Growth UncertaintyLimited visibility into size/slope of ramps given extended design cycles makes long-term growth profile uncertain and subject to program pushout/cancellation risks despite robust design-win funnel.
MarginsAs Auto becomes a larger portion of the mix, management expects margins to decline back into the long-term target range of 59% to 62%.
Market ConditionsWestern EV developments have been disappointing, with many automakers focusing on capital discipline and delaying AV tech investments.