Qorvo Inc Investor Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Thomas O'Malley - Barclays Capital Inc - Analyst : Hey, guys. Thanks for hosting the event this morning. This is Tom O'Malley with Barclays. So you've seen this transition over years of moving away from the RF business. It's a really nice plan, seeing HPA, CSG as a bigger percentage of revenue. So if you look at the CAGRs from 2018 and 2019, they look more like mid-single digits. And obviously, you have the Huawei headwind that you described, and that's a factor of that difference in growth rates. But when you look forward, what gives you the confidence -- I mean, you're showing SAMs that are 20%-plus. You're saying strong double-digit growth, but what gives you the confidence that you're going to grow at that higher rate longer term? And like what is happening in those markets that gives you that confidence, just because it's a big jump from what you've seen historically even with the Huawei mix added in?

Question: Thomas O'Malley - Barclays Capital Inc - Analyst : Helpful. And then just as a follow-up, I think this is more of a CFO question, but you laid out the growth profiles and then also the operating structure of the three businesses. And you've indicated that CSG is going to be the fastest-growing with HPA and CSG. But CSG tends to have the lower operating profile. And you're kind of describing the total company operating margins at 30% to 35%, but the CSG business is a little bit lower than that. If that's the biggest grower, how do you get to that operating structure?