Quarterly guidance

Revenue
$12.2 billion to $12.6 billion
Non-GAAP Gross Margin
84.5% to 85.5%
Non-GAAP EPS (pre-split)
$55 to $57
Non-GAAP EPS (split-adjusted)
$6.88 to $7.13

Annual guidance

Gross Capital Expenditures
Mid-single-digit percentage of revenue for fiscal year 2027

Outlook

Data Center Demand
Expected to be the engine of growth, representing over 55% of the market with bit demand growing about 40% year-on-year.
NBM Pipeline
The pipeline exceeds supply through the end of the decade.
PC Market
Units are expected to be slightly down next year, but exabytes are expected to grow.
Capital Allocation
The company plans to return 100% of excess cash to shareholders.
Stock Split
An 8-for-1 stock split is approved, with distribution on November 19.
Technology Roadmap
BiCS 9 and BiCS 10 are in development to meet future performance and capacity requirements.
HBF
High-bandwidth flash samples are expected next calendar year.
Automotive
Viewed as a significant long-term growth opportunity within the Edge business.