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Concentrations of Risk
12 Months Ended
Jun. 30, 2019
Risks and Uncertainties [Abstract]  
Concentrations of Risk Concentrations of Risk
Financial instruments, which may subject the Company to a concentration of risk, consist principally of short-term investments, cash equivalents, and accounts receivable. Short-term investments consist primarily of municipal bonds, corporate bonds, U.S. agency securities, U.S. treasury securities, commercial paper, certificates of deposit, and variable rate demand notes at interest rates that vary by security. The Company’s cash equivalents consist primarily of money market funds. Certain bank deposits may at times be in excess of the FDIC insurance limits.
The Company sells its products on account to manufacturers, distributors and others worldwide and generally requires no collateral.
Revenue from Arrow Electronics, Inc. represented 19%, 21% and 24% of revenue for the fiscal years ended June 30, 2019, June 24, 2018 and June 25, 2017, respectively. Arrow Electronics, Inc. is a customer of the LED Products and Wolfspeed segments.
No customers individually accounted for more than 10% of the consolidated accounts receivable balance as of June 30, 2019. As of June 24, 2018, Arrow Electronics, Inc. and Allied Group Limited accounted for 14% and 14% of the accounts receivable balance, respectively. No other customers individually accounted for more than 10% of the consolidated accounts receivable balance as of June 24, 2018.