Segment Reporting

9 Months Ended

Apr. 03, 2026

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The following table presents the revenue, segment cost of revenue, significant segment expenses, and other segment items that are reflected in operating income (loss) of the Company’s reportable operating segment under its internal management reporting system, along with a reconciliation to consolidated net income (loss). This presentation aligns with how the CODM reviews financial information, using both operating income (loss) and net income (loss) to evaluate performance and allocate resources.

In the financial information presented below, Segment cost of revenue, Segment research and development and Segment selling, general and administrative consist of Cost of revenue, Research and development and Selling, general and administrative, respectively, as reported in the Company’s Condensed Consolidated Statement of Operations, less stock-based compensation costs allocated to those captions. Additional significant segment expenses include Stock-based compensation and Goodwill impairment. Other segment items includes Loss on debt extinguishment, Business separation costs, Employee termination and other, Loss on business divestiture, and in past comparative periods, Gain on business divestiture.

	Three Months Ended				Nine Months Ended
	April 3, 2026		March 28, 2025		April 3, 2026		March 28, 2025
	(in millions)
Revenue	$	5,950	$	1,695	$	11,283	$	5,454
Segment cost of revenue	(1,284)		(1,310)		(4,380)		(3,728)
Segment research and development	(312)		(265)		(905)		(787)
Segment selling, general and administrative	(136)		(118)		(402)		(350)
Stock-based compensation	(54)		(44)		(165)		(133)
Goodwill impairment	—		(1,830)		—		(1,830)
Other segment items	(53)		(9)		(79)		(21)
Operating income (loss)	4,111		(1,881)		5,352		(1,395)
Total interest and other income (expense), net	(4)		(20)		(184)		(66)
Income tax expense	(492)		(32)		(638)		(157)
Net income (loss)	$	3,615	$	(1,933)	$	4,530	$	(1,618)