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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2024
Jun. 25, 2023
Jun. 26, 2022
Operating activities:      
Net loss $ (864.2) $ (329.9) $ (200.9)
Net (loss) income from discontinued operations (290.6) (69.4) 49.2
Net loss from continuing operations (573.6) (260.5) (250.1)
Adjustments to reconcile net loss to cash used in operating activities from continuing operations:      
Depreciation and amortization 181.0 145.6 111.5
Amortization of debt issuance costs and discount, net of non-cash capitalized interest 28.4 7.5 20.1
Loss on extinguishment of debt 0.0 0.0 24.8
Stock-based compensation 84.9 72.7 53.7
Gain on equity investment (18.5) 0.0 0.0
Loss on disposal or impairment of long-lived assets, including loss on disposal portion of factory start-up costs 1.2 3.8 1.0
Amortization of (premium) discount on investments, net (27.5) (4.7) 6.1
Realized gain on sale of investments 0.0 0.0 (0.3)
Deferred income taxes 0.2 0.5 0.7
Changes in operating assets and liabilities:      
Accounts receivable, net 7.4 (4.6) (54.3)
Inventories (152.3) (93.1) (59.2)
Prepaid expenses and other assets (124.7) (20.8) (1.1)
Accounts payable (45.8) 27.0 30.3
Accrued salaries and wages and other liabilities (50.2) (0.7) (9.6)
Contract liabilities and distributor-related reserves 18.2 25.1 1.6
Net cash used in operating activities of continuing operations (671.3) (102.2) (124.8)
Net cash used in operating activities of discontinued operations (54.3) (40.4) (29.4)
Cash used in operating activities (725.6) (142.6) (154.2)
Investing activities:      
Purchases of property and equipment (2,274.0) (949.6) (636.8)
Purchases of patent and licensing rights (5.9) (4.9) (4.8)
Proceeds from sale of property and equipment 0.4 1.7 3.1
Purchases of short-term investments (1,601.1) (1,191.0) (475.0)
Proceeds from maturities of short-term investments 1,448.4 637.2 242.3
Proceeds from sale of short-term investments 237.9 110.1 225.2
Reimbursement of property and equipment purchases from long-term incentive agreement 178.5 155.5 139.0
Proceeds from sale of business 75.6 101.8 125.0
Net cash used in investing activities of continuing operations (1,940.2) (1,139.2) (382.0)
Net cash used in investing activities of discontinued operations (3.1) (7.8) (9.0)
Cash used in investing activities (1,943.3) (1,147.0) (391.0)
Financing activities:      
Proceeds from long-term debt borrowings 2,000.0 1,200.0 20.0
Proceeds from convertible notes 0.0 1,750.0 750.0
Payments of debt issuance costs (46.0) (82.1) (17.7)
Cash paid for capped call transactions 0.0 (273.9) (108.2)
Proceeds from issuance of common stock 23.4 23.8 22.4
Tax withholding on vested equity awards (18.0) (19.2) (29.1)
Payments on long-term debt borrowings, including finance lease obligations (0.4) (0.5) (20.5)
Commitment fees on long-term incentive agreement (1.0) (1.0) (1.0)
Cash provided by financing activities 1,958.0 2,597.1 615.9
Effects of foreign exchange changes on cash and cash equivalents (0.2) 0.0 (0.2)
Net change in cash and cash equivalents (711.1) 1,307.5 70.5
Cash and cash equivalents, beginning of period 1,757.0 449.5 379.0
Cash and cash equivalents, end of period $ 1,045.9 $ 1,757.0 $ 449.5