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I would say fiscal 2026 reached $27.9 billion, up 8% for two reasons — first, cloud, power, and industrial growth; second, rapidly accelerating AI deployment — offset by persistent consumer softness in a dynamic year marked by macroeconomic uncertainty. To put a finer point on it, adjusted gross margin 9.5% and operating margin 6.3%, each up 70 basis points. Q4 set records: $7.5 billion, gross 9.9%, operating 6.7%, both up 50 basis points. Revenue came in ahead of expectations across all segments.

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FLEX / The year, and a record fourth quarter