Michael Hsing: Good questions, good observation. And towards the end of the last year, it kind of — auto slowed down. But overall, we as Bernie said earlier, we still grow some high 20%, 30% somewhere in the overall — in the auto segment. These are mostly primary — mostly due to the ADS the infotainment or whatever the head units, call it, the digital cockpit. And going for next year we believe we see all the activities and customers and nowadays consuming all these inventories that we shipped and in May or June period times, and now they start to have a higher volume ramp and especially in the EV side. So for this year’s first part of this year.
Bernie Blegen: So I think that there has been some softness that has occurred in Q3 of last — Q3 and Q4 of last year that was observable both for IC and EVs. And as we said in our earlier comments and it applies to automotive, we don’t have great visibility beyond just the next quarter. So it’s hard for us to predict with the second-half of ‘24, the ramp might look like for automotive.
Michael Hsing: Right, the ramp is in the early adoption in EV is very lumpy and a different automakers and ramping in different schedules, I mean — but overall, the trend is they will pull out more EV with more our products.
Rick Schafer: Thanks, Michael. And if I could follow up, I know Quinn was asking about some of the 48-volt stuff. I was curious, I mean, you guys are so dominant on this in second stage 48-volt, and I know you’ve got a stage 1 product now as well. So I didn’t know if you could give us a sense of what your expectations are for share or revenue contribution. However, you’d like to discuss it. But I’m curious sort of what Stage 1 power will do to your content, we’ll do for your — for that enterprise data segment. And I also was curious only because you mentioned it a couple of times, new competition coming in 48-volt. And I was just curious to get your thoughts on if it gets harder or the competition going forward as guys like NVIDIA move from a two-year cadence on new processor development to an annual cadence.
Michael Hsing: All right. Yes. This game is always the best performers. So far, our competition, we don’t — I don’t want to speak our competition. So far, in what we have, okay, and our customers can be very receptive to our solution. So far, we pretty much have a majority of the volumes. And they keep requesting it and keep requesting we solve all these issues related to their system issues, ours and issues from our side. And — so when — even the volume gets even bigger it’s good to have another source. Otherwise, again, you don’t want the MPS, they can all of them. So again, that’s not what we intend to do. And so — and also the competition in — it’s exactly like a server side. And we are the newcomer in the server market back in — a couple of years ago, and that’s how we win the market.
And we had a product long before that. And we also need — we had to dump the down to meet the common footprints. And because the power density is not high enough. And when this AI come out on the market, the common footprint is not a requirement. So we start to win a lot of — a lot of shares. And the same is in the servers and have a very similar trend. And that’s how we win the market. And we always want to do, as we said in the past. We want to pushing the technology. We want to make sure we’re the best.
Rick Schafer: And Michael, any sense of Stage 2 — or sorry, Stage 1 contribution this year for you guys?
Michael Hsing: Yes, okay. We had some issues on the Stage 1s and we had some design wins and very small volumes in different systems, actually. And now we don’t have — all these issues are resolved. That will significantly gain the content. And in each AR systems.
Bernie Blegen: And Stage 1, for us, at least, is represented about 20%, 25% of the dollar content of Stage 2, and we expect to see the incremental ramp from these products in Q1 and Q2.
Michael Hsing: Yes. We had shipping these products for some of the 48-Volt systems. And also, we supply the — we are as a supplier for chip and for the silicon, not for the modules. And now we step up the two modules.
Rick Schafer: Great. Thank you guys.
Genevieve Cunningham: Our next question is from Matt Ramsay of Cowen. Matt, your line is now open.
Matt Ramsay: Thank you very much. Congrats guys. Good afternoon. I’m going to ask both of my questions here together because we got two or three calls going on tonight and I don’t want to end up on two lines. I don’t know that we want to go interweaving earnings calls. But my two questions are the first one, Michael, since you helped found the company, you guys have not been active in M&A traditionally. So I’d be interested to hear a little bit more about the company you’re acquiring the markets that you’re going to go after how that whole deal came together and what the prospects for that new technologies that you may — and people that you may roll into the company. Just any background there.
Michael Hsing: That’s a great question. So otherwise, we are taking to the old AI call.
Matt Ramsay: Just really quickly on my second one, so I’ll go back. Bernie, if you could just help us out with the guidance for March by segment, that would be helpful to make sure we’re all modeling from the same footing.
