1. On Telsa's foundry order change, we see limited impact to our TSMC EPS assumptions from 2027 and we don't expect TSMC stock to de-rate because of Telsa shifting some orders to Samsung Foundry. Strategically, we would never assume TSMC can acquire 100% market share in the leading edge, as foundry customers would always need a second source foundry, either for better pricing, engineering resource support, or a captive foundry partnership. We admit TSMC is indeed less flexible on pricing than foundry peers ...