經解決了那裡的問題。

  • I mean, first of all, COVID last quarter was about 1.7% of a headwind in that business.

    我的意思是,首先,上個季度的 COVID 佔該業務逆風的 1.7% 左右。

  • In mix, we talked about retail being multiyear high.

    綜合來看,我們談到零售業處於多年高位。

  • But we believe as we get -- we go into 18, we have a path back to the kind of margin profile you're talking about.

    但我們相信,當我們進入 18 歲時,我們有一條回到你所說的那種利潤率概況的道路。

  • We just need to get the mix better.

    我們只需要更好地混合。

  • I mean COVID's a bit of a wildcard.

    我的意思是 COVID 有點像通配符。

  • How fast the -- it's really the freight costs, how fast we can get freight costs to come down.

    多快——這真的是運費,我們可以多快讓運費下降。

  • It's been obviously pretty sticky about where it's been for the last couple of quarters.

    過去幾個季度的情況顯然很棘手。

  • And then as I said, as we move into 18 and we see the cloud digest -- fully come out of cloud digestion, I think you'll see a path back to the more traditional margin structure.

    然後正如我所說,當我們進入 18 歲時,我們看到了雲消化——完全擺脫了雲消化,我認為你會看到一條回到更傳統的保證金結構的道路。

  • Operator

    Operator

  • Our next question comes from the line of Mehdi Hosseini with SIG.

    我們的下一個問題來自 SIG 的 Mehdi Hosseini。

  • Mehdi Hosseini - Senior Analyst

    Mehdi Hosseini - Senior Analyst

  • Yes.

    是的。

  • On the Flash side, can you please provide some color as to what percentage of flash revenue were driven from gaming?

    在 Flash 方面,您能否提供一些關於 Flash 收入的百分比來自遊戲的說明?

  • And how do you see that trending for the rest of the year?

    您如何看待今年剩餘時間的趨勢?

  • And I have a follow-up.

    我有一個後續行動。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes.

    是的。

  • Gaming was -- gaming is still -- I think it's not as significant as it was last quarter, given last quarter, there was a lot of buy-in anticipation of the initial builds.

    遊戲 - 遊戲仍然 - 我認為它不像上個季度那麼重要,鑑於上個季度,對初始構建有很多買入預期。

  • So I would say it's down a little bit sequentially, but it's still a great market for us because we can play the console side of it and the retail with WD Black, which has been very, very well received in the retail channels.

    所以我會說它在連續下降了一點,但它對我們來說仍然是一個很好的市場,因為我們可以玩它的控制台端和 WD Black 的零售,這在零售渠道中非常非常受歡迎。

  • And it is part of the reason the retail business is doing well, and the margins are good as we're investing in brand in addition to just the product.

    這也是零售業務表現良好的部分原因,利潤率也不錯,因為我們除了投資產品之外還投資品牌。

  • So sequentially down a little bit but still expected to be a good market as we move throughout the year.

    因此,隨著我們全年的發展,連續下降了一點,但仍有望成為一個良好的市場。

  • Mehdi Hosseini - Senior Analyst

    Mehdi Hosseini - Senior Analyst

  • Got you.

    得到你。

  • And then one additional follow-up on the Flash side.

    然後是 Flash 方面的另一項後續行動。

  • Last earning conference call, you alluded to the fact that you are a couple of quarters away from finalizing contracts with OEMs.

    上次盈利電話會議,您提到您距離與 OEM 敲定合同還有幾個季度的時間。

  • And as prices or supply/demand at titans, do you see OEMs stepping up and signing longer-term contract?

    作為巨頭的價格或供需關係,您是否看到原始設備製造商加緊簽訂長期合同?

  • Or is this just going to be a guesswork as to how they plan for -- especially like 1 or 2 quarters out?

    或者這只是他們如何計劃的猜測 - 特別是像 1 或 2 個季度?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes, I think what I talked about last quarter was actually a qualification at the OEMs, and that's a multi-quarter activity.

    是的,我認為我上個季度談到的實際上是 OEM 的資格認證,這是一個多季度的活動。

  • The pricing is negotiated on a quarterly basis, and there's kind of a long-term agreement of, let's say, on a year time frame of what the target share is, but that can move around a little bit.

    定價是按季度協商的,並且有一種長期協議,比方說,目標份額是一年的時間框架,但這可能會有所變化。

  • But that gives you a sense about kind of how the market works.

    但這讓你對市場的運作方式有所了解。

  • Mehdi Hosseini - Senior Analyst

    Mehdi Hosseini - Senior Analyst

  • But how do you see the dynamics like today compared to like October conference call?

    但是,與 10 月的電話會議相比,您如何看待今天的動態?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Of which part?

    屬於哪一部分?

  • The call or the share or the pricing?

    電話或股票或定價?

  • Mehdi Hosseini - Senior Analyst

    Mehdi Hosseini - Senior Analyst

  • Well, the qualification and how I think as you look into rest -- remainder of the year, do you see more of a pricing power coming back to the suppliers?

    好吧,當您考慮休息時,資格以及我的看法 - 今年剩餘時間,您是否看到更多的定價權回到供應商手中?

  • Or is it still going to be a hard negotiation?

    還是仍將是一場艱難的談判?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Well, I mean -- so the qualification was all about our second-generation NVMe enterprise SSD product, which is quite a mouthful.

    嗯,我的意思是——所以資格是關於我們的第二代 NVMe 企業級 SSD 產品的,這很拗口。

  • But that qualification -- I think last quarter, I said we were scheduled to start a qualification this quarter.

    但是那個資格 - 我想上個季度,我說我們計劃在本季度開始一個資格。

  • I said in October, we were scheduled to start qualification in our fiscal second quarter, which did start and is underway.

    我在 10 月份說過,我們計劃在我們的第二財季開始資格認證,這確實已經開始並且正在進行中。

  • And that is a multi-quarter process, and assuming it's successful, put us in a stronger position to ship that product into the OEM -- into the big OEM.

    這是一個多季度的過程,假設它成功,讓我們處於更有利的位置,將產品運送到原始設備製造商——大型原始設備製造商。

  • So it's underway, as I said in the prepared remarks and I think I've been talking about now for a couple of quarters.

    所以它正在進行中,正如我在準備好的評論中所說,我想我已經談論了幾個季度。

  • The qualification in my book is the last phase of the development process.

    我書中的資格是開發過程的最後階段。

  • It can move around a little bit.

    它可以稍微移動一下。

  • But the fact that it's underway is a good sign for -- we're working to expand the TAM of that product.

    但它正在進行中的事實是一個好兆頭——我們正在努力擴大該產品的 TAM。

  • Operator

    Operator

  • Our next question comes from the line of C.J. Muse with Evercore.

    我們的下一個問題來自與 Evercore 的 C.J. Muse。

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

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

  • A question on the NAND side.

    NAND方面的一個問題。

  • Can you speak to what's driving the better than seasonal demand in Q1?

    您能否談談是什麼推動了第一季度的季節性需求?

  • And then beyond March, how are you thinking about changes in your mix?

    然後在三月之後,你如何看待你的組合變化?

  • And what impact that will have on your gross margins?

    這將對您的毛利率產生什麼影響?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • So I'll take -- I'll give you a perspective, and share Bob's perspective as well.

    所以我會採取 - 我會給你一個觀點,並分享鮑勃的觀點。

  • So we've been talking about retail for several quarters now.

    所以我們現在已經談論了幾個季度的零售。

  • It's been good.

    一直很好。

  • The team has been doing a great job launching new products.

    該團隊在推出新產品方面做得很好。

  • I talked about WD Black in the gaming segment, ArmorLock, security and enterprise SSD.

    我在遊戲領域、ArmorLock、安全和企業 SSD 中談到了 WD Black。

  • So lot of really good work there.

    那裡有很多非常好的工作。

  • And so that continue -- we expect that there's momentum there, let me put it that way.

    所以繼續 - 我們預計那裡有動力,讓我這樣說。

  • PC, notebook demand, we still see as being strong.

    PC、筆記本的需求,我們仍然認為是強勁的。

  • And we talked about what I think was a significant milestone for us this past quarter was finishing the qualification of our second-generation NVMe enterprise SSD product at one of the cloud titans.

    我們談到了我認為上個季度對我們來說是一個重要的里程碑,即在雲巨頭之一完成了我們的第二代 NVMe 企業 SSD 產品的認證。

  • And that finished right at the end of the quarter, and we started shipping.

    這在本季度末完成,我們開始發貨。

  • So that's accretive as well.

    所以這也是增值的。

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes, I don't have a lot to add.

    是的,我沒有太多要補充的。

  • I mean I think it's -- retail continues to be strong in this work-from-home environment, and the enterprise SSD business will just keep picking up.

    我的意思是我認為,在這種在家工作的環境中,零售業繼續保持強勁勢頭,企業 SSD 業務將繼續增長。

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

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

  • And just to follow-up on how you're thinking about mix beyond the current quarter and what the implications are for margins.

    並且只是跟進您如何考慮當前季度之外的混合以及對利潤率的影響。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Well, I mean say a little more.

    好吧,我的意思是多說一點。

  • I mean we're still -- I mean we still have a -- I would say we're focused on a balanced portfolio.

    我的意思是我們仍然 - 我的意思是我們仍然有 - 我會說我們專注於平衡的投資組合。

  • I mean we're clearly working on improving our position on enterprise SSD.

    我的意思是,我們顯然正在努力提高我們在企業級 SSD 上的地位。

  • That's been a big goal for the company for -- even before I got here.

    這對公司來說是一個很大的目標——甚至在我來到這里之前。

  • And our second-generation product is things are going well.

    我們的第二代產品進展順利。

  • I think 150 qualifications now, including one of the big cloud players, which is a good breakthrough.

    我覺得現在有150個資格,包括一個大的雲玩家,這是一個很好的突破。

  • We're still -- client SSD is obviously a strength for the company and has been for a while.

    我們仍然 - 客戶端 SSD 顯然是公司的優勢,並且已經有一段時間了。

  • We talked about gaming last quarter.

    我們上個季度談到了遊戲。

  • And then mobile, we still have a healthy mix into mobile.

    然後是移動設備,我們仍然可以健康地融入移動設備。

  • I think we're under-indexed to the market, but we're still in that market because it's very, very important to be in that market.

    我認為我們的市場指數不足,但我們仍在那個市場,因為進入那個市場非常非常重要。

  • So I expect a balanced mix across that.

    所以我希望在這方面有一個平衡的組合。

  • And then you mix in some IoT and automotive, and you get most of the portfolio.

    然後你混合一些物聯網和汽車,你就得到了大部分的投資組合。

  • Operator

    Operator

  • And our next question comes from the line of Sidney Ho with Deutsche Bank.

    我們的下一個問題來自德意志銀行的 Sidney Ho。

  • Shek Ming Ho - Director & Senior Analyst

    Shek Ming Ho - Director & Senior Analyst

  • Great.

    偉大的。

  • The question I have is on NAND.

    我的問題是關於 NAND。

  • It's good to see NAND margins improving and price decline moderating.

    很高興看到 NAND 利潤率提高且價格下降放緩。

  • How do you see industry supply/demand balance for the rest of the year maybe compared to what you think a quarter ago?

    與您認為的季度前相比,您如何看待今年剩餘時間的行業供需平衡?

  • And how do you see your own bit shipment growth this calendar year and kind of the shape of that for the rest of this year?

    您如何看待本日曆年自己的比特出貨量增長以及今年剩餘時間的形狀?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • I guess what we would say about investment in the industry is we're pretty much where we've been, which we think the industry has been pretty good about this.

    我想我們對這個行業的投資要說的是,我們幾乎處於我們曾經去過的地方,我們認為這個行業在這方面做得很好。

  • I mean there's a lot of variability on investment on supplier by supplier.

    我的意思是供應商對供應商的投資存在很大差異。

  • Capital cycles vary.

    資本週期各不相同。

  • Even no transitions within each supplier vary about how much capital require -- how much capital is required.

    甚至每個供應商內部的過渡都不會因需要多少資金而異——需要多少資金。

  • In our case, BiCS5 is a very capital-efficient node.

    在我們的案例中,BiCS5 是一個非常節省資金的節點。

  • BiCS6 will require a little more capital.

    BiCS6 將需要更多的資金。

  • We'll talk about that when we get there.

    當我們到達那裡時,我們會談論這個。

  • So we still see a pretty good balance.

    所以我們仍然看到了一個很好的平衡。

  • We see strong demand drivers.

    我們看到強勁的需求驅動因素。

  • We see -- I think we see bit growth this year, probably low 30s, low to mid-30s, and we see demand above that.

    我們看到 - 我認為我們今年看到了一些增長,可能在 30 多歲、30 多歲到中期,我們看到需求高於此。

  • So I think nothing we're seeing in the environment surprises us tremendously.

    所以我認為我們在環境中看到的任何東西都不會讓我們感到非常驚訝。

  • Operator

    Operator

  • And our next question comes from the line of Patrick Ho with Stifel.

    我們的下一個問題來自 Patrick Ho 與 Stifel 的對話。

  • J. Ho - MD of Technology Sector

    J. Ho - MD of Technology Sector

  • Dave, maybe qualitatively, now that you've been at the company for almost a year, without the, I guess, financial quantification, with the 2 businesses now separated, where do you see the most improvement in the time that you've been here so far?

    戴夫,也許是定性的,既然你已經在公司工作了將近一年,我猜,沒有財務量化,現在這兩個業務分開了,你在哪裡看到了你一直以來最大的進步到這里為止?

  • Is it in the R&D side of things?

    是在研發方面嗎?

  • Are you more efficient there, manufacturing supply chain?

    你在那裡更有效率嗎,製造供應鏈?

  • Where are you seeing the most gains?

    你在哪裡看到最大的收穫?

  • And where do you think, as you go into your second year, you see more opportunities to improve?

    你認為,隨著你進入第二年,你會在哪裡看到更多改進的機會?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • So I guess what I would say is, first of all, it's been an extraordinary 10 months and especially to join the company at the beginning of a global pandemic that I don't -- that hasn't happened in our lifetimes, at least not mine.

    所以我想我想說的是,首先,這是一個非同尋常的 10 個月,尤其是在我沒有發生的全球大流行開始時加入公司——至少在我們有生之年沒有發生過不是我的。

  • And so I think it's been -- it's just been extremely impressive to see how the company has responded to that and the evolution of that in the early days, a lot of issues on the supply side that have just been completely worked out and things are running extremely well.

    所以我認為它是 - 看到公司如何應對這一問題以及早期的演變,這是非常令人印象深刻的,供應方面的許多問題剛剛完全解決,事情正在運行得非常好。

  • I think we've made a lot of progress on the -- what -- just what you said, really understanding where the synergies of this portfolio are, which are on the go-to-market side, the fact that we bring a broader solution to our customers.

    我認為我們在 - 什麼 - 就是你所說的方面取得了很大進展,真正了解了這個產品組合的協同作用在哪裡,在上市方面,我們帶來了更廣泛的事實為我們的客戶提供解決方案。

  • And I think we understand our customers' requirements well given that we can play in both the drive market and the flash market, but that they're very different products and driving the road maps up.

    而且我認為我們非常了解客戶的需求,因為我們可以在驅動器市場和閃存市場中發揮作用,但它們是非常不同的產品,並且推動了路線圖的發展。

  • I mean the technology is extremely important and to separate those in the BU.

    我的意思是技術是非常重要的,並且將那些在 BU 中分開。

  • And I think we're -- it's still pretty early, but the impact of having 2 very accomplished leaders join an already strong team, it just has an immediate impact on clarifying the road map, understanding where we're investing our R&D dollars, engaging with customers in a way that can drive the portfolio.

    而且我認為我們現在還很早,但是讓兩個非常有成就的領導者加入一個已經很強大的團隊的影響,它對澄清路線圖有直接的影響,了解我們在哪裡投資研發資金,以可以推動投資組合的方式與客戶互動。

  • So I think we've made really good progress there, but I think it'll continue to get better as we go when these leaders get -- and the groups get more established.

    因此,我認為我們在這方面取得了非常好的進展,但我認為當這些領導者變得更加成熟時,它會繼續變得更好 - 並且團隊變得更加成熟。

  • And then the other thing I'll say, which is not really something that I expect to get better, I think it's something that I just always want to reinforce is the value of the partnership with Kioxia.

    然後我要說的另一件事,我並不期望會變得更好,我認為我一直想強調的是與鎧俠合作的價值。

  • And I've spent -- given I can't travel, we still spend a lot of time with the leadership there.

    而且我已經花了 - 鑑於我不能旅行,我們仍然花了很多時間與那裡的領導層在一起。

  • Obviously, our teams work together on a day-by-day basis.

    顯然,我們的團隊每天都在一起工作。

  • I'm not saying -- I'm not pointing this out because it works extraordinarily well, and it's just a tremendous strength of the company, and it's been really great for me to be a part of it over the last 10 months.

    我不是說——我沒有指出這一點,因為它運行得非常好,這只是公司的巨大優勢,在過去的 10 個月裡成為其中的一員對我來說真的很棒。

  • Operator

    Operator

  • Our next question comes from the line of Mitch Steves with RBC Capital Markets.

    我們的下一個問題來自 RBC Capital Markets 的 Mitch Steves。

  • Mitchell Toshiro Steves - Analyst

    Mitchell Toshiro Steves - Analyst

  • I had 2 questions.

    我有 2 個問題。

  • I'm actually going to focus a little bit more on the hard disk drive side.

    我實際上將更多地關注硬盤驅動器方面。

  • So first is just kind of on the margins.

    所以第一個只是在邊緣。

  • If I look at the kind of the run rate of the business right now and I compare it to 2018, it was back then, it was kind of a 27% gross margin business on roughly $2 billion of revenue.

    如果我現在看一下該業務的運行率,並將其與 2018 年進行比較,那是在當時,它的毛利率為 27%,收入約為 20 億美元。

  • So if I assume that COVID-related headwinds and kind of the supply chain issues were about 100 basis points of headwind to gross margin, am I roughly accurate there?

    因此,如果我假設與 COVID 相關的不利因素和供應鏈問題對毛利率的不利影響約為 100 個基點,那麼我是否大致準確?

  • So I'll start with that one, I have a follow-up after that.

    所以我會從那個開始,之後我會跟進。

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes, I think it's closer to 170 basis points of headwind.

    是的,我認為它接近逆風的 170 個基點。

  • Mitchell Toshiro Steves - Analyst

    Mitchell Toshiro Steves - Analyst

  • So the number would have been kind of 27.2%, 27.3% in that rough range?

    所以這個數字應該是 27.2%,在那個粗略的範圍內是 27.3%?

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes.

    是的。

  • Yes, that's correct.

    對,那是正確的。

  • Mitchell Toshiro Steves - Analyst

    Mitchell Toshiro Steves - Analyst

  • Okay.

    好的。

  • And then secondly, you guys used to disclose a little bit more detail on the non-compute units.

    其次,你們過去常常透露一些關於非計算單元的細節。

  • I think those were up pretty significantly Q-over-Q, 8.2 going to 10.1.

    我認為這些都比 Q 顯著增加,從 8.2 上升到 10.1。

  • I'm just curious if you can give us any sort of like directionality in -- was it more consumer electronics?

    我只是好奇你是否可以給我們任何類似的方向性——是不是更多的消費電子產品?

  • Or was it more your branded units are doing better for the quarter?

    還是您的品牌單位在本季度表現更好?

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • I don't want to get too much into the specifics.

    我不想過多討論細節。

  • So one of the things we did mention was smart video was up quite a bit sequentially, and that's in the non-compute area.

    因此,我們確實提到的一件事是智能視頻連續增長了很多,那就是在非計算領域。

  • But we're -- just on the hard drive side, on client and notebook, we did really well.

    但是我們 - 只是在硬盤驅動器方面,在客戶端和筆記本電腦上,我們做得非常好。

  • Operator

    Operator

  • And our next question comes from the line of Tom O'Malley with Barclays.

    我們的下一個問題來自巴克萊銀行的 Tom O'Malley。

  • Thomas James O'Malley - Research Analyst

    Thomas James O'Malley - Research Analyst

  • My question is really centered around the transition of the 2 cloud titans with the HD qualifications.

    我的問題實際上是圍繞 2 個具有 HD 資格的雲巨頭的過渡。

  • You said one slipped a little, one came in a bit earlier.

    你說一個滑了一點,一個進來的早一點。

  • Can you talk about what the mix of those transitions kind of net?

    你能談談這些過渡的組合是什麼樣的網絡嗎?

  • You talked about, obviously, the gross margin slipping into the next quarter but then kind of recovering.

    顯然,您談到了毛利率下滑到下個季度,但隨後開始恢復。

  • So we're seeing a bottom there.

    所以我們看到了底部。

  • Do you think that the out quarter is benefiting from this with the one coming in earlier?

    您是否認為由於較早進入的季度而從中受益?

  • Or do you think it's a net negative transaction in the near term?

    或者你認為這是短期內的淨負交易?

  • I just want to get a little bit more color about how it affects the business into March.

    我只是想多了解一下它對 3 月份業務的影響。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes.

    是的。

  • I think -- so if you look in last quarter, there was some business we expected to ship on 18 that we didn't because the qualification wasn't done.

    我認為 - 因此,如果您查看上個季度,我們預計會在 18 日發布一些業務,但我們沒有完成,因為資格尚未完成。

  • And it actually wrapped up, I think, the first week of January.

    我認為,它實際上已經結束了,我認為,一月的第一周。

  • So some of that business mixes into other capacity points, and some of it goes to other suppliers.

    因此,其中一些業務混合到其他容量點,其中一些流向其他供應商。

  • But -- and then in the other qualification that we didn't expect to finish until -- it wasn't -- we didn't -- and the schedule was the end of the -- towards the end of this quarter we're in.

    但是 - 然後在另一個資格賽中,我們預計直到 - 它不是 - 我們沒有 - 而時間表是 - 到本季度末,我們'重新進入。

  • That actually finished sometime last quarter, very smooth.

    這實際上是在上個季度的某個時候完成的,非常順利。

  • So what it says is looking backwards that things could have been a little better if the one would have finished on time, but going -- now they're both behind us.

    所以它說的是向後看,如果一個人能按時完成,事情可能會好一點,但是繼續 - 現在他們都在我們身後。

  • So going forward, we're in a position to start to ship 18s to both of those customers as they ramp the capacity point.

    因此,展望未來,我們將開始向這兩個客戶運送 18s,因為他們提高了容量點。

  • Does that help?

    這有幫助嗎?

  • Operator

    Operator

  • And our next question comes from the line of Harlan Sur with JPMorgan.

    我們的下一個問題來自摩根大通的 Harlan Sur。

  • Harlan Sur - Senior Analyst

    Harlan Sur - Senior Analyst

  • On the gross margins on the Flash side of the business, good to see the inflection in gross margins in December.

    在 Flash 業務的毛利率方面,很高興看到 12 月份毛利率的拐點。

  • As you guys mentioned, startup costs are coming out here in the March quarter.

    正如你們提到的,啟動成本將在 3 月季度出現。

  • So that's about 150, 175 basis points gross margin tailwind to NAND.

    因此,NAND 的毛利率約為 150、175 個基點。

  • And then on top of that, you're seeing better pricing trends and maybe getting a little bit of benefit from the higher-margin trends from your initial shipments of your Gen 2 NVMe products.

    最重要的是,您會看到更好的定價趨勢,並且可能從您的第 2 代 NVMe 產品的初始出貨量中獲得更高利潤的趨勢中獲得一點好處。

  • So are gross margins approaching 30% here in the March quarter?

    那麼第三季度的毛利率是否接近 30%?

  • Or maybe if you could just help me understand some of the puts and takes on gross margins for NAND.

    或者,如果您能幫助我了解 NAND 的一些看跌期權和毛利率。

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes.

    是的。

  • So Harlan, I mean you talked about a number of the moving parts.

    所以哈倫,我的意思是你談到了一些活動部分。

  • And we're definitely, as I said earlier, expecting gross margins to improve on the Flash side.

    正如我之前所說,我們肯定預計 Flash 方面的毛利率會有所提高。

  • We saw in the last quarter, I'd say, very -- good pricing trends in the transactional markets.

    我想說,我們在上個季度看到了交易市場非常好的定價趨勢。

  • In the OEM markets, we negotiate one quarter a time.

    在 OEM 市場,我們每季度協商一次。

  • So it's -- and we did that, obviously, in the middle of last quarter.

    所以它是 - 我們顯然是在上個季度中期這樣做的。

  • So it's a little hard to say how much we'll see there.

    所以很難說我們會在那裡看到多少。

  • And then we're continuing to do a good job on the other part of the equation, which is cost reduction.

    然後我們繼續在等式的另一部分做得很好,那就是降低成本。

  • We still think we're very confident in our 15% year-over-year cost decline.

    我們仍然認為我們對 15% 的同比成本下降非常有信心。

  • So I think it's just a question of how pricing plays out as we move forward, but I think we're in a very good place.

    所以我認為這只是我們前進時定價如何發揮作用的問題,但我認為我們處於一個非常好的位置。

  • Harlan Sur - Senior Analyst

    Harlan Sur - Senior Analyst

  • Yes.

    是的。

  • Absolutely.

    絕對地。

  • And just a follow-up.

    只是一個後續行動。

  • So many of the suppliers of your HDD and SSD controller chips are seeing tightness in wafer supply, assembly and test capacity.

    您的許多 HDD 和 SSD 控制器芯片供應商都看到晶圓供應、組裝和測試能力緊張。

  • Are your shipments here in the March quarter potentially being somewhat held back because of lack of controller availability from some of your merchant or ASIC controller chip suppliers?

    由於您的某些商家或 ASIC 控制器芯片供應商缺乏控制器可用性,您在 3 月季度的出貨量是否可能會受到一定程度的阻礙?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes, there's no doubt things are tight, and we're not immune from that.

    是的,毫無疑問,事情很緊張,我們也不能倖免。

  • I mean, clearly, we have our financial plan covered with components.

    我的意思是,很明顯,我們的財務計劃涵蓋了各個組成部分。

  • But when you do go looking for things from the semiconductor supply chain, it is tight right now.

    但是,當您確實從半導體供應鏈中尋找東西時,現在很緊張。

  • So we'll see how it plays out during the quarter.

    因此,我們將看看它在本季度的表現如何。

  • Operator

    Operator

  • And our next question comes from the line of Nik Todorov with Longbow Research.

    我們的下一個問題來自 Longbow Research 的 Nik Todorov。

  • Nikolay Todorov - Analyst

    Nikolay Todorov - Analyst

  • I understand, David, I think you talked about seeing continued momentum in retail and PCs.

    我明白,大衛,我想你談到了零售和個人電腦的持續發展勢頭。

  • But maybe we can extend a little bit.

    但也許我們可以擴展一點。

  • I would like to hear your thoughts about how you see those trends persisting as we look forward.

    我想听聽您對我們如何看待這些趨勢持續存在的看法。

  • I know visibility is probably not as good.

    我知道能見度可能不太好。

  • But I just want to hear your thoughts, how you're thinking as we go into the following quarters, the demand from PCs and retail and work-from-home specifically.

    但我只是想听聽你的想法,在我們進入接下來的幾個季度時你的想法,特別是個人電腦、零售和在家工作的需求。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes.

    是的。

  • I mean it's obviously a very dynamic environment with the pandemic and seeing resurgence in certain parts of the world and more lockdowns in parts of the world.

    我的意思是,這顯然是一個非常動態的環境,大流行病在世界某些地區死灰復燃,在世界部分地區出現更多封鎖。

  • So it's hard to call it more than one quarter a time.

    所以很難一次調用它超過四分之一。

  • We guide one quarter at a time, but I think I understand your question a little bit broader.

    我們一次指導一個季度,但我想我對您的問題的理解更廣泛一些。

  • I guess what I would say is in retail, we've really just dialed in like how to deal with this environment we're in and the dynamic nature of it.

    我想我要說的是零售業,我們真的只是撥通瞭如何處理我們所處的這種環境以及它的動態性質。

  • And I think that the new products that we've been launching have been well received.

    我認為我們推出的新產品很受歡迎。

  • Again, I mean the WD Black gaming product, we're doing co-branding with other folks.

    同樣,我的意思是 WD Black 遊戲產品,我們正在與其他人進行聯合品牌推廣。

  • We introduced a product around security and storage that I think is going to be good for us.

    我們推出了一款我認為對我們有益的安全和存儲產品。

  • So a lot of investment in the brands, which are strong, make sure we keep share voice high.

    因此,對強大的品牌進行大量投資,確保我們保持較高的份額。

  • And it has been an area where we've been able to get some momentum and keep some momentum, I think, going a couple of quarters back.

    這是一個我們能夠獲得一些動力並保持一些動力的領域,我認為,可以追溯到幾個季度。

  • So but it is, to your point, it's very dynamic given the COVID situation and the lockdown.

    因此,就您而言,鑑於 COVID 情況和封鎖,這是非常動態的。

  • So we'll see above seasonality performance.

    所以我們會看到上面的季節性表現。

  • Q1 is a seasonally weak quarter for retail, but we're planning to do a little bit better than that.

    第一季度是零售業季節性疲軟的季度,但我們計劃做得比這更好一些。

  • Operator

    Operator

  • And our next question comes from the line of Ananda Baruah with Loop Capital.

    我們的下一個問題來自 Loop Capital 的 Ananda Baruah。

  • Ananda Prosad Baruah - MD

    Ananda Prosad Baruah - MD

  • Yes, I guess if I could just go back to the gross margins on the flash side.

    是的,我想如果我能回到閃存方面的毛利率。

  • Longer term, intermediate- to a longer-term view, you guys see a path to sustainably greater than 30% margins?

    從長遠來看,從中長期來看,你們看到了可持續超過 30% 利潤率的道路嗎?

  • I think you've talked about it in the past.

    我想你過去已經談過了。

  • And if so, what are the kind of signposts or mechanisms that need to manifest to have that be the case?

    如果是這樣,需要表現出什麼樣的路標或機制才能做到這一點?

  • Appreciate it.

    欣賞它。

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes, I guess I can start with that.

    是的,我想我可以從那開始。

  • And again, as we all know, a lot of this depends on the supply and demand and what's going on with the industry.

    再說一次,眾所周知,這在很大程度上取決於供求關係以及該行業的情況。

  • We've been encouraged, as we said, about the pricing in the transactional markets over the last few months.

    正如我們所說,我們對過去幾個月交易市場的定價感到鼓舞。

  • As we move forward, we're pretty confident on the demand side for the year.

    隨著我們向前邁進,我們對今年的需求方面非常有信心。

  • I mean there's just obviously a big demand on the mobile side.

    我的意思是移動端顯然有很大的需求。

  • We think we're going to see very good demand on the enterprise SSDs.

    我們認為我們將看到對企業級 SSD 的非常好的需求。

  • We've already had a strong position on client SSDs.

    我們已經在客戶端 SSD 上佔有一席之地。

  • So we feel pretty confident on the demand side.

    所以我們對需求方面很有信心。

  • And we think the supply side appears to be pretty rational.

    我們認為供應方面似乎相當理性。

  • And I think if that's the case, we should see margins improve from here.

    我認為如果是這樣的話,我們應該會看到利潤率從這裡提高。

  • But I don't want to put a particular milestone or a particular goal out there, but I think it's going to be a pretty good market in 2021.

    但我不想在那裡設定一個特定的里程碑或特定目標,但我認為 2021 年這將是一個相當不錯的市場。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes, I think we've been signaling that about 2021 for a couple of quarters now.

    是的,我認為我們已經在 2021 年左右發出了幾個季度的信號。

  • Again, we don't want to get ahead of ourselves.

    同樣,我們不想超越自己。

  • We do have more exposure to the transactional markets, which helps when things start going in a positive direction, but it's got to flow through to the negotiated market still, and we'll see how that plays out over the next couple of quarters.

    我們確實對交易市場有更多的敞口,這在事情開始朝著積極的方向發展時會有所幫助,但它仍然必須流向談判市場,我們將在接下來的幾個季度中看到這將如何發揮作用。

  • The other thing I'll highlight on this is really important, and Bob touched on earlier, is just make sure we maintain our cost position.

    我要強調的另一件事非常重要,Bob 之前提到過,就是確保我們保持成本頭寸。

  • And as I've highlighted a couple of times in the prepared remarks and what I said earlier, with our partner, Kioxia, we're the largest provider of NAND flash memory in the industry.

    正如我在準備好的評論中以及我之前所說的那樣多次強調,與我們的合作夥伴鎧俠一起,我們是業內最大的 NAND 閃存供應商。

  • We jointly develop our technology road map, so we're heavily invested in that.

    我們共同製定了我們的技術路線圖,因此我們對此進行了大量投資。

  • We believe we've got tremendous technology that allows us to deliver the power performance bits we need.

    我們相信我們擁有強大的技術,可以讓我們提供所需的功率性能位。

  • You see our technology is lower layer count than others.

    您會看到我們的技術比其他技術的層數更少。

  • That means it's more efficient process.

    這意味著它是更有效的過程。

  • So we feel good about that, that sets us up to continue to drive the 15% year-over-year cost declines.

    因此,我們對此感覺良好,這使我們能夠繼續推動 15% 的同比成本下降。

  • So we got to make sure we keep our eye on that side of the equation as well.

    所以我們必須確保我們也關注等式的那一側。

  • Operator

    Operator

  • And our next question comes from the line of Jim Suva with Citigroup Investments.

    我們的下一個問題來自花旗投資的 Jim Suva。

  • James Dickey Suva - MD & Research Analyst

    James Dickey Suva - MD & Research Analyst

  • You have implemented a more tightly focus on your 2 different segments, Flash and HDD segment, and kind of have been out for a little bit now.

    您已經更緊密地關注您的 2 個不同的段,Flash 和 HDD 段,現在已經有一段時間了。

  • Have they, those leaders, done the work to where we're actually seeing the fruit of all their efforts now?

    他們,這些領導者,是否已經完成了我們現在真正看到他們所有努力成果的工作?

  • Or are they still kind of implementing a lot of those and the fruit still have to be rolled out of their efforts?

    還是他們仍然在實施很多這些措施,而且他們的努力仍然需要取得成果?

  • Because it seems like prior to this, Western Digital has been very much known for a company that sometimes executes very well and other times has a few slip-ups.

    因為似乎在此之前,Western Digital 以一家有時執行得很好,有時卻有一些失誤的公司而聞名。

  • So I'm just trying to figure out, are we at the midpoint of them implementing all their changes in the early innings?

    所以我只是想弄清楚,我們是否處於他們在早局實施所有變化的中點?

  • Or are we actually at the point now where what they found and discovered and wanted to align that we should expect going forward?

    或者我們現在是否真的處於他們發現和發現並想要與我們應該期待的未來保持一致的地步?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes, Jim, I think that -- so first of all, I think we see benefits of -- any time you add 2 leaders to your business that are run multi $10 billion portfolios in the technology space, you're going to get an immediate benefit from that.

    是的,吉姆,我認為——首先,我認為我們看到了好處——任何時候你在你的企業中增加 2 位領導者,他們在技術領域擁有價值 100 億美元的投資組合,你將獲得一個立即從中受益。

  • You just have 2 more very, very senior business leaders that are looking at the portfolio every day, that are engaging with customers every day, reviewing engineering products every day and providing a level of perspective that is highly developed.

    您還有 2 位非常非常資深的業務負責人,他們每天都在查看產品組合,每天與客戶互動,每天審查工程產品並提供高度發達的觀點。

  • And their main job is to integrate all the different pieces together into a business.

    他們的主要工作是將所有不同的部分整合到一個業務中。

  • So you're going to see an immediate benefit of that, and we have.

    因此,您將立即看到這樣做的好處,而我們確實做到了。

  • But then they're going to start working on, okay, I'm going to start looking at the road map of our products and make sure I've got the right fit, I'm investing in the right places.

    但隨後他們將開始工作,好吧,我將開始查看我們產品的路線圖,並確保我有合適的選擇,我正在對的地方進行投資。

  • To me, your technology road map is kind of like an articulation of the future value of your company.

    對我來說,你的技術路線圖有點像你公司未來價值的表達。

  • What markets are you going to be in?

    你將進入哪些市場?

  • Where are you going to invest?

    你打算在哪裡投資?

  • And the time line for those payouts are different -- there's different time horizons to that.

    這些支付的時間線是不同的——有不同的時間範圍。

  • So if you come into a technology franchise and you own it and you're in the middle of a big engagement with a customer, for example, you now have another person that can get involved in that process and understands immediately how to engage in that in a very senior way, how to communicate information, how to guide their teams, and so I think you'll see an immediate benefit.

    因此,如果您進入一家技術專營權並擁有它,並且您正與客戶進行大規模互動,例如,您現在有另一個人可以參與該流程並立即了解如何參與該流程以一種非常高級的方式,如何交流信息,如何指導他們的團隊,所以我認為你會看到立竿見影的好處。

  • There's other parts of it where we're making decisions on what products are going to come to market in 2 years from now or 3 years from now.

    還有其他部分,我們正在決定哪些產品將在 2 年後或 3 年後上市。

  • And so their job is to really integrate over all of those time horizons and get the best results, given the investment we put in the business.

    因此,考慮到我們對業務的投資,他們的工作是真正整合所有這些時間範圍並獲得最佳結果。

  • So we've seen benefits already, but there will be more to come.

    所以我們已經看到了好處,但還會有更多好處。

  • And I think you will see crisper execution, and you'll see that the portfolio is optimized to give us the best return for the investment we're making.

    而且我認為您會看到更清晰的執行,並且您會看到投資組合經過優化,可以為我們正在進行的投資提供最佳回報。

  • Operator

    Operator

  • And our next question comes from the line of Karl Ackerman with Cowen.

    我們的下一個問題來自 Karl Ackerman 和 Cowen 的觀點。

  • Karl Ackerman - Director & Senior Research Analyst

    Karl Ackerman - Director & Senior Research Analyst

  • I had a question just on, I guess, your Hard Drive business.

    我想我對您的硬盤業務有疑問。

  • Your peer spoke about a recovery in data center in the first half of the year, and I'm curious if that resonates with you such that you could achieve 35% x by growth for your nearline business in fiscal 2021.

    您的同行談到了今年上半年數據中心的複蘇,我很好奇這是否會引起您的共鳴,以便您可以在 2021 財年實現近線業務增長 35% x。

  • And I was also hoping you could juxtapose what you're seeing across on-prem and cloud within that nearline business.

    而且我還希望您可以將您在該近線業務中的本地和雲中看到的內容並列。

  • And then I guess, thirdly, if I may, I was hoping if you can achieve that 35% x by growth, can you do that with your existing capacity today?

    然後我想,第三,如果可以的話,我希望如果你能通過增長實現 35% x,你能用你今天的現有能力做到這一點嗎?

  • Or if you could touch on your capacity expansion plans as well.

    或者,如果您也可以談談您的產能擴張計劃。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • So I think your first part of the question was about what are we seeing when you say enterprise on-prem market.

    所以我認為你問題的第一部分是關於當你說企業本地市場時我們看到了什麼。

  • So...

    所以...

  • Karl Ackerman - Director & Senior Research Analyst

    Karl Ackerman - Director & Senior Research Analyst

  • Nearline, specifically.

    特別是近線。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes, nearline.

    是的,近線。

  • I would say it's -- I think the term I used in the prepared remarks was stabilization of the enterprise of the OEM market, and I think that's kind of how we're seeing it.

    我想說的是——我認為我在準備好的評論中使用的術語是穩定 OEM 市場的企業,我認為這就是我們的看法。

  • It's on or above forecast of what our customers are telling us.

    它在或高於我們的客戶告訴我們的預測。

  • So it looks better.

    所以看起來更好。

  • I wouldn't -- it's certainly not pre-COVID yet.

    我不會——它肯定還不是 COVID 之前的事。

  • And it's easier to judge going forward but not back to where it was, and that's not surprising given the environment we're in.

    而且更容易判斷前進而不是回到原來的位置,鑑於我們所處的環境,這並不奇怪。

  • As far as the cloud, we talked about different cloud providers come out of digestion at different rates throughout the year.

    就雲而言,我們談到了不同的雲提供商全年以不同的速度消化。

  • And then as far as exabyte growth, we see that 32%, 35% in that range, exabyte growth.

    然後就艾字節增長而言,我們看到 32%、35% 在該範圍內,艾字節增長。

  • I think that's been the long-term growth of the industry.

    我認為這是該行業的長期增長。

  • We see that going forward.

    我們看到了這一點。

  • Again, I think coming out of the pandemic, we'll see does that line tilt up or not, given the dependence on technology in the cloud that we all see, but we have yet to see that.

    再一次,我認為從大流行中走出來,我們會看到這條線是否向上傾斜,因為我們都看到了對雲技術的依賴,但我們還沒有看到。

  • So we see good growth in the capacity enterprise business as we move through the year.

    因此,隨著這一年的發展,我們看到容量企業業務的良好增長。

  • Operator

    Operator

  • And our next question comes from the line of Srini Pajjuri with SMBC Nikko.

    我們的下一個問題來自於 SMBC Nikko 的 Srini Pajjuri。

  • Srinivas Reddy Pajjuri - Research Analyst

    Srinivas Reddy Pajjuri - Research Analyst

  • First, I have a clarification for Bob.

    首先,我要澄清一下鮑勃。

  • Bob, on the client devices growing 10%, you said the desktop and notebook grew 20% and video grew 30% and there was an issue in China.

    Bob,在增長 10% 的客戶端設備上,您說台式機和筆記本電腦增長了 20%,視頻增長了 30%,在中國出現了問題。

  • Just trying to understand what that was in mobile in China that you're referring to.

    只是想了解您所指的中國移動設備是什麼。

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes, it was actually Huawei, which we talked about last quarter, and so we're not shipping to Huawei either on the flash side or on the hard drive side.

    是的,實際上是我們上個季度談到的華為,因此我們不會在閃存端或硬盤端向華為發貨。

  • Operator

    Operator

  • And our next question comes from the line of Shannon Cross with Cross Research.

    我們的下一個問題來自 Cross Research 的 Shannon Cross。

  • Shannon Siemsen Cross - Co-Founder, Principal & Analyst

    Shannon Siemsen Cross - Co-Founder, Principal & Analyst

  • I just had a question on CapEx.

    我剛剛對資本支出有疑問。

  • It seems as if you've shifted a little bit more, I think, from cash CapEx into the flash ventures.

    我認為,您似乎已經從現金資本支出轉移到了快閃企業中。

  • And I'm just curious how we should think about that, if there's anything there.

    我只是好奇我們應該如何考慮這個問題,如果有的話。

  • And then also, what are your thoughts on the amount of CapEx that's going to be needed over the next few years as you look at, hopefully, an improving market?

    然後,您對未來幾年所需的資本支出數量有何看法,希望市場有所改善?

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • Yes.

    是的。

  • No, it's a good question.

    不,這是個好問題。

  • And first of all, what I would say is in terms of gross CapEx, which we define as the -- our portion of the investments that are made in the flash joint ventures as well as investments we make on our own balance sheet for the back end of the Flash business as well as the Hard Drive business, we expect gross CapEx of around $3 billion this year, and that's been -- what I've said the last couple of quarters.

    首先,我要說的是總資本支出,我們將其定義為 - 我們在閃存合資企業中進行的投資部分以及我們在自己的資產負債表上進行的投資隨著閃存業務和硬盤業務的結束,我們預計今年的總資本支出約為 30 億美元,這就是我在過去幾個季度所說的。

  • What's a little different this year relative to last year is that we are investing more on the Hard Drive side.

    今年與去年略有不同的是,我們在硬盤方面投入了更多。

  • As we look out over the next few years, I mean the first priority is always going to be reinvest in the business, and so we'll see how the growth goes over the next few years and make sure that we're investing to support the growth in the market.

    正如我們對未來幾年的展望,我的意思是,首要任務始終是對業務進行再投資,因此我們將了解未來幾年的增長情況,並確保我們正在投資以支持市場的增長。

  • But I think probably where we're at right now is about what I would think about for the future.

    但我認為我們現在所處的位置可能是關於我對未來的看法。

  • Operator

    Operator

  • Our last question comes from the line of Steven Fox with Fox Advisors.

    我們的最後一個問題來自 Steven Fox 與 Fox Advisors 的對話。

  • Steven Bryant Fox - Founder & CEO

    Steven Bryant Fox - Founder & CEO

  • Can you just maybe broadly talk about your thinking around edge cloud compute for 2021?

    您能否大致談談您對 2021 年邊緣雲計算的看法?

  • It seems like based on what the service providers are talking about that this could be a year where it starts to pick up noticeably.

    似乎根據服務提供商的說法,這可能是它開始顯著回升的一年。

  • And so where do you think you're going to play with NVMe drives versus HDDs?

    那麼你認為你會在哪裡使用 NVMe 驅動器而不是 HDD 呢?

  • And how you think you're positioned competitively?

    您認為自己在競爭中的定位如何?

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • Yes.

    是的。

  • I mean, I think that's potentially a very deep conversation.

    我的意思是,我認為這可能是一次非常深入的對話。

  • So how are we positioned?

    那麼我們是如何定位的呢?

  • I think we're positioned actually quite well because we can play in -- if it's -- a lot of the heavy lifting of big time storage is HDDs and will be for a long time.

    我認為我們的定位實際上非常好,因為我們可以在 - 如果是的話 - 大量繁重的大型存儲是 HDD 並且將持續很長時間。

  • But obviously, enterprise SSD is going to be a big growing market there as well, and that's why we're so focused on our NVMe enterprise SSD.

    但顯然,企業級 SSD 也將成為一個巨大的增長市場,這就是我們如此專注於 NVMe 企業級 SSD 的原因。

  • As far as how the architecture of the cloud plays out, I mean, clearly, as we have more devices that are enabled at the edge, I think you're going to see more points of compute and storage that get closer to that.

    至於雲的架構如何發揮作用,我的意思是,很明顯,隨著我們在邊緣啟用更多設備,我認為你會看到更多的計算和存儲點更接近這一點。

  • I agree with you, this could be -- it could be getting closer.

    我同意你的看法,這可能是——它可能越來越近了。

  • It's been talked about for a while.

    已經談了一段時間了。

  • But I think this is something that's so exciting about our business.

    但我認為這對我們的業務來說非常令人興奮。

  • I mean the whole world is more technology-enabled.

    我的意思是整個世界都更加技術化。

  • I think the pandemic accelerated that.

    我認為大流行加速了這一點。

  • I think the architectures to support that are going to continue to evolve, and I think we have the portfolio that's well positioned no matter how that plays out.

    我認為支持的架構將繼續發展,而且我認為無論結果如何,我們都擁有定位良好的產品組合。

  • We can play on the edge all the way to the device.

    我們可以一直玩到設備的邊緣。

  • And clearly, we play at the foundation of the cloud as well.

    顯然,我們也在雲的基礎上發揮作用。

  • So it's a fun place to be.

    所以這是一個有趣的地方。

  • Operator

    Operator

  • I would now like to turn the call back over to CEO, Dave Goeckeler, for any closing remarks.

    我現在想將電話轉回給首席執行官 Dave Goeckeler,以聽取任何結束語。

  • David V. Goeckeler - CEO & Director

    David V. Goeckeler - CEO & Director

  • All right, everybody.

    好吧,大家。

  • Thanks for joining us today.

    感謝您今天加入我們。

  • We appreciate it.

    我們很感激。

  • We will see you during the quarter.

    我們將在本季度見到您。

  • Take care.

    小心。

  • Robert K. Eulau - Executive VP & CFO

    Robert K. Eulau - Executive VP & CFO

  • All right.

    好的。

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • This concludes today's conference call.

    今天的電話會議到此結束。

  • Thank you for joining, and you may now disconnect.

    感謝您加入,您現在可以斷開連接。