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Business Segments, Geographic Information, and Concentrations of Risk (Tables)

6 Months Ended

Dec. 27, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table summarizes the operating performance of the Company’s reportable segments for the periods presented:

			Three Months Ended												Six Months Ended
			December 27, 2024						December 29, 2023						December 27, 2024						December 29, 2023
			(in millions, except percentages)
Net revenue:
HDD			$	2,409					$	1,367					$	4,620					$	2,561
Flash			1,876						1,665						3,760						3,221
Total net revenue			$	4,285					$	3,032					$	8,380					$	5,782
Gross profit:
HDD			$	929					$	339					$	1,772					$	612
Flash			609						131						1,341						(30)
Total gross profit for segments			1,538						470						3,113						582
Unallocated corporate items:
Stock-based compensation expense			(12)						(13)						(26)						(26)
Amortization of licenses related to a litigation matter			(10)						—						(19)						—
Amortization of acquired intangible assets			—						(1)						(1)						(1)
Recovery from contamination incident			—						36						—						36
Total unallocated corporate items			(22)						22						(46)						9
Consolidated gross profit			$	1,516					$	492					$	3,067					$	591
Gross margin:
HDD			38.6		%				24.8		%				38.4		%				23.9		%
Flash			32.5		%				7.9		%				35.7		%				(0.9)		%
Consolidated gross margin			35.4		%				16.2		%				36.6		%				10.2		%

Schedule of Disaggregation of Revenue

The Company’s disaggregated revenue information was as follows:

			Three Months Ended												Six Months Ended
			December 27, 2024						December 29, 2023						December 27, 2024						December 29, 2023
			(in millions)
Revenue by end market
Cloud			$	2,346					$	1,071					$	4,554					$	1,943
Client			1,168						1,122						2,377						2,269
Consumer			771						839						1,449						1,570
Total revenue			$	4,285					$	3,032					$	8,380					$	5,782
Revenue by geography
Asia			$	1,995					$	1,699					$	3,832					$	3,250
Americas			1,428						804						3,118						1,466
Europe, Middle East and Africa			862						529						1,430						1,066
Total revenue			$	4,285					$	3,032					$	8,380					$	5,782

Schedule of Goodwill

The following table provides a summary of goodwill activity for the period:

			HDD						Flash						Total
			(in millions)
Balance at June 28, 2024			$	4,319					$	5,713					$	10,032
Divestiture (1)			—						(303)						(303)
Balance at December 27, 2024			$	4,319					$	5,410					$	9,729

(1)     On September 28, 2024, the Company sold a majority interest in a subsidiary. See further discussion in Note 9, Related Parties and Related Commitments and Contingencies.

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