The memory market is currently experiencing a significant divide. On one side, high bandwidth memory (HBM) products are thriving, driven by strong data center demand, which now accounts for more than half of the market. This segment is expected to continue growing robustly into the next year. On the other side, the PC and smartphone markets are struggling due to prolonged inventory corrections and weaker-than-expected consumer demand. This has led to a significant drop in margins and financial performance, with a $1 billion reserve hit this quarter. Despite previous optimism, consumer electronics demand remains weak, and the market is 10% below 2022 levels. However, this is seen as a temporary issue, with expectations of recovery once inventories are cleared. The data center business, which now constitutes over 50% of sales, offers a silver lining, but adjustments in manufacturing to meet this demand will take about six months, during which margins and volumes may suffer.