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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Dec. 27, 2024
Dec. 29, 2023
Dec. 27, 2024
Dec. 29, 2023
Income Statement [Abstract]        
Revenue, net $ 4,285 $ 3,032 $ 8,380 $ 5,782
Cost of revenue 2,769 2,540 5,313 5,191
Gross profit 1,516 492 3,067 591
Operating expenses:        
Research and development 502 444 1,021 875
Selling, general and administrative 238 198 480 405
Gain on business divestiture (113) 0 (113) 0
Business separation costs 44 36 87 36
Litigation matter 0 0 3 0
Employee termination, asset impairment and other (7) 24 (5) 81
Total operating expenses 664 702 1,473 1,397
Operating income (loss) 852 (210) 1,594 (806)
Interest and other expense:        
Interest income 11 12 20 20
Interest expense (95) (108) (194) (206)
Other income (expense), net (27) 47 (51) 51
Total interest and other expense, net (111) (49) (225) (135)
Income (loss) before taxes 741 (259) 1,369 (941)
Income tax expense 147 28 282 31
Net income (loss) 594 (287) 1,087 (972)
Less: dividends allocated to preferred shareholders 4 14 8 29
Less: income attributable to preferred shareholders 9 0 17 0
Net income (loss) attributable to common shareholders $ 581 $ (301) $ 1,062 $ (1,001)
Net income (loss) per common share:        
Basic (in dollars per share) $ 1.68 $ (0.93) $ 3.08 $ (3.09)
Diluted (in dollars per share) $ 1.63 $ (0.93) $ 2.98 $ (3.09)
Weighted average shares outstanding:        
Basic (in shares) 346 325 345 324
Diluted (in shares) 357 325 357 324