Shareholders' Equity and Convertible Preferred Stock (Tables)

6 Months Ended

Dec. 27, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Arrangements by Share-based Payment Award

The following tables present the Company’s stock-based compensation for equity-settled awards by type (i.e., restricted stock units (“RSUs”), restricted stock unit awards with performance conditions or market conditions (“PSUs”), and rights to purchase shares of common stock under the Company’s Employee Stock Purchase Plan (“ESPP”)) and financial statement line as well as the related tax benefit included in the Company’s Condensed Consolidated Statements of Operations:

	Three Months Ended				Six Months Ended
	December 27, 2024		December 29, 2023		December 27, 2024		December 29, 2023
	(in millions)
RSUs and PSUs	$	71	$	68	$	143	$	133
ESPP	6		4		18		16
Total	$	77	$	72	$	161	$	149

	Three Months Ended				Six Months Ended
	December 27, 2024		December 29, 2023		December 27, 2024		December 29, 2023
	(in millions)
Cost of revenue	$	12	$	13	$	26	$	26
Research and development	35		32		74		66
Selling, general and administrative	30		27		61		57
Subtotal	77		72		161		149
Tax benefit	(11)		(10)		(21)		(20)
Total	$	66	$	62	$	140	$	129

Schedule of Employee Service Share-based Compensation, Unrecognized Costs

The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of December 27, 2024:

	Unamortized Compensation Costs		Weighted Average Service Period
	(in millions)		(years)
RSUs and PSUs (1)	$	554	2.4
ESPP	57		1.9
Total unamortized compensation cost	$	611

(1)    Weighted average service period assumes the performance conditions are met for the PSUs.

Schedule of RSUs and PSUs

The following table summarizes RSU and PSU activity under the Company’s incentive plans:

	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value at Vest Date
	(in millions)			(in millions)
RSUs and PSUs outstanding at June 28, 2024	13.0	$	44.42
Granted	4.1	62.72
Vested	(4.1)	44.81		$	266
Forfeited	(0.5)	49.53
RSUs and PSUs outstanding at December 27, 2024	12.5	$	51.81