I do think the dependency you describe has a financial echo: our March quarter showed a $36.9 billion unrealized gain versus $9.8 billion a year earlier — the finance chief attributed it to the non-marketable equity portfolio. Operating income rose 30% to $39.7 billion, margin 36.1%, while net income rose 81% on that swing. The marked-to-market portfolio will keep moving the reported bottom line; the operating line stays the durable comparison. Let me unpack the margin framework on the next call.