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Business Segments, Geographic Information, and Concentrations of Risk (Tables) | 9 Months Ended
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Mar. 29, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table summarizes the operating performance of the Company’s reportable segments:
| Three Months Ended |  | Nine Months Ended
| March 29, 2024 |  | March 31, 2023 |  | March 29, 2024 |  | March 31, 2023
| $ in millions
Revenue, net: |  |  |  |  |  |  |
Flash | $ | 1,705 |  |  | $ | 1,307 |  |  | $ | 4,926 |  |  | $ | 4,686 |
HDD | 1,752 |  |  | 1,496 |  |  | 4,313 |  |  | 4,960 |
Total net revenue | $ | 3,457 |  |  | $ | 2,803 |  |  | $ | 9,239 |  |  | $ | 9,646 |
Gross profit: |  |  |  |  |  |  |
Flash | $ | 467 |  |  | $ | (65) |  |  | $ | 437 |  |  | $ | 597 |
HDD | 545 |  |  | 363 |  |  | 1,157 |  |  | 1,237 |
Total gross profit for segments | 1,012 |  |  | 298 |  |  | 1,594 |  |  | 1,834 |
Unallocated corporate items: |  |  |  |  |  |  |
Stock-based compensation expense | (11) |  |  | (12) |  |  | (37) |  |  | (38) |
Amortization of acquired intangible assets | (1) |  |  | — |  |  | (2) |  |  | (1) |
Recovery from contamination incident | 1 |  |  | — |  |  | 37 |  |  | — |
Total unallocated corporate items | (11) |  |  | (12) |  |  | (2) |  |  | (39) |
Consolidated gross profit | $ | 1,001 |  |  | $ | 286 |  |  | $ | 1,592 |  |  | $ | 1,795 |
Gross margin: |  |  |  |  |  |  |
Flash | 27.4 | % |  | (5.0) | % |  | 8.9 | % |  | 12.7 | %
HDD | 31.1 | % |  | 24.3 | % |  | 26.8 | % |  | 24.9 | %
Consolidated gross margin | 29.0 | % |  | 10.2 | % |  | 17.2 | % |  | 18.6 | %
Schedule of Disaggregation of Revenue | The Company’s disaggregated revenue information is as follows:
| Three Months Ended |  | Nine Months Ended
| March 29, 2024 |  | March 31, 2023 |  | March 29, 2024 |  | March 31, 2023
| (in millions)
Revenue by end market |  |  |  |  |  |  |
Cloud | $ | 1,553 |  |  | $ | 1,205 |  |  | $ | 3,496 |  |  | $ | 4,258 |
Client | 1,174 |  |  | 975 |  |  | 3,443 |  |  | 3,293 |
Consumer | 730 |  |  | 623 |  |  | 2,300 |  |  | 2,095 |
Total revenue | $ | 3,457 |  |  | $ | 2,803 |  |  | $ | 9,239 |  |  | $ | 9,646 |
Revenue by geography |  |  |  |  |  |  |
Asia | $ | 1,740 |  |  | $ | 1,353 |  |  | $ | 4,990 |  |  | $ | 4,533 |
Americas | 1,154 |  |  | 935 |  |  | 2,620 |  |  | 3,448 |
Europe, Middle East and Africa | 563 |  |  | 515 |  |  | 1,629 |  |  | 1,665 |
Total revenue | $ | 3,457 |  |  | $ | 2,803 |  |  | $ | 9,239 |  |  | $ | 9,646 |
Schedule of Goodwill | The following table provides a summary of goodwill activity for the period:
| Flash |  | HDD |  | Total
| (in millions)
Balance at June 30, 2023 | $ | 5,716 |  |  | $ | 4,321 |  |  | $ | 10,037 |
Foreign currency translation adjustment | (2) |  |  | (1) |  |  | (3) |
Balance at March 29, 2024 | $ | 5,714 |  |  | $ | 4,320 |  |  | $ | 10,034 |

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