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Segment Reporting, Disaggregated Revenue, Geographic Information, and Concentrations of Risk (Tables) | 12 Months Ended
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Jun. 27, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table is a reconciliation of the Company’s measure of segment profit or loss, significant segment expenses and other segment items:
| 2025 |  | 2024 |  | 2023
| (in millions)
Revenue, net | $ | 9,520 |  |  | $ | 6,317 |  |  | $ | 6,255 |
Less: Significant expenses and other segment items |  |  |  |  |
Cost of revenue(1) | 5,771 |  |  | 4,506 |  |  | 4,827 |
Research and development(1) | 920 |  |  | 885 |  |  | 916 |
Selling, general and administrative(1) | 503 |  |  | 583 |  |  | 656 |
Litigation matter | (179) |  |  | 291 |  |  | — |
Business realignment charges | (6) |  |  | 209 |  |  | 146 |
Stock-based compensation | 167 |  |  | 202 |  |  | 212 |
Strategic review | — |  |  | 38 |  |  | 42 |
Interest expense, net | 312 |  |  | 381 |  |  | 291 |
Loss on retained interest in Sandisk | 772 |  |  | — |  |  | — |
Loss on extinguishment of debt | 100 |  |  | — |  |  | — |
Other expense, net | 2 |  |  | 14 |  |  | 20 |
Other segment items(2) | 28 |  |  | (53) |  |  | (6) |
Income tax expense (benefit) | (513) |  |  | 26 |  |  | 53 |
Net income (loss) from continuing operations | $ | 1,643 |  |  | $ | (765) |  |  | $ | (902) |
(1) Excludes amounts related to stock-based compensation and strategic review which are presented separately in the table above. (2) Other segment items include strategic investment activity and other small charges.
Schedule of Disaggregation of Revenue | The Company’s disaggregated revenue by end market is as follows:
| 2025 |  | 2024 |  | 2023
| (in millions)
Revenue by end market |  |  |  |  |
Cloud | $ | 8,341 |  |  | $ | 5,052 |  |  | $ | 4,753 |
Client | 556 |  |  | 577 |  |  | 691 |
Consumer | 623 |  |  | 688 |  |  | 811 |
Total revenue | $ | 9,520 |  |  | $ | 6,317 |  |  | $ | 6,255 |
Schedule of Revenue from External Customers by Geographic Areas | The Company’s operations outside the United States include manufacturing facilities in China, Japan, Malaysia, the Philippines and Thailand, as well as sales offices throughout the Americas, Asia Pacific, Europe, the Middle East and Africa. The following tables summarize the Company’s operations by geographic area:
| 2025 |  | 2024 |  | 2023
| (in millions)
Net revenue (1) |  |  |  |  |
United States | $ | 4,328 |  |  | $ | 2,636 |  |  | $ | 2,694 |
China | 1,549 |  |  | 488 |  |  | 471 |
Hong Kong | 1,051 |  |  | 1,331 |  |  | 1,139 |
Rest of Asia | 792 |  |  | 573 |  |  | 546 |
Europe, Middle East and Africa | 1,536 |  |  | 1,067 |  |  | 1,175 |
Other | 264 |  |  | 222 |  |  | 230 |
Total | $ | 9,520 |  |  | $ | 6,317 |  |  | $ | 6,255 |
(1) Net revenue is attributed to geographic regions based on the ship-to location of the customer.
Schedule of Long-lived Assets by Geographic Areas |
| June 27, 2025 |  | June 28, 2024
| (in millions)
Long-lived assets (1) |  |  |
United States | $ | 807 |  |  | $ | 810 |
Malaysia | 378 |  |  | 330 |
China | 87 |  |  | 89 |
Thailand | 791 |  |  | 825 |
Rest of Asia | 279 |  |  | 304 |
Europe, Middle East and Africa | 1 |  |  | 1 |
Total | $ | 2,343 |  |  | $ | 2,359 |
(1) Long-lived assets include property, plant and equipment and are attributed to the geographic location in which they are located.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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