Vivek Arya
BofA Securities, Research Division

Good afternoon. Welcome back to this afternoon session at the BofA Global Tech Conference. Really happy to be here with the team from ON Semiconductor. We have Hassane El-Khoury, CEO; and Thad Trent, the Chief Financial Officer.

And as usual, I'll go through my questions, but please feel free to raise your hand if you would like to bring something up. Thank you so much, Hassane and Thad, for being at our conference. Really appreciate your time.

Vivek Arya
BofA Securities, Research Division

Maybe, Hassane, if we could start at the top, I think when you reported the last quarter, you kind of described Q1 as an inflection right point. If you could give us a little more color on what led you to kind of describe the quarter that way. And then more importantly, where are we in this kind of cyclical recovery cycle for ON across your biggest end markets?

Hassane El-Khoury
President, CEO & Director

Sure. So at a high level, a lot of people, even going through last year is, they kept pressuring of, well, when are you going to call the bottom, or is it the bottom or when is the recovery and so on. And I've always said, I'll call it when we see it. So when we saw, it was in the first quarter, and both Thad and I talked about the signals that we're looking at, and it's not just one signal. You can think about it as a whole slew because they're all interlocked.