Shareholders' Equity and Convertible Preferred Stock (Tables)

3 Months Ended

Oct. 03, 2025

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 items as well as the related tax benefit included in the Company’s Condensed Consolidated Statements of Operations:

	Three Months Ended
	October 3, 2025		September 27, 2024
	(in millions)
RSUs and PSUs	$	49	$	49
ESPP	4		8
Total	$	53	$	57

	Three Months Ended
	October 3, 2025		September 27, 2024
	(in millions)
Cost of revenue	$	9	$	10
Research and development	23		20
Selling, general and administrative	21		27
Subtotal	53		57
Tax benefit	(7)		(6)
Total	$	46	$	51

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 October 3, 2025:

	Unamortized Compensation Costs		Weighted Average Service Period
	(in millions)		(years)
RSUs and PSUs (1)	$	382	2.2
ESPP	19		1.2
Total unamortized compensation cost	$	401

(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 27, 2025	9.7	$	33.56
Granted	2.4	70.89
Vested	(2.0)	34.49		$	154
Forfeited	(0.1)	24.71
RSUs and PSUs outstanding at October 3, 2025	10.0	$	43.12