Management reiterated that combined order backlog across the current and next architecture generation is tracking toward the trillion-dollar range through 2027, well above what most desks had modeled a year ago. The finance chief flagged that gross margin pressure from ramping new capacity is expected to ease over the next two quarters as yields improve.

Sell-side reaction has stayed constructive: most desks are treating the sector-wide pullback as a rotation rather than a change in the demand picture, since the move tracked peer chip names more than anything ticker-specific.