Lam Research (LRCX) 10-Q 23 Oct 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 24, 2017	Oct. 19, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 24, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	LRCX
Entity Registrant Name	LAM RESEARCH CORP
Entity Central Index Key	707,549
Current Fiscal Year End Date	--06-24
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		161,946,248

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Income Statement [Abstract]
Revenue	$ 2,478,140	$ 1,632,419
Cost of goods sold	1,328,797	916,222
Gross margin	1,149,343	716,197
Research and development	275,078	235,240
Selling, general, and administrative	181,043	165,010
Total operating expenses	456,121	400,250
Operating income	693,222	315,947
Other expense, net	(5,502)	(23,154)
Income before income taxes	687,720	292,793
Income tax expense	(97,030)	(28,958)
Net income	$ 590,690	$ 263,835
Net income per share:
Basic (in dollars per share)	$ 3.64	$ 1.64
Diluted (in dollars per share)	$ 3.21	$ 1.47
Number of shares used in per share calculations:
Basic (in shares)	162,141	160,607
Diluted (in shares)	183,880	180,017
Cash dividend declared per common share (in dollars per share)	$ 0.45	$ 0.3

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 590,690	$ 263,835
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	7,869	4,501
Cash flow hedges:
Net unrealized gains (losses) during the period	3,062	(2,421)
Net losses reclassified into earnings	2,188	11,950
Net change	5,250	9,529
Available-for-sale investments:
Net unrealized losses during the period	(1,727)	(2,723)
Net (gains) losses reclassified into earnings	(123)	903
Net change	(1,850)	(1,820)
Defined benefit plans, net change in unrealized component	(2,356)	123
Other comprehensive income, net of tax	8,913	12,333
Comprehensive income	$ 599,603	$ 276,168

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017	[1]
ASSETS
Cash and cash equivalents	$ 2,406,462	$ 2,377,534
Investments	3,775,925	3,663,628
Accounts receivable, less allowance for doubtful accounts of $5,271 as of September 24, 2017, and $5,103 as of June 25, 2017	1,530,762	1,673,398
Inventories	1,328,297	1,232,916
Prepaid expenses and other current assets	187,334	195,022
Total current assets	9,228,780	9,142,498
Property and equipment, net	745,600	685,595
Restricted cash and investments	256,045	256,205
Goodwill	1,484,030	1,385,673
Intangible assets, net	420,359	410,995
Other assets	263,812	241,799
Total assets	12,398,626	12,122,765
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	471,805	464,643
Accrued expenses and other current liabilities	1,078,998	969,361
Deferred profit	597,921	607,672
Current portion of convertible notes and capital leases	639,907	908,439
Total current liabilities	2,788,631	2,950,115
Senior notes, convertible notes, and capital leases, less current portion	1,793,477	1,784,974
Income taxes payable	129,611	120,178
Other long-term liabilities	278,733	280,186
Total liabilities	4,990,452	5,135,453
Commitments and contingencies
Temporary equity, convertible notes	136,996	169,861
Stockholders’ equity:
Preferred stock, at par value of $0.001 per share; authorized - 5,000 shares, none outstanding	0	0
Common stock, at par value of $0.001 per share; authorized, 400,000 shares; issued and outstanding, 162,144 shares at September 24, 2017, and 161,723 shares at June 25, 2017	162	162
Additional paid-in capital	5,891,549	5,845,485
Treasury stock, at cost; 107,360 shares at September 24, 2017, and 105,569 shares at June 25, 2017	(5,375,920)	(5,216,187)
Accumulated other comprehensive loss	(52,787)	(61,700)
Retained earnings	6,808,174	6,249,691
Total stockholders’ equity	7,271,178	6,817,451
Total liabilities and stockholders’ equity	$ 12,398,626	$ 12,122,765
[1]	Derived from audited financial statements

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 5,271	$ 5,103
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	162,144,000	161,723,000
Common stock, shares outstanding	162,144,000	161,723,000
Treasury stock, shares	107,360,000	105,569,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017		Sep. 25, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 590,690		$ 263,835
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	79,142		74,562
Deferred income taxes	43,204		7,633
Equity-based compensation expense	41,783		38,595
Amortization of note discounts and issuance costs	4,588		6,830
Other, net	6,569		16,807
Changes in operating assets and liabilities	92,330		64,962
Net cash provided by operating activities	858,306		473,224
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures and intangible assets	(60,064)		(41,979)
Business acquisition, net of cash acquired	(115,613)		0
Purchases of available-for-sale securities	(1,425,407)		(38,149)
Sales and maturities of available-for-sale securities	1,307,633		469,899
Transfers of restricted cash and investments	160		(5,219)
Other, net	(10,600)		(7,800)
Net cash (used for) provided by investing activities	(303,891)		376,752
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on long-term debt and capital lease obligations and payments for debt issuance costs	(301,727)		(371)
Treasury stock purchases	(155,385)		(1,854)
Dividends paid	(72,738)		(48,052)
Reissuance of treasury stock related to employee stock purchase plan	0		19,320
Proceeds from issuance of common stock	1,042		1,459
Other, net	4		(10)
Net cash used for financing activities	(528,804)		(29,508)
Effect of exchange rate changes on cash and cash equivalents	3,317		1,911
Net increase in cash and cash equivalents	28,928		822,379
Cash and cash equivalents at beginning of period	2,377,534	[1]	5,039,322
Cash and cash equivalents at end of period	2,406,462		5,861,701
Schedule of non-cash transactions:
Accrued payables for stock repurchases	4,350		0
Accrued payables for capital expenditures	34,531		11,631
Dividends payable	73,127		48,397
Transfers of inventory to property and equipment, net	$ 11,852		$ 13,419
[1]	Derived from audited financial statements

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Sep. 24, 2017
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements of Lam Research Corporation (“Lam Research” or the “Company”) for the fiscal year ended June 25, 2017 , which are included in the Company’s Annual Report on Form 10-K as of and for the year ended June 25, 2017 (the “2017 Form 10-K”). The Company’s reports on Form 10-K, Form 10-Q and Form 8-K are available online at the Securities and Exchange Commission website on the Internet. The address of that site is www.sec.gov . The Company also posts its reports on Form 10-K, Form 10-Q and Form 8-K on its corporate website at http://investor.lamresearch.com . The content on any website referred to in this Form 10-Q is not a part of or incorporated by reference in this Form 10-Q unless expressly noted. The condensed consolidated financial statements include the accounts of Lam Research and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company’s reporting period is a 52/53-week fiscal year. The Company’s current fiscal year will end June 24, 2018 and includes 52 weeks. The quarters ended September 24, 2017 (the “September 2017 quarter”) and September 25, 2016 (the “September 2016 quarter”) included 13 weeks.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Sep. 24, 2017
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted In November 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes.” This ASU amends existing guidance to require that deferred income tax assets and liabilities be classified as non-current in a classified balance sheet, and eliminates the prior guidance which required an entity to separate deferred tax assets and liabilities into a current amount and a non-current amount in a classified balance sheet. The Company adopted this standard prospectively in the first quarter of fiscal year 2018. The implementation resulted in a net reduction of prepaid expense and other current assets of $49.7 million , accrued expense and other current liabilities of $5.3 million , and other long-term liabilities of $39.4 million ; and an increase in other assets of $5.0 million in the Company’s Condensed Consolidated Balance Sheet, and had no impact on cash provided by or used in operations for any period presented. In March 2016, the FASB released ASU 2016-9, “Compensation – Stock Compensation.” Key changes in the amendment include: • entities will be required to recognize all excess tax benefits or deficiencies as an income tax benefit or expense in the income statement, eliminating additional paid in capital (“APIC”) pools; • entities will no longer be required to delay recognition of excess tax benefits until they are realized; • entities will be required to classify the excess tax benefits as an operating activity in the statement of cash flows; • entities will be allowed to elect an accounting policy to either estimate the number of forfeitures, or account for forfeitures as they occur; • entities can withhold up to the maximum individual statutory tax rate without classifying the awards as a liability; and • the cash paid to satisfy the statutory income tax withholding obligations shall be classified as a financing activity in the statement of cash flows. The Company adopted this standard in the first quarter of fiscal year 2018. As a result of the adoption, the Company recorded a $40.9 million cumulative-effect adjustment to retained earnings for the recognition of previously unrecognized excess tax benefits for all years prior to the adoption. As required by the standard update, the amendment was applied prospectively to recognize excess tax benefits or deficiencies in the income statement in the period of occurrence. Additionally, the Company has elected to apply the change in cash flow classification on a prospective basis. The Company has elected to continue to estimate the number of forfeitures expected to occur to determine the amount of compensation cost to be recognized each period. The Company has elected to adopt the effects of the standard update with regard to the income tax withholdings obligations on a prospective basis, such withholdings in the period ended September 24, 2017 were not material. Updates Not Yet Effective In May 2014, the FASB released Accounting Standards Update (“ASU”) 2014-9, “Revenue from Contracts with Customers,” to supersede nearly all existing revenue recognition guidance under GAAP. The FASB issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016 and December 2016 within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, respectively. The core principle of the standard is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The new standard defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The Company is required to adopt these standards starting in the first quarter of fiscal year 2019 using either of two methods: (1) retrospective to each prior reporting period presented with the option to elect certain practical expedients as defined within the standard; or (2) retrospective with the cumulative effect of initially applying the standard recognized at the date of initial application and providing certain additional disclosures as defined per the standard. The Company has not yet selected a transition method. The Company is continuing its evaluation of the impact that the new standard will have on its Condensed Consolidated Financial Statements and disclosures, business processes, systems, and controls. While the Company’s evaluation of the impact of the standard on its financial statements with respect to its spare parts and service revenue has not been completed, the Company believes that the timing of revenue recognition for certain of its systems will generally be earlier than under existing revenue recognition guidance. The Company continues to evaluate the impact to its revenues related to its pending adoption of these standards and its preliminary assessments are subject to change. In January 2016, the FASB released ASU 2016-1, “Financial Instruments – Overall – Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendment changes the accounting for and financial statement presentation of equity investments, other than those accounted for under the equity method of accounting or those that result in consolidation of the investee. The amendment provides clarity on the measurement methodology to be used for the required disclosure of fair value of financial instruments measured at amortized cost on the balance sheet and clarifies that an entity should evaluate the need for a valuation allowance on deferred tax assets related to available-for-sale securities in combination with the entity’s other deferred tax assets, among other changes. The Company is required to adopt this standard starting in the first quarter of fiscal year 2019 and does not anticipate that implementation will have a material impact on its Condensed Consolidated Financial Statements. In January 2016, the FASB released ASU 2016-2, “Leases.” The amendment requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. The amendment offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The Company is required to adopt this standard starting in the first quarter of fiscal year 2020. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In June 2016, the FASB released ASU 2016-13, “Financial Instruments – Credit Losses.” The amendment revises the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in more timely recognition of losses on financial instruments, including but not limited to, available for sale debt securities and accounts receivable. The Company is required to adopt this standard starting in the first quarter of fiscal year 2021. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In August 2016, the FASB released ASU 2016-15, “Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments.” The amendment provides and clarifies guidance on the classification of certain cash receipts and cash payments in the statement of cash flows to eliminate diversity in practice. The Company is required to adopt the standard update in the first quarter of fiscal year 2019, with a retrospective transition method required. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In October 2016, the FASB released ASU 2016-16, “Income Tax – Intra-Entity Transfers of Assets Other than Inventory.” This standard update improves the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Early adoption is permitted. The Company is required to adopt the standard in the first quarter of fiscal year 2019. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In November 2016, the FASB released ASU 2016-18, “Statement of Cash Flows – Restricted Cash.” This standard update requires that restricted cash and restricted cash equivalents be included in cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown in the statement of cash flows. The Company is required to adopt this standard in the first quarter of fiscal year 2019, with a retrospective transition method required. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In August 2017, the FASB released ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities.” The new guidance is intended to: (1) more closely align hedge accounting with an entity’s risk management strategies, (2) simplify the application of hedge accounting by eliminating the requirement to separately measure and report hedge ineffectiveness, and (3) increase transparency around the scope and results of hedging programs. The Company is required to adopt the standard in the first quarter of fiscal year 2020. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements.

EQUITY-BASED COMPENSATION PLANS

EQUITY-BASED COMPENSATION PLANS	3 Months Ended
	Sep. 24, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY-BASED COMPENSATION PLANS	EQUITY-BASED COMPENSATION PLANS The Lam Research Corporation 2015 Stock Incentive Plan, as amended (the “2015 Plan”), provides for the grant of non-qualified equity-based awards of the Company’s Common Stock to eligible employees and non-employee directors, including stock options, restricted stock units (“RSUs”), and market-based performance RSUs (“market-based PRSUs”). An option is a right to purchase Common Stock at a set price. An RSU award is an agreement to issue a set number of shares of Common Stock at the time of vesting. The Company’s market-based PRSUs contain both a market condition and a service condition. The Company’s options, RSU, and market-based PRSU awards typically vest over a period of three years . The Company also has an employee stock purchase plan that allows employees to purchase its Common Stock at a discount through payroll deductions. The Company recognized the following equity-based compensation expense and related income tax benefit in the Condensed Consolidated Statements of Operations: Three Months Ended September 24, September 25, (in thousands) Equity-based compensation expense $ 41,783 $ 38,595 Income tax benefit recognized related to equity-based compensation expense $ 13,387 $ 10,905 The estimated fair value of the Company’s stock-based awards, less expected forfeitures, is amortized over the awards’ vesting term on a straight-line basis. In the first quarter of fiscal year 2018, the Company adopted ASU 2016-9, “Compensation – Stock Compensation,” as discussed further in Note 2.

OTHER EXPENSE, NET

OTHER EXPENSE, NET	3 Months Ended
	Sep. 24, 2017
Other Income and Expenses [Abstract]
OTHER EXPENSE, NET	OTHER EXPENSE, NET The significant components of other expense, net, are as follows: Three Months Ended September 24, September 25, (in thousands) Interest income $ 20,209 $ 12,763 Interest expense (23,905 ) (41,429 ) Gains on deferred compensation plan related assets, net 3,453 6,172 Foreign exchange (losses) gains, net (3,000 ) 1,219 Other, net (2,259 ) (1,879 ) $ (5,502 ) $ (23,154 ) Interest income in the three months ended September 24, 2017 , increased compared to the three months ended September 25, 2016 , due to longer portfolio duration and higher yield. Interest expense decreased in the September 2017 quarter, compared to the September 2016 quarter, due to the termination of the Term Loan Agreement and mandatory redemption of the Senior Notes due 2023 and 2026 during the December 2016 quarter.

INCOME TAX EXPENSE

INCOME TAX EXPENSE	3 Months Ended
	Sep. 24, 2017
Income Tax Disclosure [Abstract]
INCOME TAX EXPENSE	INCOME TAX EXPENSE The Company recorded an income tax expense of $97.0 million for the three months ended September 24, 2017 , which yielded an effective tax rate of approximately 14.1% . The difference between the U.S. federal statutory tax rate of 35% and the Company’s effective tax rate for the three months months ended September 24, 2017 , is primarily due to income in lower tax jurisdictions. The Company is in various stages of examination in connection with all of its tax audits worldwide, and it is difficult to determine when these examinations will be settled. It is reasonably possible that over the next 12-month period the Company may experience an increase or decrease in its unrecognized tax benefits as a result of tax examinations or lapses of statute of limitation. The estimated reduction in unrecognized tax benefits may range from $15 million to $50 million .

NET INCOME PER SHARE

NET INCOME PER SHARE	3 Months Ended
	Sep. 24, 2017
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, restricted stock units, convertible notes, and warrants. Dilutive shares outstanding include the effect of the convertible notes. Refer to Note 11 for additional information regarding the Company’s convertible notes. The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share. Three Months Ended September 24, September 25, (in thousands, except per share data) Numerator: Net income $ 590,690 $ 263,835 Denominator: Basic average shares outstanding 162,141 160,607 Effect of potential dilutive securities: Employee stock plans 2,514 2,142 Convertible notes 15,151 15,220 Warrants 4,074 2,048 Diluted average shares outstanding 183,880 180,017 Net income per share - basic $ 3.64 $ 1.64 Net income per share - diluted $ 3.21 $ 1.47 For purposes of computing diluted net income per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. The following potentially dilutive securities were excluded: Three Months Ended September 24, September 25, (in thousands) Number of options and RSUs excluded 7 196 Diluted shares outstanding do not include any effect resulting from note hedges associated with the Company’s 2018 Notes as their impact would have been anti-dilutive.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Sep. 24, 2017
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS The Company maintains an investment portfolio of various holdings, types, and maturities. The Company’s mutual funds, which are related to the Company’s obligations under the deferred compensation plan, are classified as trading securities. Investments classified as trading securities are recorded at fair value based upon quoted market prices. Differences between the cost and fair value of trading securities are recognized as other income (expense) in the Condensed Consolidated Statements of Operations. All of the Company’s other investments are classified as available-for-sale and consequently are recorded in the Condensed Consolidated Balance Sheets at fair value with unrealized gains or losses reported as a separate component of accumulated other comprehensive income (loss), net of tax. Fair Value The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability. A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value. The level of an asset or liability in the hierarchy is based on the lowest level of input that is significant to the fair value measurement. Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities with sufficient volume and frequency of transactions. Level 2: Valuations based on observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or model-derived valuations techniques for which all significant inputs are observable in the market or can be corroborated by observable market data, for substantially the full term of the assets or liabilities. Level 3: Valuations based on unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities and based on non-binding, broker-provided price quotes and may not have been corroborated by observable market data. The Company’s primary financial instruments include its cash, cash equivalents, investments, restricted cash and investments, long-term investments, accounts receivable, accounts payable, long-term debt and capital leases, and foreign currency related derivative instruments. The estimated fair value of cash, accounts receivable, and accounts payable approximates their carrying value due to the short period of time to their maturities. The estimated fair values of capital lease obligations approximate their carrying value as the substantial majority of these obligations have interest rates that adjust to market rates on a periodic basis. Refer to Note 11 to the Condensed Consolidated Financial Statements for additional information regarding the fair value of the Company’s Senior Notes and Convertible Notes. The following table sets forth the Company’s cash, cash equivalents, investments, restricted cash and investments, and other assets measured at fair value on a recurring basis as of September 24, 2017 , and June 25, 2017 : September 24, 2017 (Reported Within) Cost Unrealized Unrealized Fair Value Cash and Investments Restricted Other (in thousands) Cash $ 543,990 $ — $ — $ 543,990 $ 537,972 $ — $ 6,018 $ — Level 1: Time deposit 693,205 — — 693,205 443,178 — 250,027 — Money market funds 1,395,032 — — 1,395,032 1,395,032 — — — U.S. Treasury and agencies 821,441 265 (2,569 ) 819,137 15,648 803,489 — — Mutual funds 53,131 3,125 (70 ) 56,186 — — — 56,186 Level 1 Total 2,962,809 3,390 (2,639 ) 2,963,560 1,853,858 803,489 250,027 56,186 Level 2: Municipal notes and bonds 165,029 322 (21 ) 165,330 — 165,330 — — U.S. Treasury and agencies 12,798 — (102 ) 12,696 — 12,696 — — Government-sponsored enterprises 55,845 — (322 ) 55,523 — 55,523 — — Foreign government bonds 67,040 90 (128 ) 67,002 — 67,002 — — Corporate notes and bonds 2,532,374 4,020 (2,376 ) 2,534,018 14,632 2,519,386 — — Mortgage backed securities — residential 46,614 63 (116 ) 46,561 — 46,561 — — Mortgage backed securities — commercial 106,173 40 (275 ) 105,938 — 105,938 — — Level 2 Total 2,985,873 4,535 (3,340 ) 2,987,068 14,632 2,972,436 — — Total $ 6,492,672 $ 7,925 $ (5,979 ) $ 6,494,618 $ 2,406,462 $ 3,775,925 $ 256,045 $ 56,186 June 25, 2017 (Reported Within) Cost Unrealized Unrealized Fair Value Cash and Investments Restricted Other (in thousands) Cash $ 551,308 $ — $ — $ 551,308 $ 545,130 $ — $ 6,178 $ — Level 1: Time deposit 640,666 — — 640,666 390,639 — 250,027 — Money market funds 1,423,417 — — 1,423,417 1,423,417 — — — U.S. Treasury and agencies 783,848 684 (2,111 ) 782,421 8,297 774,124 — — Mutual funds 53,247 3,007 — 56,254 — — — 56,254 Level 1 Total 2,901,178 3,691 (2,111 ) 2,902,758 1,822,353 774,124 250,027 56,254 Level 2: Municipal notes and bonds 194,575 308 (7 ) 194,876 — 194,876 — — U.S. Treasury and agencies 12,795 — (167 ) 12,628 — 12,628 — — Government-sponsored enterprises 24,502 — (6 ) 24,496 — 24,496 — — Foreign government bonds 62,917 219 (114 ) 63,022 — 63,022 — — Corporate notes and bonds 2,433,622 4,654 (1,840 ) 2,436,436 10,051 2,426,385 — — Mortgage backed securities — residential 102,760 87 (489 ) 102,358 — 102,358 — — Mortgage backed securities — commercial 65,828 9 (98 ) 65,739 — 65,739 — — Level 2 Total 2,896,999 5,277 (2,721 ) 2,899,555 10,051 2,889,504 — — Total $ 6,349,485 $ 8,968 $ (4,832 ) $ 6,353,621 $ 2,377,534 $ 3,663,628 $ 256,205 $ 56,254 The Company accounts for its investment portfolio at fair value. Realized gains (losses) for investment sales are specifically identified. Management assesses the fair value of investments in debt securities that are not actively traded through consideration of interest rates and their impact on the present value of the cash flows to be received from the investments. The Company also considers whether changes in the credit ratings of the issuer could impact the assessment of fair value. The Company did not recognize any losses on investments due to other-than-temporary impairments during the three months ended September 24, 2017 or September 25, 2016 . Additionally, gross realized gains/(losses) from sales of investments were approximately $0.8 million and $(1.0) million , respectively, in the three months ended September 24, 2017 , and $2.6 million and $(0.2) million , respectively, in the three months ended September 25, 2016 . The following is an analysis of the Company’s cash, cash equivalents, investments, and restricted cash and investments in unrealized loss positions: September 24, 2017 Unrealized Losses Unrealized Losses Total Fair Value Gross Fair Value Gross Fair Value Gross (in thousands) U.S. Treasury and agencies $ 660,429 $ (2,671 ) $ — $ — $ 660,429 $ (2,671 ) Municipal notes and bonds 18,653 (21 ) — — 18,653 (21 ) Mutual funds 3,122 (70 ) — — 3,122 (70 ) Government-sponsored enterprises 55,297 (322 ) — — 55,297 (322 ) Foreign government bonds 33,729 (128 ) — — 33,729 (128 ) Corporate notes and bonds 1,282,655 (2,376 ) — — 1,282,655 (2,376 ) Mortgage backed securities — residential 30,210 (93 ) 2,006 (23 ) 32,216 (116 ) Mortgage backed securities — commercial 98,303 (261 ) 2,634 (14 ) 100,937 (275 ) $ 2,182,398 $ (5,942 ) $ 4,640 $ (37 ) $ 2,187,038 $ (5,979 ) The amortized cost and fair value of cash equivalents, investments, and restricted investments with contractual maturities are as follows as of September 24, 2017 : Cost Estimated (in thousands) Due in one year or less $ 2,764,552 $ 2,764,415 Due after one year through five years 2,987,295 2,986,525 Due in more than five years 143,704 143,502 $ 5,895,551 $ 5,894,442 The Company has the ability, if necessary, to liquidate its investments in order to meet the Company’s liquidity needs in the next 12 months. Accordingly, those investments with contractual maturities greater than twelve months from the date of purchase nonetheless are classified as short-term on the accompanying Condensed Consolidated Balance Sheets. Derivative Instruments and Hedging The Company carries derivative financial instruments (“derivatives”) on its Condensed Consolidated Balance Sheets at their fair values. The Company enters into foreign currency forward contracts and foreign currency options with financial institutions with the primary objective of reducing volatility of earnings and cash flows related to foreign currency exchange rate fluctuations. In addition, the Company enters into interest rate swap arrangements to manage interest rate risk. The counterparties to these derivatives are large global financial institutions that the Company believes are creditworthy, and therefore, it does not consider the risk of counterparty nonperformance to be material. Cash Flow Hedges The Company’s financial position is routinely subjected to market risk associated with foreign currency exchange rate fluctuations on non-U.S. dollar transactions or cash flows, primarily from Japanese yen-denominated revenues and euro- denominated and Korean won-denominated expenses. The Company’s policy is to mitigate the foreign exchange risk arising from the fluctuations in the value of these non-U.S. dollar denominated transactions or cash flows through a foreign currency cash flow hedging program, using forward contracts and foreign currency options that generally expire within 12 months and no later than 24 months . These hedge contracts are designated as cash flow hedges and are carried on the Company’s balance sheet at fair value with the effective portion of the contracts’ gains or losses included in accumulated other comprehensive income (loss) and subsequently recognized in revenue/expense in the same period the hedged items are recognized. In addition, the Company has entered into interest rate swap agreements to hedge against the variability of cash flows due to changes in certain benchmark interest rates on fixed rate debt. These instruments are designated as cash flow hedges at inception and are settled in conjunction with the issuance of debt. The effective portion of the contracts’ gains or losses is included in accumulated other comprehensive (loss) and is amortized into income as the hedged item impacts earnings. At inception and at each quarter-end, hedges are tested prospectively and retrospectively for effectiveness using regression analysis. Changes in the fair value of the forward contracts due to changes in time value are excluded from the assessment of effectiveness and are recognized in revenue or expense in the current period. The change in time value related to these contracts was not material for all reported periods. Changes in the fair value of foreign exchange options due to changes in time value are included in the assessment of effectiveness. To qualify for hedge accounting, the hedge relationship must meet criteria relating to both the derivative instrument and the hedged item. These criteria include identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the hedging instrument’s effectiveness in offsetting the exposure to changes in the hedged item’s fair value or cash flows will be measured. There were no material gains or losses during the three months ended September 24, 2017 or September 25, 2016 associated with ineffectiveness or forecasted transactions that failed to occur. To receive hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedge, and the hedges must be tested to demonstrate an expectation of providing highly effective offsetting changes to future cash flows on hedged transactions. When derivative instruments are designated and qualify as effective cash flow hedges, the Company recognizes effective changes in the fair value of the hedging instrument within accumulated other comprehensive income (loss) until the hedged exposure is realized. Consequently, with the exception of excluded time value associated with the forward contracts and hedge ineffectiveness recognized, the Company’s results of operations are not subject to fluctuation as a result of changes in the fair value of the derivative instruments. If hedges are not highly effective or if the Company does not believe that the underlying hedged forecasted transactions will occur, the Company may not be able to account for its derivative instruments as cash flow hedges. If this were to occur, future changes in the fair values of the Company’s derivative instruments would be recognized in earnings. Additionally, related amounts previously recorded in other comprehensive income would be reclassified to income immediately. As of September 24, 2017 , the Company had gains of $6.3 million accumulated in other comprehensive income, net of tax, related to foreign exchange cash flow hedges which it expects to reclassify from other comprehensive income into earnings over the next 12 months . Additionally, the Company had a net loss of $1.9 million accumulated in other comprehensive income, net of tax, related to interest rate contracts which it expects to reclassify from other comprehensive income into earnings over the next 7.5 years . Fair Value Hedges The Company has interest rate contracts whereby the Company receives fixed rates and pays variable rates based on certain benchmark interest rates, resulting in a net increase or decrease to interest expense, a component of other expense, net in our Condensed Consolidated Statement of Operations. These interest rate contracts are designated as fair value hedges and hedge against changes in the fair value of our debt portfolio. The Company concluded that these interest rate contracts meet the criteria necessary to qualify for the short-cut method of hedge accounting, and as such an assumption is made that the change in the fair value of the hedged debt, due to changes in the benchmark rate, exactly offsets the change in the fair value of the interest rate swap. Therefore, the derivative is considered to be effective at achieving offsetting changes in the fair value of the hedged liability, and no ineffectiveness is recognized. Balance Sheet Hedges The Company also enters into foreign currency forward contracts to hedge fluctuations associated with foreign currency denominated monetary assets and liabilities, primarily cash, third-party accounts receivable, accounts payable, and intercompany receivables and payables. These forward contracts are not designated for hedge accounting treatment. Therefore, the change in fair value of these derivatives is recorded as a component of other income (expense) and offsets the change in fair value of the foreign currency denominated assets and liabilities, which are also recorded in other income (expense). As of September 24, 2017 , the Company had the following outstanding foreign currency contracts that were entered into under its cash flow and balance sheet hedge programs: Notional Value Derivatives Designated as Derivatives Not Designated (in thousands) Foreign currency forward contracts Buy Contracts Sell Contracts Buy Contracts Sell Contracts Japanese yen $ — $ 393,345 $ — $ 282,311 Euro 31,917 — 31,246 — Korean won 13,536 — — 84,122 Taiwan dollar — — 12,658 — Swiss franc — — 9,375 — Chinese renminbi — — 7,137 Singapore dollar — — 4,469 — $ 45,453 $ 393,345 $ 64,885 $ 366,433 Foreign currency option contracts Buy Put Sell Put Buy Put (1) Sell Put Japanese yen $ 36,036 $ — $ 8,929 $ 8,929 ( 1) Contracts were entered into and designated as cash flow hedges under ASC 815 at contract inception as part of the Company’s cash flow hedge program. The contracts were subsequently de-designated; changes in fair market value subsequent to de-designation effect current earnings. The fair value of derivative instruments in the Company’s Condensed Consolidated Balance Sheets as of September 24, 2017 , and June 25, 2017 were as follows: September 24, 2017 June 25, 2017 Fair Value of Derivative Instruments (Level 2) Fair Value of Derivative Instruments (Level 2) Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value Balance Sheet Fair Value Balance Sheet Fair Value (in thousands) Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expense $ 9,598 Accrued expenses and other current liabilities $ 368 Prepaid expense $ 8,061 Accrued expenses and other current liabilities $ 2,916 Interest rate contracts, short-term Prepaid expense and other assets 316 Accrued expenses and other current liabilities 2,833 Interest rate contracts, long-term Other long-term liabilities 13,077 Other long-term liabilities 7,269 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expense 109 Accrued expenses and other current liabilities 461 Prepaid expense 213 Accrued expenses and other current liabilities 342 Total Derivatives $ 10,023 $ 13,906 $ 8,274 $ 13,360 Under the master netting agreements with the respective counterparties to the Company’s derivative contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same currency with a single net amount payable by one party to the other. However, the Company has elected to present the derivative assets and derivative liabilities on a gross basis on its balance sheet. As of September 24, 2017 , the potential effect of rights of offset associated with the above foreign exchange and interest rate contracts would be an offset to assets and liabilities by $5.1 million , resulting in a net derivative asset of $4.9 million and net derivative liability of $8.8 million . As of June 25, 2017 , the potential effect of rights of offset associated with the above foreign exchange contracts would be an offset to both assets and liabilities by $5.9 million , resulting in a net derivative asset of $2.3 million and a net derivative liability of $7.4 million . The Company is not required to pledge, nor is the Company entitled to receive, cash collateral for these derivative transactions. The effect of derivative instruments designated as cash flow hedges on the Company’s Condensed Consolidated Statements of Operations, including accumulated other comprehensive income (“AOCI”) was as follows: Three Months Ended September 24, 2017 Three Months Ended September 25, 2016 Effective Portion Ineffective Effective Portion Ineffective Derivatives Designated as Hedging Instruments Location of (Loss) Gain (Loss) Gain Gain (Loss) (Loss) Gain (Loss) Gain Gain (Loss) (in thousands) Foreign Exchange Contracts Revenue $ (9 ) $ (3,806 ) $ 2,547 $ (2,913 ) $ (13,605 ) $ 705 Foreign Exchange Contracts Cost of goods sold 2,443 824 (208 ) 235 173 (67 ) Foreign Exchange Contracts Selling, general, and 1,356 714 (117 ) (24 ) (9 ) (21 ) Foreign Exchange Contracts Other expense, net — — (17 ) — — — Interest Rate Contracts Other expense, net — (31 ) — — 9 — $ 3,790 $ (2,299 ) $ 2,205 $ (2,702 ) $ (13,432 ) $ 617 The effect of derivative instruments not designated as cash flow hedges on the Company’s Condensed Consolidated Statements of Operations was as follows: Three Months Ended September 24, September 25, Derivatives Not Designated as Hedging Instruments: Location Gain Loss (in thousands) Foreign Exchange Contracts Other $ 2,672 $ (383 ) Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, investments, restricted cash and investments, trade accounts receivable, and derivative financial instruments used in hedging activities. Cash is placed on deposit at large global financial institutions. Such deposits may be in excess of insured limits. Management believes that the financial institutions that hold the Company’s cash are creditworthy and, accordingly, minimal credit risk exists with respect to these balances. The Company’s overall portfolio of available-for-sale securities must maintain an average minimum rating of “AA-” or “Aa3” as rated by Standard and Poor’s, Fitch Ratings, or Moody’s Investor Services. To ensure diversification and minimize concentration, the Company’s policy limits the amount of credit exposure with any one financial institution or commercial issuer. The Company is exposed to credit losses in the event of nonperformance by counterparties on foreign currency and interest rate hedge contracts that are used to mitigate the effect of exchange rate and interest rate fluctuations, and on contracts related to structured share repurchase arrangements. These counterparties are large global financial institutions and, to date, no such counterparty has failed to meet its financial obligations to the Company. Credit risk evaluations, including trade references, bank references, and Dun & Bradstreet ratings, are performed on all new customers and the Company monitors its customers’ financial condition and payment performance. In general, the Company does not require collateral on sales.

INVENTORIES

INVENTORIES	3 Months Ended
	Sep. 24, 2017
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value. System shipments to Japanese customers, for which title does not transfer until customer acceptance, are classified as finished goods inventory and carried at cost until title transfers. Inventories consist of the following: September 24, June 25, (in thousands) Raw materials $ 721,352 $ 625,600 Work-in-process 200,271 213,066 Finished goods 406,674 394,250 $ 1,328,297 $ 1,232,916

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Sep. 24, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill The balance of goodwill is approximately $1.5 billion and $1.4 billion as of September 24, 2017 , and June 25, 2017 , respectively. As of September 24, 2017 , $61.1 million of the goodwill balance is tax deductible and the remaining balance is not tax deductible due to purchase accounting and applicable foreign law. Intangible Assets The following table provides the Company’s intangible assets: September 24, 2017 June 25, 2017 Gross Accumulated Net Gross Accumulated Net (in thousands) Customer relationships $ 630,257 $ (383,131 ) $ 247,126 $ 615,164 $ (366,439 ) $ 248,725 Existing technology 669,603 (508,983 ) 160,620 643,196 (487,056 ) 156,140 Patents 36,553 (31,872 ) 4,681 36,553 (31,238 ) 5,315 Other intangible assets 43,814 (35,882 ) 7,932 36,514 (35,699 ) 815 Total intangible assets $ 1,380,227 $ (959,868 ) $ 420,359 $ 1,331,427 $ (920,432 ) $ 410,995 The Company recognized $39.3 million and $38.7 million in intangible asset amortization expense during the three months ended September 24, 2017 , and September 25, 2016 , respectively. Refer to Note 15 - Business Combinations for additional information regarding intangible assets acquired during the three months ended September 24, 2017 . The estimated future amortization expense of intangible assets, excluding those with indefinite lives, as of September 24, 2017 , was as follows: Fiscal Year Amount (in thousands) 2018 (remaining 9 months) $ 121,147 2019 123,429 2020 58,296 2021 55,611 2022 51,801 Thereafter 10,075 $ 420,359

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Sep. 24, 2017
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: September 24, June 25, (in thousands) Accrued compensation $ 510,583 $ 447,363 Warranty reserves 168,337 161,981 Income and other taxes payable 145,022 95,127 Dividend payable 73,127 72,738 Other 181,929 192,152 $ 1,078,998 $ 969,361

LONG-TERM DEBT AND OTHER BORROW

LONG-TERM DEBT AND OTHER BORROWINGS	3 Months Ended
	Sep. 24, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT AND OTHER BORROWINGS	LONG-TERM DEBT AND OTHER BORROWINGS As of September 24, 2017 , and June 25, 2017 , the Company’s outstanding debt consisted of the following: September 24, 2017 June 25, 2017 Amount (in thousands) Effective Interest Rate Amount (in thousands) Effective Interest Rate Fixed-rate 1.25% Convertible Notes Due May 15, 2018 ("2018 Notes") $ 238,367 (1) 5.27 % $ 447,436 (2) 5.27 % Fixed-rate 2.75% Senior Notes Due March 15, 2020 ("2020 Notes") 500,000 2.88 % 500,000 2.88 % Fixed-rate 2.80% Senior Notes Due June 15, 2021 ("2021 Notes") 800,000 2.95 % 800,000 2.95 % Fixed-rate 3.80% Senior Notes Due March 15, 2025 ("2025 Notes") 500,000 3.87 % 500,000 3.87 % Fixed-rate 2.625% Convertible Notes Due May 15, 2041 ("2041 Notes") 538,468 (1) 4.28 % 631,074 (2) 4.28 % Total debt outstanding, at par 2,576,835 2,878,510 Unamortized discount (145,241 ) (178,589 ) Fair value adjustment - interest rate contracts (12,761 ) (10,102 ) Unamortized bond issuance costs (2,798 ) (3,161 ) Total debt outstanding, at carrying value $ 2,416,035 $ 2,686,658 Reported as: Current portion of long-term debt $ 639,252 (3) $ 907,827 (3) Long-term debt 1,776,783 1,778,831 Total debt outstanding, at carrying value $ 2,416,035 $ 2,686,658 ____________________________ (1) As of September 24, 2017 , these notes were convertible at the option of the bondholder, as a result of the condition described in (3) below. Upon closure of the conversion period, the 2041 Notes not converted will be reclassified back into noncurrent liabilities and the temporary equity will be reclassified into permanent equity. (2) As of June 25, 2017 , these notes were convertible at the option of the bond holder, as a result of the condition described in (3) below. (3) As of the report date, the market value of the Company’s Common Stock was greater than 130% of the convertible notes conversion price for 20 or more of the 30 consecutive trading days preceding the quarter-end. As a result, the 2041 Notes were classified in current liabilities and a portion of the equity component, associated with the convertible notes representing the unamortized discount, was classified in temporary equity on the Company’s Consolidated Balance Sheets. Convertible Senior Notes In May 2011, the Company issued and sold $450 million in aggregate principal amount of 1.25% Convertible Senior Notes due May 2018 (the “2018 Notes”) at par. The Company pays cash interest at an annual rate of 1.25% , on a semi-annual basis on May 15 and November 15 of each year. In June 2012, with the acquisition of Novellus Systems, Inc. (“Novellus”), the Company assumed $700 million in aggregate principal amount of 2.625% Convertible Senior Notes due May 2041 (the “2041 Notes,” and collectively with the 2018 Notes, the “Convertible Notes”). The Company pays cash interest at an annual rate of 2.625% , on a semi-annual basis on May 15 and November 15 of each year on the 2041 Notes. The 2041 Notes also have a contingent interest payment provision that may require the Company to pay additional interest, up to 0.60% per year, based on certain thresholds, beginning with the semi-annual interest payment on May 15, 2021, and upon the occurrence of certain events, as outlined in the indenture governing the 2041 Notes. The Company separately accounts for the liability and equity components of the Convertible Notes. The initial debt components of the Convertible Notes were valued based on the present value of the future cash flows using the Company’s borrowing rate at the date of the issuance or assumption for similar debt instruments without the conversion feature, which equals the effective interest rate on the liability component disclosed in the table below, respectively. The equity component was initially valued equal to the principle value of the notes, less the present value of the future cash flows using the Company’s borrowing rate at the date of the issuance or assumption for similar debt instruments without a conversion feature, which equated to the initial debt discount. Under certain circumstances, the Convertible Notes may be converted into shares of the Company’s Common Stock. The number of shares each debenture is convertible into is based on conversion rates, disclosed in the table below. The principal value of Convertible Note conversions in the three months ended September 24, 2017 , was approximately $301.7 million . Selected additional information regarding the Convertible Notes outstanding as of September 24, 2017 , and June 25, 2017 , is as follows: September 24, 2017 June 25, 2017 2018 Notes 2041 Notes 2018 Notes 2041 Notes (in thousands, except years, percentages, conversion rate, and conversion price) Carrying amount of permanent equity component, net of tax $ 92,388 $ 157,210 $ 89,604 $ 156,374 Carrying amount of temporary equity component, net of tax $ 5,816 $ 131,180 $ 15,186 $ 154,675 Remaining amortization period (years) 0.6 23.6 0.8 23.8 Fair Value of Notes (Level 2) $ 697,829 $ 2,805,294 Conversion rate (shares of common stock per $1,000 principal amount of notes) 16.6142 29.8160 Conversion price (per share of common stock) $ 60.19 $ 33.54 If-converted value in excess of par value $ 461,533 $ 2,298,926 Estimated share dilution using average quarterly stock price $159.71 per share 2,468 12,683 Convertible Note Hedges and Warrants Concurrent with the issuance of the 2018 Notes the Company purchased a convertible note hedge and sold warrants. The warrants settlement is contractually defined as net share settlement. The exercise price is adjusted for certain corporate events, including dividends on the Company’s Common Stock. As of September 24, 2017 , the warrants associated with the 2018 Notes had not been exercised and remained outstanding. In conjunction with the convertible note hedge, counterparties agreed to sell to the Company shares of Common Stock equal to the number of shares issuable upon conversion of the 2018 Notes in full. The convertible note hedge transactions will be settled in net shares and will terminate upon the earlier of the maturity date or the first day none of the respective notes remain outstanding due to conversion or otherwise. Settlement of the convertible note hedge in net shares, based on the number of shares issued upon conversion of the 2018 Notes, on the expiration date would result in the Company receiving net shares equivalent to the number of shares issuable by the Company upon conversion of the 2018 Notes. The exercise price is adjusted for certain corporate events, including dividends on the Company’s Common Stock. During the period ended September 24, 2017 the note hedge was partially settled, resulting in the receipt of approximately 2,092,000 shares. The following table presents the details of the warrants and convertible note hedge arrangements as of September 24, 2017 : 2018 Notes (shares in thousands) Warrants: Underlying shares 7,476 Estimated share dilution using average quarterly stock price $159.71 per share 4,074 Exercise price $ 72.69 Expiration date range August 15 - October 24, 2018 Convertible Note Hedge: Number of shares available from counterparties 3,960 Exercise price $ 60.19 Senior Notes On March 12, 2015, the Company completed a public offering of $500 million aggregate principal amount of the Company’s Senior Notes due March, 2020 (the “2020 Notes”) and $500 million aggregate principal amount of the Company’s Senior Notes due March, 2025 (the “2025 Notes”, together with the 2020 Notes, the “Senior Notes”). The Company pays interest at an annual rate of 2.75% and 3.80% , on the 2020 Notes and 2025 Notes, respectively, on a semi-annual basis on March 15 and September 15 of each year. During the year ended June 26, 2016, the Company entered into a series of interest rate contracts hedging the fair value of a portion of the 2025 Notes par value, whereby the Company receives a fixed rate and pays a variable rate based on a certain benchmark interest rate. Refer to Note 7 for additional information regarding these interest rate contracts. The Company may redeem the Senior Notes at a redemption price equal to 100% of the principal amount of such series (“par”), plus a “make whole” premium as described in the indenture in respect of the Senior Notes and accrued and unpaid interest before February 15, 2020 , for the 2020 Notes and before December 15, 2024 , for the 2025 Notes. The Company may redeem the Senior Notes at par, plus accrued and unpaid interest at any time on or after February 15, 2020, for the 2020 Notes and on or after December 24, 2024, for the 2025 Notes. In addition, upon the occurrence of certain events, as described in the indenture, the Company will be required to make an offer to repurchase the Senior Notes at a price equal to 101% of the principal amount of the Senior Notes, plus accrued and unpaid interest. On June 7, 2016, The Company completed a public offering of $800 million aggregate principal amount of Senior Notes due June 2021 (the “2021 Notes”, together with the 2020 and 2025 Notes, the “Senior Notes”). The Company pays interest at an annual rate of 2.80% on the 2021 Notes on a semi-annual basis on June 15 and December 15 of each year. The Company may redeem the 2021 Notes at a redemption price equal to 100% of the principal amount of such series (“par”), plus a “make whole” premium as described in the indenture in respect to the 2021 Notes and accrued and unpaid interest before May 15, 2021. The Company may redeem the 2021 Notes at par, plus accrued and unpaid interest at any time on or after May 15, 2021. In addition, upon the occurrence of certain events, as described in the indenture, the Company will be required to make an offer to repurchase the 2021 Notes at a price equal to 101% of the principal amount of the respective note, plus accrued and unpaid interest. Selected additional information regarding the Senior Notes outstanding as of September 24, 2017 , is as follows: Remaining Amortization period Fair Value of Notes (Level 2) (years) (in thousands) 2020 Notes 2.5 $ 507,915 2021 Notes 3.7 $ 810,384 2025 Notes 7.5 $ 518,625 Interest Cost The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Convertible Notes, the Senior Notes, the term loan agreement and the revolving credit facility during the three months ended September 24, 2017 , and September 25, 2016 . Three Months Ended September 24, September 25, (in thousands) Contractual interest coupon $ 17,956 $ 34,712 Amortization of interest discount 4,104 5,914 Amortization of issuance costs 485 918 Effect of interest rate contracts, net (349 ) (1,058 ) Total interest cost recognized $ 22,196 $ 40,486 Revolving Credit Facility On November 10, 2015, the Company entered into an Amendment and Restatement Agreement (as amended on April 26, 2016, by Amendment No. 1 to the Amended and Restated Credit Agreement, and as further amended, restated, supplemented or otherwise modified from time to time, the “Amended and Restated Credit Agreement”), which amends and restates the Company’s prior unsecured Credit Agreement, dated March 12, 2014 (as amended by Amendment No. 1, dated March 5, 2015). The Amended and Restated Credit Agreement provides for an increase to our revolving unsecured credit facility, from $300.0 million to $750.0 million with a syndicate of lenders. It includes an expansion option, subject to certain requirements, for us to request an increase in the facility of up to an additional $250.0 million , for a potential total commitment of $1.0 billion . Proceeds from the credit facility can be used for general corporate purposes. The facility matures on November 10, 2020. Interest on amounts borrowed under the credit facility is, at the Company’s option, based on (1) a base rate, defined as the greatest of (a) prime rate, (b) Federal Funds rate plus 0.5% , or (c) one-month LIBOR plus 1.0% , plus a spread of 0.0% to 0.5% , or (2) LIBOR multiplied by the statutory rate, plus a spread of 0.9% to 1.5% in each case as the applicable spread is determined based on the rating of the Company’s non-credit enhanced, senior unsecured long-term debt. Principal and any accrued and unpaid interest is due and payable upon maturity. Additionally, the Company will pay the lenders a quarterly commitment fee that varies based on the Company’s credit rating. The Restated Credit Agreement contains affirmative covenants, negative covenants, financial covenants and events of default that are substantially similar to those in the Amended and Restated Term Loan Agreement. As of September 24, 2017 , the Company had no borrowings outstanding under the credit facility and was in compliance with all financial covenants. On October 13, 2017, the Company entered into Amendment No. 2 to Amended and Restated Credit Agreement (the “2nd Amendment”), among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which amends the Company’s Credit Agreement (as amended by the 2nd Amendment, the “Amended Credit Agreement”). Among other things, the Amended Credit Agreement provides for a $500 million increase to the Company’s revolving credit facility, from $750 million under the Credit Agreement to $1.25 billion under the Amended Credit Agreement. The Amended Credit Agreement also modifies the date of maturity of the revolving credit facility from November 10, 2020 to October 13, 2022. The Amended Credit Agreement provides for an expansion option that will allow the Company, subject to certain requirements, to request an increase in the facility of up to an additional $600 million , for a potential total commitment of $1.85 billion . Other than as disclosed in this paragraph, the material terms of the Amended Credit Agreement are substantially the same as the Credit Agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Sep. 24, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Operating Leases and Related Guarantees The Company leases the majority of its administrative, research and development (“R&D”) and manufacturing facilities, regional sales/service offices, and certain equipment under non-cancelable operating leases. Certain of the Company’s facility leases for buildings located at its Fremont, California headquarters and certain other facility leases provide the Company with options to extend the leases for additional periods or to purchase the facilities. Certain of the Company’s facility leases provide for periodic rent increases based on the general rate of inflation. The Company has operating leases regarding certain improved properties in Fremont and Livermore, California (the “Operating Leases”). The Company was required to maintain cash collateral in an aggregate of approximately $250.0 million in separate interest-bearing accounts as security for the Company’s obligations. These amounts are recorded with other restricted cash and investments in the Company’s Condensed Consolidated Balance Sheet as of September 24, 2017 . During the term of the Operating Leases and when the terms of the Operating Leases expire, the property subject to those Operating Leases may be remarketed. The Company has guaranteed to the lessor that each property will have a certain minimum residual value. The aggregate guarantee made by the Company under the Operating Leases is generally no more than approximately $220.4 million ; however, under certain default circumstances, the guarantee with regard to an Operating Lease may be 100% of the lessor’s aggregate investment in the applicable property, which in no case will exceed $250.0 million , in the aggregate. Other Guarantees The Company has issued certain indemnifications to its lessors for taxes and general liability under some of its agreements. The Company has entered into certain insurance contracts that are intended to limit its exposure to such indemnifications. As of September 24, 2017 , the Company had not recorded any liability in connection with these indemnifications, as it does not believe that it is probable that any amounts will be paid under these guarantees. Generally, the Company indemnifies, under pre-determined conditions and limitations, its customers for infringement of third party intellectual property rights by the Company’s products or services. The Company seeks to limit its liability for such indemnity to an amount not to exceed the sales price of the products or services subject to its indemnification obligations. The Company does not believe that it is probable that any material amounts will be paid under these guarantees. The Company provides guarantees and standby letters of credit to certain parties as required for certain transactions initiated during the ordinary course of business. As of September 24, 2017 , the maximum potential amount of future payments that it could be required to make under these arrangements and letters of credit was $20.6 million . The Company does not believe, based on historical experience and information currently available, that it is probable that any amounts will be required to be paid. Warranties The Company provides standard warranties on its systems. The liability amount is based on actual historical warranty spending activity by type of system, customer, and geographic region, modified for any known differences such as the impact of system reliability improvements. Changes in the Company’s product warranty reserves were as follows: Three Months Ended September 24, September 25, (in thousands) Balance at beginning of period $ 161,981 $ 100,321 Warranties issued during the period 48,790 34,855 Settlements made during the period (44,053 ) (32,228 ) Changes in liability for pre-existing warranties 1,619 278 Balance at end of period $ 168,337 $ 103,226 Legal proceedings While the Company is not currently a party to any legal proceedings that it believes material, the Company is either a defendant or plaintiff in various actions that have arisen from time to time in the normal course of business, including intellectual property claims. The Company accrues for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. Based on current information, the Company does not believe that a material loss from known matters is probable and therefore has not recorded an accrual for litigation or other contingencies related to existing legal proceedings.

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM	3 Months Ended
	Sep. 24, 2017
Equity [Abstract]
STOCK REPURCHASE PROGRAM	STOCK REPURCHASE PROGRAM In November 2016, the Board of Directors authorized the repurchase of up to $1.0 billion of Common Stock. These repurchases can be conducted on the open market or as private purchases and may include the use of derivative contracts with large financial institutions, in all cases subject to compliance with applicable law. Repurchases are funded using the Company’s on-shore cash and on-shore cash generation. This repurchase program has no termination date and may be suspended or discontinued at any time. Repurchases under the repurchase program were as follows during the periods indicated: Period Total Number of Total Cost of Average Price (1) Amount (in thousands, except per share data) Available balance as of June 25, 2017 $ 282,141 Quarter ended September 24, 2017 1,779 $ 157,938 $ 158.40 $ 124,203 (1) Average price paid per share excludes effect of accelerated share repurchases; see additional disclosure below regarding our accelerated share repurchase activity during the fiscal year. In addition to the shares repurchased under the Board-authorized repurchase program shown above, during the three months ended September 24, 2017 , the Company acquired 11 thousand shares at a total cost of $1.8 million which the Company withheld through net settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under the Company’s equity compensation plans. The shares retained by the Company through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under the Company’s equity compensation plan. On April 19, 2017, the Company entered into two separate accelerated share repurchase agreements (collectively, the “ASR”) with two financial institutions to repurchase a total of $500 million of Common Stock. The Company took an initial delivery of approximately 2,570,000 shares, which represented 70% of the prepayment amount divided by the Company’s closing stock price on April 19, 2017. The total number of shares to be received under the ASR was based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount. Following the fiscal year end, the counterparties designated June 30, 2017 as the termination date, at which time the Company settled the ASR. Approximately 780,000 shares were received at final settlement, which resulted in a weighted-average share price of approximately $149.16 for the transaction period.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Sep. 24, 2017
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The components of accumulated other comprehensive income (loss) (“AOCI”), net of tax at the end of the period, as well as the activity during the period, were as follows: Accumulated Foreign Currency Translation Adjustment Accumulated Accumulated Accumulated Total (in thousands) Balance as of June 25, 2017 $ (42,371 ) $ (811 ) $ 1,106 $ (19,624 ) $ (61,700 ) Other comprehensive income (loss) before reclassifications 7,886 3,062 (1,727 ) (2,356 ) 6,865 Losses (income) reclassified from accumulated other comprehensive income (loss) to net income (17 ) (1) 2,188 (2) (123 ) (1) — 2,048 Net current-period other comprehensive income (loss) $ 7,869 $ 5,250 $ (1,850 ) $ (2,356 ) $ 8,913 Balance as of September 24, 2017 $ (34,502 ) $ 4,439 $ (744 ) $ (21,980 ) $ (52,787 ) (1) Amount of after tax gain reclassified from accumulated other comprehensive income into net income located in other expense, net. (2) Amount of after tax gain reclassified from AOCI into net income located in revenue: $3,383 loss; cost of goods sold: $678 gain; selling, general, and administrative expenses: $537 gain; and other income and expense: $20 loss.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	3 Months Ended
	Sep. 24, 2017
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS On August 28, 2017, the Company completed the acquisition of the outstanding shares of Coventor, Inc. (“Coventor”), a privately-held company that is a provider of simulation and modeling solutions for semiconductor process technology, micro-electromechanical systems (MEMS), and the Internet of Things, for a total purchase consideration of $137.6 million . The following table represents the preliminary purchase price allocation and summarizes the aggregate estimated fair value of the net assets acquired on the closing date of the acquisition: Preliminary Purchase Price Allocation (In thousands) Intangible assets $ 48,500 Assets acquired (including cash of $8.7 million) 12,796 Goodwill 97,832 Liabilities assumed (21,517 ) Fair value of net assets acquired $ 137,611 The preliminary fair values of net tangible and intangible assets acquired were based on preliminary valuations, and management’s estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition date). The primary area that remains open relates to the fair value of intangible assets, certain tangible assets and liabilities assumed and income taxes. The Company expects to continue to obtain information to assist us in determining the fair value of the net assets acquired during the measurement period. The operating results of the acquired entity, from the date of acquisition, have been included in the Company’s Condensed Consolidated Financial Statements for the three months ended September 24, 2017 . Goodwill represents the excess of the purchase price over the net tangible and identifiable intangible assets acquired. None of the goodwill recognized is deductible for income tax purposes. The identified intangible assets assumed in the acquisition of Coventor were recognized as follows based upon their fair values as of August 28, 2017: Fair Value Weighted-Average Estimated Useful Life (In thousands) (In years) Existing technology $ 26,200 6.0 Customer relationships 15,000 6.0 Trade names and other intangible assets 7,300 6.4 Total identified intangible assets $ 48,500 6.0 Acquired existing technology represents the fair value of products that have reached technological feasibility and are a part of Coventor’s product offerings and customer relationships represent the fair values of the underlying relationships and agreements with Coventor’s customers.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Sep. 24, 2017
Accounting Policies [Abstract]
Consolidation	The condensed consolidated financial statements include the accounts of Lam Research and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Fiscal period	The Company’s reporting period is a 52/53-week fiscal year. The Company’s current fiscal year will end June 24, 2018 and includes 52 weeks.
Recent accounting pronouncements	Recently Adopted In November 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes.” This ASU amends existing guidance to require that deferred income tax assets and liabilities be classified as non-current in a classified balance sheet, and eliminates the prior guidance which required an entity to separate deferred tax assets and liabilities into a current amount and a non-current amount in a classified balance sheet. The Company adopted this standard prospectively in the first quarter of fiscal year 2018. The implementation resulted in a net reduction of prepaid expense and other current assets of $49.7 million , accrued expense and other current liabilities of $5.3 million , and other long-term liabilities of $39.4 million ; and an increase in other assets of $5.0 million in the Company’s Condensed Consolidated Balance Sheet, and had no impact on cash provided by or used in operations for any period presented. In March 2016, the FASB released ASU 2016-9, “Compensation – Stock Compensation.” Key changes in the amendment include: • entities will be required to recognize all excess tax benefits or deficiencies as an income tax benefit or expense in the income statement, eliminating additional paid in capital (“APIC”) pools; • entities will no longer be required to delay recognition of excess tax benefits until they are realized; • entities will be required to classify the excess tax benefits as an operating activity in the statement of cash flows; • entities will be allowed to elect an accounting policy to either estimate the number of forfeitures, or account for forfeitures as they occur; • entities can withhold up to the maximum individual statutory tax rate without classifying the awards as a liability; and • the cash paid to satisfy the statutory income tax withholding obligations shall be classified as a financing activity in the statement of cash flows. The Company adopted this standard in the first quarter of fiscal year 2018. As a result of the adoption, the Company recorded a $40.9 million cumulative-effect adjustment to retained earnings for the recognition of previously unrecognized excess tax benefits for all years prior to the adoption. As required by the standard update, the amendment was applied prospectively to recognize excess tax benefits or deficiencies in the income statement in the period of occurrence. Additionally, the Company has elected to apply the change in cash flow classification on a prospective basis. The Company has elected to continue to estimate the number of forfeitures expected to occur to determine the amount of compensation cost to be recognized each period. The Company has elected to adopt the effects of the standard update with regard to the income tax withholdings obligations on a prospective basis, such withholdings in the period ended September 24, 2017 were not material. Updates Not Yet Effective In May 2014, the FASB released Accounting Standards Update (“ASU”) 2014-9, “Revenue from Contracts with Customers,” to supersede nearly all existing revenue recognition guidance under GAAP. The FASB issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016 and December 2016 within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, respectively. The core principle of the standard is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The new standard defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. The Company is required to adopt these standards starting in the first quarter of fiscal year 2019 using either of two methods: (1) retrospective to each prior reporting period presented with the option to elect certain practical expedients as defined within the standard; or (2) retrospective with the cumulative effect of initially applying the standard recognized at the date of initial application and providing certain additional disclosures as defined per the standard. The Company has not yet selected a transition method. The Company is continuing its evaluation of the impact that the new standard will have on its Condensed Consolidated Financial Statements and disclosures, business processes, systems, and controls. While the Company’s evaluation of the impact of the standard on its financial statements with respect to its spare parts and service revenue has not been completed, the Company believes that the timing of revenue recognition for certain of its systems will generally be earlier than under existing revenue recognition guidance. The Company continues to evaluate the impact to its revenues related to its pending adoption of these standards and its preliminary assessments are subject to change. In January 2016, the FASB released ASU 2016-1, “Financial Instruments – Overall – Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendment changes the accounting for and financial statement presentation of equity investments, other than those accounted for under the equity method of accounting or those that result in consolidation of the investee. The amendment provides clarity on the measurement methodology to be used for the required disclosure of fair value of financial instruments measured at amortized cost on the balance sheet and clarifies that an entity should evaluate the need for a valuation allowance on deferred tax assets related to available-for-sale securities in combination with the entity’s other deferred tax assets, among other changes. The Company is required to adopt this standard starting in the first quarter of fiscal year 2019 and does not anticipate that implementation will have a material impact on its Condensed Consolidated Financial Statements. In January 2016, the FASB released ASU 2016-2, “Leases.” The amendment requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. The amendment offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The Company is required to adopt this standard starting in the first quarter of fiscal year 2020. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In June 2016, the FASB released ASU 2016-13, “Financial Instruments – Credit Losses.” The amendment revises the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in more timely recognition of losses on financial instruments, including but not limited to, available for sale debt securities and accounts receivable. The Company is required to adopt this standard starting in the first quarter of fiscal year 2021. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In August 2016, the FASB released ASU 2016-15, “Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments.” The amendment provides and clarifies guidance on the classification of certain cash receipts and cash payments in the statement of cash flows to eliminate diversity in practice. The Company is required to adopt the standard update in the first quarter of fiscal year 2019, with a retrospective transition method required. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In October 2016, the FASB released ASU 2016-16, “Income Tax – Intra-Entity Transfers of Assets Other than Inventory.” This standard update improves the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Early adoption is permitted. The Company is required to adopt the standard in the first quarter of fiscal year 2019. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In November 2016, the FASB released ASU 2016-18, “Statement of Cash Flows – Restricted Cash.” This standard update requires that restricted cash and restricted cash equivalents be included in cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown in the statement of cash flows. The Company is required to adopt this standard in the first quarter of fiscal year 2019, with a retrospective transition method required. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements. In August 2017, the FASB released ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities.” The new guidance is intended to: (1) more closely align hedge accounting with an entity’s risk management strategies, (2) simplify the application of hedge accounting by eliminating the requirement to separately measure and report hedge ineffectiveness, and (3) increase transparency around the scope and results of hedging programs. The Company is required to adopt the standard in the first quarter of fiscal year 2020. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption on its Condensed Consolidated Financial Statements.
Inventories	Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value. System shipments to Japanese customers, for which title does not transfer until customer acceptance, are classified as finished goods inventory and carried at cost until title transfers.
Warranties	The Company provides standard warranties on its systems. The liability amount is based on actual historical warranty spending activity by type of system, customer, and geographic region, modified for any known differences such as the impact of system reliability improvements.

EQUITY-BASED COMPENSATION PLA23

EQUITY-BASED COMPENSATION PLANS (Tables)	3 Months Ended
	Sep. 24, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Recognized Equity Based Compensation Expense and Related Income Tax Benefit	The Company recognized the following equity-based compensation expense and related income tax benefit in the Condensed Consolidated Statements of Operations: Three Months Ended September 24, September 25, (in thousands) Equity-based compensation expense $ 41,783 $ 38,595 Income tax benefit recognized related to equity-based compensation expense $ 13,387 $ 10,905

OTHER EXPENSE, NET (Tables)

OTHER EXPENSE, NET (Tables)	3 Months Ended
	Sep. 24, 2017
Other Income and Expenses [Abstract]
Components of Other Expense, Net	The significant components of other expense, net, are as follows: Three Months Ended September 24, September 25, (in thousands) Interest income $ 20,209 $ 12,763 Interest expense (23,905 ) (41,429 ) Gains on deferred compensation plan related assets, net 3,453 6,172 Foreign exchange (losses) gains, net (3,000 ) 1,219 Other, net (2,259 ) (1,879 ) $ (5,502 ) $ (23,154 )

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	3 Months Ended
	Sep. 24, 2017
Earnings Per Share [Abstract]
Schedule of Numerators and Denominators of Basic and Diluted Computations for Net Income Per Share	The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share. Three Months Ended September 24, September 25, (in thousands, except per share data) Numerator: Net income $ 590,690 $ 263,835 Denominator: Basic average shares outstanding 162,141 160,607 Effect of potential dilutive securities: Employee stock plans 2,514 2,142 Convertible notes 15,151 15,220 Warrants 4,074 2,048 Diluted average shares outstanding 183,880 180,017 Net income per share - basic $ 3.64 $ 1.64 Net income per share - diluted $ 3.21 $ 1.47
Schedule of Potentially Dilutive Securities Excluded from EPS Calculations	The following potentially dilutive securities were excluded: Three Months Ended September 24, September 25, (in thousands) Number of options and RSUs excluded 7 196

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Sep. 24, 2017
Fair Value Disclosures [Abstract]
Cash, Cash Equivalents, Investments, Restricted Cash and Investments and Other Assets Measured at Fair Value on Recurring Basis	The following table sets forth the Company’s cash, cash equivalents, investments, restricted cash and investments, and other assets measured at fair value on a recurring basis as of September 24, 2017 , and June 25, 2017 : September 24, 2017 (Reported Within) Cost Unrealized Unrealized Fair Value Cash and Investments Restricted Other (in thousands) Cash $ 543,990 $ — $ — $ 543,990 $ 537,972 $ — $ 6,018 $ — Level 1: Time deposit 693,205 — — 693,205 443,178 — 250,027 — Money market funds 1,395,032 — — 1,395,032 1,395,032 — — — U.S. Treasury and agencies 821,441 265 (2,569 ) 819,137 15,648 803,489 — — Mutual funds 53,131 3,125 (70 ) 56,186 — — — 56,186 Level 1 Total 2,962,809 3,390 (2,639 ) 2,963,560 1,853,858 803,489 250,027 56,186 Level 2: Municipal notes and bonds 165,029 322 (21 ) 165,330 — 165,330 — — U.S. Treasury and agencies 12,798 — (102 ) 12,696 — 12,696 — — Government-sponsored enterprises 55,845 — (322 ) 55,523 — 55,523 — — Foreign government bonds 67,040 90 (128 ) 67,002 — 67,002 — — Corporate notes and bonds 2,532,374 4,020 (2,376 ) 2,534,018 14,632 2,519,386 — — Mortgage backed securities — residential 46,614 63 (116 ) 46,561 — 46,561 — — Mortgage backed securities — commercial 106,173 40 (275 ) 105,938 — 105,938 — — Level 2 Total 2,985,873 4,535 (3,340 ) 2,987,068 14,632 2,972,436 — — Total $ 6,492,672 $ 7,925 $ (5,979 ) $ 6,494,618 $ 2,406,462 $ 3,775,925 $ 256,045 $ 56,186 June 25, 2017 (Reported Within) Cost Unrealized Unrealized Fair Value Cash and Investments Restricted Other (in thousands) Cash $ 551,308 $ — $ — $ 551,308 $ 545,130 $ — $ 6,178 $ — Level 1: Time deposit 640,666 — — 640,666 390,639 — 250,027 — Money market funds 1,423,417 — — 1,423,417 1,423,417 — — — U.S. Treasury and agencies 783,848 684 (2,111 ) 782,421 8,297 774,124 — — Mutual funds 53,247 3,007 — 56,254 — — — 56,254 Level 1 Total 2,901,178 3,691 (2,111 ) 2,902,758 1,822,353 774,124 250,027 56,254 Level 2: Municipal notes and bonds 194,575 308 (7 ) 194,876 — 194,876 — — U.S. Treasury and agencies 12,795 — (167 ) 12,628 — 12,628 — — Government-sponsored enterprises 24,502 — (6 ) 24,496 — 24,496 — — Foreign government bonds 62,917 219 (114 ) 63,022 — 63,022 — — Corporate notes and bonds 2,433,622 4,654 (1,840 ) 2,436,436 10,051 2,426,385 — — Mortgage backed securities — residential 102,760 87 (489 ) 102,358 — 102,358 — — Mortgage backed securities — commercial 65,828 9 (98 ) 65,739 — 65,739 — — Level 2 Total 2,896,999 5,277 (2,721 ) 2,899,555 10,051 2,889,504 — — Total $ 6,349,485 $ 8,968 $ (4,832 ) $ 6,353,621 $ 2,377,534 $ 3,663,628 $ 256,205 $ 56,254
Schedule of Cash, Cash Equivalents, Investments and Restricted Cash and Investments in Unrealized Loss Positions	The following is an analysis of the Company’s cash, cash equivalents, investments, and restricted cash and investments in unrealized loss positions: September 24, 2017 Unrealized Losses Unrealized Losses Total Fair Value Gross Fair Value Gross Fair Value Gross (in thousands) U.S. Treasury and agencies $ 660,429 $ (2,671 ) $ — $ — $ 660,429 $ (2,671 ) Municipal notes and bonds 18,653 (21 ) — — 18,653 (21 ) Mutual funds 3,122 (70 ) — — 3,122 (70 ) Government-sponsored enterprises 55,297 (322 ) — — 55,297 (322 ) Foreign government bonds 33,729 (128 ) — — 33,729 (128 ) Corporate notes and bonds 1,282,655 (2,376 ) — — 1,282,655 (2,376 ) Mortgage backed securities — residential 30,210 (93 ) 2,006 (23 ) 32,216 (116 ) Mortgage backed securities — commercial 98,303 (261 ) 2,634 (14 ) 100,937 (275 ) $ 2,182,398 $ (5,942 ) $ 4,640 $ (37 ) $ 2,187,038 $ (5,979 )
Schedule of Amortized Cost and Fair Value of Cash Equivalents, Investments, Restricted Cash and Investments with Contractual Maturities	The amortized cost and fair value of cash equivalents, investments, and restricted investments with contractual maturities are as follows as of September 24, 2017 : Cost Estimated (in thousands) Due in one year or less $ 2,764,552 $ 2,764,415 Due after one year through five years 2,987,295 2,986,525 Due in more than five years 143,704 143,502 $ 5,895,551 $ 5,894,442
Schedule of Outstanding Foreign Currency Forward Contracts	As of September 24, 2017 , the Company had the following outstanding foreign currency contracts that were entered into under its cash flow and balance sheet hedge programs: Notional Value Derivatives Designated as Derivatives Not Designated (in thousands) Foreign currency forward contracts Buy Contracts Sell Contracts Buy Contracts Sell Contracts Japanese yen $ — $ 393,345 $ — $ 282,311 Euro 31,917 — 31,246 — Korean won 13,536 — — 84,122 Taiwan dollar — — 12,658 — Swiss franc — — 9,375 — Chinese renminbi — — 7,137 Singapore dollar — — 4,469 — $ 45,453 $ 393,345 $ 64,885 $ 366,433 Foreign currency option contracts Buy Put Sell Put Buy Put (1) Sell Put Japanese yen $ 36,036 $ — $ 8,929 $ 8,929 ( 1) Contracts were entered into and designated as cash flow hedges under ASC 815 at contract inception as part of the Company’s cash flow hedge program. The contracts were subsequently de-designated; changes in fair market value subsequent to de-designation effect current earnings.
Schedule of Fair Value of Derivatives Instruments	The fair value of derivative instruments in the Company’s Condensed Consolidated Balance Sheets as of September 24, 2017 , and June 25, 2017 were as follows: September 24, 2017 June 25, 2017 Fair Value of Derivative Instruments (Level 2) Fair Value of Derivative Instruments (Level 2) Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value Balance Sheet Fair Value Balance Sheet Fair Value (in thousands) Derivatives designated as hedging instruments: Foreign exchange forward contracts Prepaid expense $ 9,598 Accrued expenses and other current liabilities $ 368 Prepaid expense $ 8,061 Accrued expenses and other current liabilities $ 2,916 Interest rate contracts, short-term Prepaid expense and other assets 316 Accrued expenses and other current liabilities 2,833 Interest rate contracts, long-term Other long-term liabilities 13,077 Other long-term liabilities 7,269 Derivatives not designated as hedging instruments: Foreign exchange forward contracts Prepaid expense 109 Accrued expenses and other current liabilities 461 Prepaid expense 213 Accrued expenses and other current liabilities 342 Total Derivatives $ 10,023 $ 13,906 $ 8,274 $ 13,360
Schedule of Derivative Instruments Designated as Cash Flow Hedges in Statements of Operations	The effect of derivative instruments designated as cash flow hedges on the Company’s Condensed Consolidated Statements of Operations, including accumulated other comprehensive income (“AOCI”) was as follows: Three Months Ended September 24, 2017 Three Months Ended September 25, 2016 Effective Portion Ineffective Effective Portion Ineffective Derivatives Designated as Hedging Instruments Location of (Loss) Gain (Loss) Gain Gain (Loss) (Loss) Gain (Loss) Gain Gain (Loss) (in thousands) Foreign Exchange Contracts Revenue $ (9 ) $ (3,806 ) $ 2,547 $ (2,913 ) $ (13,605 ) $ 705 Foreign Exchange Contracts Cost of goods sold 2,443 824 (208 ) 235 173 (67 ) Foreign Exchange Contracts Selling, general, and 1,356 714 (117 ) (24 ) (9 ) (21 ) Foreign Exchange Contracts Other expense, net — — (17 ) — — — Interest Rate Contracts Other expense, net — (31 ) — — 9 — $ 3,790 $ (2,299 ) $ 2,205 $ (2,702 ) $ (13,432 ) $ 617 The effect of derivative instruments not designated as cash flow hedges on the Company’s Condensed Consolidated Statements of Operations was as follows: Three Months Ended September 24, September 25, Derivatives Not Designated as Hedging Instruments: Location Gain Loss (in thousands) Foreign Exchange Contracts Other $ 2,672 $ (383 )

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Sep. 24, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: September 24, June 25, (in thousands) Raw materials $ 721,352 $ 625,600 Work-in-process 200,271 213,066 Finished goods 406,674 394,250 $ 1,328,297 $ 1,232,916

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Sep. 24, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following table provides the Company’s intangible assets: September 24, 2017 June 25, 2017 Gross Accumulated Net Gross Accumulated Net (in thousands) Customer relationships $ 630,257 $ (383,131 ) $ 247,126 $ 615,164 $ (366,439 ) $ 248,725 Existing technology 669,603 (508,983 ) 160,620 643,196 (487,056 ) 156,140 Patents 36,553 (31,872 ) 4,681 36,553 (31,238 ) 5,315 Other intangible assets 43,814 (35,882 ) 7,932 36,514 (35,699 ) 815 Total intangible assets $ 1,380,227 $ (959,868 ) $ 420,359 $ 1,331,427 $ (920,432 ) $ 410,995
Estimated Future Amortization Expense of Intangible Assets	The estimated future amortization expense of intangible assets, excluding those with indefinite lives, as of September 24, 2017 , was as follows: Fiscal Year Amount (in thousands) 2018 (remaining 9 months) $ 121,147 2019 123,429 2020 58,296 2021 55,611 2022 51,801 Thereafter 10,075 $ 420,359

ACCRUED EXPENSES AND OTHER CU29

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Sep. 24, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: September 24, June 25, (in thousands) Accrued compensation $ 510,583 $ 447,363 Warranty reserves 168,337 161,981 Income and other taxes payable 145,022 95,127 Dividend payable 73,127 72,738 Other 181,929 192,152 $ 1,078,998 $ 969,361

LONG-TERM DEBT AND OTHER BORR30

LONG-TERM DEBT AND OTHER BORROWINGS (Tables)	3 Months Ended
	Sep. 24, 2017
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	As of September 24, 2017 , and June 25, 2017 , the Company’s outstanding debt consisted of the following: September 24, 2017 June 25, 2017 Amount (in thousands) Effective Interest Rate Amount (in thousands) Effective Interest Rate Fixed-rate 1.25% Convertible Notes Due May 15, 2018 ("2018 Notes") $ 238,367 (1) 5.27 % $ 447,436 (2) 5.27 % Fixed-rate 2.75% Senior Notes Due March 15, 2020 ("2020 Notes") 500,000 2.88 % 500,000 2.88 % Fixed-rate 2.80% Senior Notes Due June 15, 2021 ("2021 Notes") 800,000 2.95 % 800,000 2.95 % Fixed-rate 3.80% Senior Notes Due March 15, 2025 ("2025 Notes") 500,000 3.87 % 500,000 3.87 % Fixed-rate 2.625% Convertible Notes Due May 15, 2041 ("2041 Notes") 538,468 (1) 4.28 % 631,074 (2) 4.28 % Total debt outstanding, at par 2,576,835 2,878,510 Unamortized discount (145,241 ) (178,589 ) Fair value adjustment - interest rate contracts (12,761 ) (10,102 ) Unamortized bond issuance costs (2,798 ) (3,161 ) Total debt outstanding, at carrying value $ 2,416,035 $ 2,686,658 Reported as: Current portion of long-term debt $ 639,252 (3) $ 907,827 (3) Long-term debt 1,776,783 1,778,831 Total debt outstanding, at carrying value $ 2,416,035 $ 2,686,658 ____________________________ (1) As of September 24, 2017 , these notes were convertible at the option of the bondholder, as a result of the condition described in (3) below. Upon closure of the conversion period, the 2041 Notes not converted will be reclassified back into noncurrent liabilities and the temporary equity will be reclassified into permanent equity. (2) As of June 25, 2017 , these notes were convertible at the option of the bond holder, as a result of the condition described in (3) below. (3) As of the report date, the market value of the Company’s Common Stock was greater than 130% of the convertible notes conversion price for 20 or more of the 30 consecutive trading days preceding the quarter-end. As a result, the 2041 Notes were classified in current liabilities and a portion of the equity component, associated with the convertible notes representing the unamortized discount, was classified in temporary equity on the Company’s Consolidated Balance Sheets.
Components of Convertible Notes	Selected additional information regarding the Convertible Notes outstanding as of September 24, 2017 , and June 25, 2017 , is as follows: September 24, 2017 June 25, 2017 2018 Notes 2041 Notes 2018 Notes 2041 Notes (in thousands, except years, percentages, conversion rate, and conversion price) Carrying amount of permanent equity component, net of tax $ 92,388 $ 157,210 $ 89,604 $ 156,374 Carrying amount of temporary equity component, net of tax $ 5,816 $ 131,180 $ 15,186 $ 154,675 Remaining amortization period (years) 0.6 23.6 0.8 23.8 Fair Value of Notes (Level 2) $ 697,829 $ 2,805,294 Conversion rate (shares of common stock per $1,000 principal amount of notes) 16.6142 29.8160 Conversion price (per share of common stock) $ 60.19 $ 33.54 If-converted value in excess of par value $ 461,533 $ 2,298,926 Estimated share dilution using average quarterly stock price $159.71 per share 2,468 12,683
Warrants and Convertible Note Hedge Arrangements	The following table presents the details of the warrants and convertible note hedge arrangements as of September 24, 2017 : 2018 Notes (shares in thousands) Warrants: Underlying shares 7,476 Estimated share dilution using average quarterly stock price $159.71 per share 4,074 Exercise price $ 72.69 Expiration date range August 15 - October 24, 2018 Convertible Note Hedge: Number of shares available from counterparties 3,960 Exercise price $ 60.19
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	Selected additional information regarding the Senior Notes outstanding as of September 24, 2017 , is as follows: Remaining Amortization period Fair Value of Notes (Level 2) (years) (in thousands) 2020 Notes 2.5 $ 507,915 2021 Notes 3.7 $ 810,384 2025 Notes 7.5 $ 518,625
Schedule of Recognized Interest Cost Relating to Both Contractual Interest Coupon and Amortization of Discount on Liability Component of Notes	The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Convertible Notes, the Senior Notes, the term loan agreement and the revolving credit facility during the three months ended September 24, 2017 , and September 25, 2016 . Three Months Ended September 24, September 25, (in thousands) Contractual interest coupon $ 17,956 $ 34,712 Amortization of interest discount 4,104 5,914 Amortization of issuance costs 485 918 Effect of interest rate contracts, net (349 ) (1,058 ) Total interest cost recognized $ 22,196 $ 40,486

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Sep. 24, 2017
Commitments and Contingencies Disclosure [Abstract]
Warranties	Changes in the Company’s product warranty reserves were as follows: Three Months Ended September 24, September 25, (in thousands) Balance at beginning of period $ 161,981 $ 100,321 Warranties issued during the period 48,790 34,855 Settlements made during the period (44,053 ) (32,228 ) Changes in liability for pre-existing warranties 1,619 278 Balance at end of period $ 168,337 $ 103,226

STOCK REPURCHASE PROGRAM (Table

STOCK REPURCHASE PROGRAM (Tables)	3 Months Ended
	Sep. 24, 2017
Equity [Abstract]
Repurchases Under the Repurchase Program	Repurchases under the repurchase program were as follows during the periods indicated: Period Total Number of Total Cost of Average Price (1) Amount (in thousands, except per share data) Available balance as of June 25, 2017 $ 282,141 Quarter ended September 24, 2017 1,779 $ 157,938 $ 158.40 $ 124,203 (1) Average price paid per share excludes effect of accelerated share repurchases; see additional disclosure below regarding our accelerated share repurchase activity during the fiscal year.

ACCUMULATED OTHER COMPREHENSI33

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Sep. 24, 2017
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) (“AOCI”), net of tax at the end of the period, as well as the activity during the period, were as follows: Accumulated Foreign Currency Translation Adjustment Accumulated Accumulated Accumulated Total (in thousands) Balance as of June 25, 2017 $ (42,371 ) $ (811 ) $ 1,106 $ (19,624 ) $ (61,700 ) Other comprehensive income (loss) before reclassifications 7,886 3,062 (1,727 ) (2,356 ) 6,865 Losses (income) reclassified from accumulated other comprehensive income (loss) to net income (17 ) (1) 2,188 (2) (123 ) (1) — 2,048 Net current-period other comprehensive income (loss) $ 7,869 $ 5,250 $ (1,850 ) $ (2,356 ) $ 8,913 Balance as of September 24, 2017 $ (34,502 ) $ 4,439 $ (744 ) $ (21,980 ) $ (52,787 ) (1) Amount of after tax gain reclassified from accumulated other comprehensive income into net income located in other expense, net. (2) Amount of after tax gain reclassified from AOCI into net income located in revenue: $3,383 loss; cost of goods sold: $678 gain; selling, general, and administrative expenses: $537 gain; and other income and expense: $20 loss.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	3 Months Ended
	Sep. 24, 2017
Business Combinations [Abstract]
Schedule of Preliminary Purchase Price Allocation	The following table represents the preliminary purchase price allocation and summarizes the aggregate estimated fair value of the net assets acquired on the closing date of the acquisition: Preliminary Purchase Price Allocation (In thousands) Intangible assets $ 48,500 Assets acquired (including cash of $8.7 million) 12,796 Goodwill 97,832 Liabilities assumed (21,517 ) Fair value of net assets acquired $ 137,611
Schedule of Identified Intangible Assets Assumed in the Acquisition	The identified intangible assets assumed in the acquisition of Coventor were recognized as follows based upon their fair values as of August 28, 2017: Fair Value Weighted-Average Estimated Useful Life (In thousands) (In years) Existing technology $ 26,200 6.0 Customer relationships 15,000 6.0 Trade names and other intangible assets 7,300 6.4 Total identified intangible assets $ 48,500 6.0

RECENT ACCOUNTING PRONOUNCEME35

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017	[1]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid expenses and other current assets	$ 187,334	$ 195,022
Accrued expenses and other current liabilities	1,078,998	969,361
Other long-term liabilities	(278,733)	(280,186)
Other assets	263,812	$ 241,799
ASU 2015-17
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Prepaid expenses and other current assets	(49,700)
Accrued expenses and other current liabilities	(5,300)
Other long-term liabilities	39,400
Other assets	5,000
ASU 2016-9 | Retained earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment to retained earnings	$ 40,900
[1]	Derived from audited financial statements

EQUITY-BASED COMPENSATION PLA36

EQUITY-BASED COMPENSATION PLANS - Additional Information (Details)	3 Months Ended
	Sep. 24, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options and restricted stock units vesting period (years)	3 years

EQUITY-BASED COMPENSATION PLA37

EQUITY-BASED COMPENSATION PLANS - Recognized Equity Based Compensation Expenses and Related Income Tax Benefit (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-based compensation expense	$ 41,783	$ 38,595
Income tax benefit recognized related to equity-based compensation expense	$ 13,387	$ 10,905

OTHER EXPENSE, NET (Details)

OTHER EXPENSE, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Other Income and Expenses [Abstract]
Interest income	$ 20,209	$ 12,763
Interest expense	(23,905)	(41,429)
Gains on deferred compensation plan related assets, net	3,453	6,172
Foreign exchange (losses) gains, net	(3,000)	1,219
Other, net	(2,259)	(1,879)
Other expense, net	$ (5,502)	$ (23,154)

INCOME TAX EXPENSE (Details)

INCOME TAX EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 97,030	$ 28,958
Effective income tax rate	14.10%
U.S. federal statutory tax rate	35.00%
Tax examinations or lapses of statute of limitation | Minimum
Income Tax Contingency [Line Items]
Estimated unrecognized tax benefits reduction	$ 15,000
Tax examinations or lapses of statute of limitation | Maximum
Income Tax Contingency [Line Items]
Estimated unrecognized tax benefits reduction	$ 50,000

NET INCOME PER SHARE - Schedule

NET INCOME PER SHARE - Schedule of Numerators and Denominators of Basic and Diluted Computations for Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Numerator:
Net income	$ 590,690	$ 263,835
Denominator:
Basic average shares outstanding (in shares)	162,141	160,607
Effect of potential dilutive securities:
Employee stock plans (in shares)	2,514	2,142
Convertible notes (in shares)	15,151	15,220
Warrants (in shares)	4,074	2,048
Diluted average shares outstanding (in shares)	183,880	180,017
Net income per share - basic (in dollars per share)	$ 3.64	$ 1.64
Net income per share - diluted (in dollars per share)	$ 3.21	$ 1.47

NET INCOME PER SHARE - Schedu41

NET INCOME PER SHARE - Schedule of Potentially Dilutive Securities Excluded from EPS Calculations (Details) - shares shares in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Earnings Per Share [Abstract]
Number of options and RSUs excluded (in shares)	7	196

FINANCIAL INSTRUMENTS - Cash, C

FINANCIAL INSTRUMENTS - Cash, Cash Equivalents, Investments, Restricted Cash and Investments and Other Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	$ 6,492,672	$ 6,349,485
Unrealized Gain	7,925	8,968
Unrealized (Loss)	(5,979)	(4,832)
Fair Value	6,494,618	6,353,621
Cash and Cash Equivalents	2,406,462	2,377,534
Investments	3,775,925	3,663,628
Restricted Cash & Investments	256,045	256,205
Other Assets	56,186	56,254
Fair Value Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	2,962,809	2,901,178
Unrealized Gain	3,390	3,691
Unrealized (Loss)	(2,639)	(2,111)
Fair Value	2,963,560	2,902,758
Cash and Cash Equivalents	1,853,858	1,822,353
Investments	803,489	774,124
Restricted Cash & Investments	250,027	250,027
Other Assets	56,186	56,254
Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	2,985,873	2,896,999
Unrealized Gain	4,535	5,277
Unrealized (Loss)	(3,340)	(2,721)
Fair Value	2,987,068	2,899,555
Cash and Cash Equivalents	14,632	10,051
Investments	2,972,436	2,889,504
Restricted Cash & Investments	0	0
Other Assets	0	0
Cash
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	543,990	551,308
Unrealized Gain	0	0
Unrealized (Loss)	0	0
Fair Value	543,990	551,308
Cash and Cash Equivalents	537,972	545,130
Investments	0	0
Restricted Cash & Investments	6,018	6,178
Other Assets	0	0
Time deposit | Fair Value Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	693,205	640,666
Unrealized Gain	0	0
Unrealized (Loss)	0	0
Fair Value	693,205	640,666
Cash and Cash Equivalents	443,178	390,639
Investments	0	0
Restricted Cash & Investments	250,027	250,027
Other Assets	0	0
Money market funds | Fair Value Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	1,395,032	1,423,417
Unrealized Gain	0	0
Unrealized (Loss)	0	0
Fair Value	1,395,032	1,423,417
Cash and Cash Equivalents	1,395,032	1,423,417
Investments	0	0
Restricted Cash & Investments	0	0
Other Assets	0	0
U.S. Treasury and agencies | Fair Value Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	821,441	783,848
Unrealized Gain	265	684
Unrealized (Loss)	(2,569)	(2,111)
Fair Value	819,137	782,421
Cash and Cash Equivalents	15,648	8,297
Investments	803,489	774,124
Restricted Cash & Investments	0	0
Other Assets	0	0
U.S. Treasury and agencies | Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	12,798	12,795
Unrealized Gain	0	0
Unrealized (Loss)	(102)	(167)
Fair Value	12,696	12,628
Cash and Cash Equivalents	0	0
Investments	12,696	12,628
Restricted Cash & Investments	0	0
Other Assets	0	0
Mutual funds | Fair Value Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	53,131	53,247
Unrealized Gain	3,125	3,007
Unrealized (Loss)	(70)	0
Fair Value	56,186	56,254
Cash and Cash Equivalents	0	0
Investments	0	0
Restricted Cash & Investments	0	0
Other Assets	56,186	56,254
Municipal notes and bonds | Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	165,029	194,575
Unrealized Gain	322	308
Unrealized (Loss)	(21)	(7)
Fair Value	165,330	194,876
Cash and Cash Equivalents	0	0
Investments	165,330	194,876
Restricted Cash & Investments	0	0
Other Assets	0	0
Government-sponsored enterprises | Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	55,845	24,502
Unrealized Gain	0	0
Unrealized (Loss)	(322)	(6)
Fair Value	55,523	24,496
Cash and Cash Equivalents	0	0
Investments	55,523	24,496
Restricted Cash & Investments	0	0
Other Assets	0	0
Foreign government bonds | Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	67,040	62,917
Unrealized Gain	90	219
Unrealized (Loss)	(128)	(114)
Fair Value	67,002	63,022
Cash and Cash Equivalents	0	0
Investments	67,002	63,022
Restricted Cash & Investments	0	0
Other Assets	0	0
Corporate notes and bonds | Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	2,532,374	2,433,622
Unrealized Gain	4,020	4,654
Unrealized (Loss)	(2,376)	(1,840)
Fair Value	2,534,018	2,436,436
Cash and Cash Equivalents	14,632	10,051
Investments	2,519,386	2,426,385
Restricted Cash & Investments	0	0
Other Assets	0	0
Mortgage backed securities — residential | Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	46,614	102,760
Unrealized Gain	63	87
Unrealized (Loss)	(116)	(489)
Fair Value	46,561	102,358
Cash and Cash Equivalents	0	0
Investments	46,561	102,358
Restricted Cash & Investments	0	0
Other Assets	0	0
Mortgage backed securities — commercial | Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cost	106,173	65,828
Unrealized Gain	40	9
Unrealized (Loss)	(275)	(98)
Fair Value	105,938	65,739
Cash and Cash Equivalents	0	0
Investments	105,938	65,739
Restricted Cash & Investments	0	0
Other Assets	$ 0	$ 0

FINANCIAL INSTRUMENTS - Additio

FINANCIAL INSTRUMENTS - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Jun. 25, 2017
Fair Value Disclosures [Abstract]
Other than temporary impairment included in net realized gains (losses)	$ 0	$ 0
Gross realized gains from sale of investments	800,000	2,600,000
Gross realized losses from sale of investments	(1,000,000)	$ (200,000)
Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange contracts amount of offset, assets	5,100,000
Foreign exchange contracts amount of offset, liabilities	5,100,000		$ 5,900,000
Net derivative asset from master netting agreements	4,900,000
Net derivative liability from master netting agreements	8,800,000
Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange contracts amount of offset, assets			5,900,000
Net derivative asset from master netting agreements			2,300,000
Net derivative liability from master netting agreements			$ 7,400,000
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain reclassification from AOCI to income, in the next 12 months	$ 6,300,000
Foreign currency cash flow hedge, expiration period	12 months
Losses accumulated in other comprehensive income expected to reclassify from other comprehensive income into earnings	$ 1,900,000
Gains (losses) accumulated in other comprehensive income expected to reclassify from other comprehensive income into earnings, estimate of time to transfer	7 years 6 months
Cash Flow Hedges | Minimum
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency cash flow hedge, expiration period	12 months
Cash Flow Hedges | Maximum
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency cash flow hedge, expiration period	24 months

FINANCIAL INSTRUMENTS - Schedul

FINANCIAL INSTRUMENTS - Schedule of Cash, Cash Equivalents, Investments and Restricted Cash and Investments Unrealized Loss Positions (Details) $ in Thousands	Sep. 24, 2017USD ($)
Fair Value
Unrealized Losses Less than 12 Months	$ 2,182,398
Unrealized Losses 12 Months or Greater	4,640
Total	2,187,038
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(5,942)
Unrealized Losses 12 Months or Greater	(37)
Total	(5,979)
U.S. Treasury and agencies
Fair Value
Unrealized Losses Less than 12 Months	660,429
Unrealized Losses 12 Months or Greater	0
Total	660,429
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(2,671)
Unrealized Losses 12 Months or Greater	0
Total	(2,671)
Mutual funds
Fair Value
Unrealized Losses Less than 12 Months	3,122
Unrealized Losses 12 Months or Greater	0
Total	3,122
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(70)
Unrealized Losses 12 Months or Greater	0
Total	(70)
Municipal notes and bonds
Fair Value
Unrealized Losses Less than 12 Months	18,653
Unrealized Losses 12 Months or Greater	0
Total	18,653
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(21)
Unrealized Losses 12 Months or Greater	0
Total	(21)
Government-sponsored enterprises
Fair Value
Unrealized Losses Less than 12 Months	55,297
Unrealized Losses 12 Months or Greater	0
Total	55,297
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(322)
Unrealized Losses 12 Months or Greater	0
Total	(322)
Foreign government bonds
Fair Value
Unrealized Losses Less than 12 Months	33,729
Unrealized Losses 12 Months or Greater	0
Total	33,729
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(128)
Unrealized Losses 12 Months or Greater	0
Total	(128)
Corporate notes and bonds
Fair Value
Unrealized Losses Less than 12 Months	1,282,655
Unrealized Losses 12 Months or Greater	0
Total	1,282,655
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(2,376)
Unrealized Losses 12 Months or Greater	0
Total	(2,376)
Mortgage backed securities — residential
Fair Value
Unrealized Losses Less than 12 Months	30,210
Unrealized Losses 12 Months or Greater	2,006
Total	32,216
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(93)
Unrealized Losses 12 Months or Greater	(23)
Total	(116)
Mortgage backed securities — commercial
Fair Value
Unrealized Losses Less than 12 Months	98,303
Unrealized Losses 12 Months or Greater	2,634
Total	100,937
Gross Unrealized Loss
Unrealized Losses Less than 12 Months	(261)
Unrealized Losses 12 Months or Greater	(14)
Total	$ (275)

FINANCIAL INSTRUMENTS - Sched45

FINANCIAL INSTRUMENTS - Schedule of Amortized Cost and Fair Value of Cash Equivalents, Investments, and Restricted Cash and Investments with Contractual Maturities (Details) $ in Thousands	Sep. 24, 2017USD ($)
Cost
Due in one year or less	$ 2,764,552
Due after one year through five years	2,987,295
Due in more than five years	143,704
Total	5,895,551
Estimated Fair Value
Due in one year or less	2,764,415
Due after one year through five years	2,986,525
Due in more than five years	143,502
Total	$ 5,894,442

FINANCIAL INSTRUMENTS - Sched46

FINANCIAL INSTRUMENTS - Schedule of Outstanding Foreign Currency Forward Contracts (Details) - Foreign exchange forward contracts $ in Thousands	Sep. 24, 2017USD ($)
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Derivative notional amount	$ 45,453
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Euro
Derivative [Line Items]
Derivative notional amount	31,917
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Korean won
Derivative [Line Items]
Derivative notional amount	13,536
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Taiwan dollar
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Swiss franc
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Chinese renminbi
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Singapore dollar
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments
Derivative [Line Items]
Derivative notional amount	64,885
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Euro
Derivative [Line Items]
Derivative notional amount	31,246
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Korean won
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Taiwan dollar
Derivative [Line Items]
Derivative notional amount	12,658
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Swiss franc
Derivative [Line Items]
Derivative notional amount	9,375
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Chinese renminbi
Derivative [Line Items]
Derivative notional amount	7,137
Foreign currency forward contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Singapore dollar
Derivative [Line Items]
Derivative notional amount	4,469
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Derivative notional amount	393,345
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	393,345
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Euro
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Korean won
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Taiwan dollar
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Swiss franc
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Chinese renminbi
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Singapore dollar
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments
Derivative [Line Items]
Derivative notional amount	366,433
Foreign currency forward contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	282,311
Foreign currency forward contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments | Euro
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments | Korean won
Derivative [Line Items]
Derivative notional amount	84,122
Foreign currency forward contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments | Taiwan dollar
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments | Swiss franc
Derivative [Line Items]
Derivative notional amount	0
Foreign currency forward contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments | Singapore dollar
Derivative [Line Items]
Derivative notional amount	0
Foreign currency option contracts | Buy Contracts | Derivatives Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	36,036
Foreign currency option contracts | Buy Contracts | Derivatives Not Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	8,929
Foreign currency option contracts | Sell Contracts | Derivatives Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	0
Foreign currency option contracts | Sell Contracts | Derivatives Not Designated as Hedging Instruments | Japanese yen
Derivative [Line Items]
Derivative notional amount	$ 8,929

FINANCIAL INSTRUMENTS - Sched47

FINANCIAL INSTRUMENTS - Schedule of Fair Value of Derivative Instruments (Details) - Fair Value of Derivative Instruments (Level 2) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Derivatives	$ 10,023	$ 8,274
Liability Derivatives	13,906	13,360
Derivatives Designated as Hedging Instruments | Prepaid expense and other assets | Foreign exchange forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Derivatives	9,598	8,061
Derivatives Designated as Hedging Instruments | Prepaid expense and other assets | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Derivatives	316
Derivatives Designated as Hedging Instruments | Accrued expenses and other current liabilities | Foreign exchange forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	368	2,916
Derivatives Designated as Hedging Instruments | Accrued expenses and other current liabilities | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives		2,833
Derivatives Designated as Hedging Instruments | Other long-term liabilities | Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	13,077	7,269
Derivatives Not Designated as Hedging Instruments | Prepaid expense and other assets | Foreign exchange forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Derivatives	109	213
Derivatives Not Designated as Hedging Instruments | Accrued expenses and other current liabilities | Foreign exchange forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	$ 461	$ 342

FINANCIAL INSTRUMENTS - Sched48

FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments Designated as Cash Flow Hedges in Statements of Operations Including Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Loss) Gain Recognized in AOCI (Effective Portion)	$ 3,790	$ (2,702)
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)	(2,299)	(13,432)
Gain (Loss) Recognized In Income (Excluded from Effectiveness)	2,205	617
Foreign Exchange Contracts | Revenue
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Loss) Gain Recognized in AOCI (Effective Portion)	(9)	(2,913)
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)	(3,806)	(13,605)
Gain (Loss) Recognized In Income (Excluded from Effectiveness)	2,547	705
Foreign Exchange Contracts | Cost of goods sold
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Loss) Gain Recognized in AOCI (Effective Portion)	2,443	235
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)	824	173
Gain (Loss) Recognized In Income (Excluded from Effectiveness)	(208)	(67)
Foreign Exchange Contracts | Selling, general, and administrative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Loss) Gain Recognized in AOCI (Effective Portion)	1,356	(24)
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)	714	(9)
Gain (Loss) Recognized In Income (Excluded from Effectiveness)	(117)	(21)
Foreign Exchange Contracts | Other expense, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Loss) Gain Recognized in AOCI (Effective Portion)	0	0
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)	0	0
Gain (Loss) Recognized In Income (Excluded from Effectiveness)	(17)	0
Foreign Exchange Contracts | Other income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (Loss) Recognized In Income	2,672	(383)
Interest Rate Contracts | Other expense, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Loss) Gain Recognized in AOCI (Effective Portion)	0	0
(Loss) Gain Reclassified from AOCI into Income (Effective Portion)	(31)	9
Gain (Loss) Recognized In Income (Excluded from Effectiveness)	$ 0	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 721,352	$ 625,600
Work-in-process	200,271	213,066
Finished goods	406,674	394,250
Total inventories	$ 1,328,297	$ 1,232,916	[1]
[1]	Derived from audited financial statements

GOODWILL AND INTANGIBLE ASSET50

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Aug. 28, 2017	Jun. 25, 2017	[1]
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,484,030		$ 97,832	$ 1,385,673
Tax deductible goodwill	61,100
Intangible asset amortization expense	$ 39,300	$ 38,700
[1]	Derived from audited financial statements

GOODWILL AND INTANGIBLE ASSET51

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,380,227	$ 1,331,427
Accumulated Amortization	(959,868)	(920,432)
Net	420,359	410,995
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	630,257	615,164
Accumulated Amortization	(383,131)	(366,439)
Net	247,126	248,725
Existing technology
Finite-Lived Intangible Assets [Line Items]
Gross	669,603	643,196
Accumulated Amortization	(508,983)	(487,056)
Net	160,620	156,140
Patents
Finite-Lived Intangible Assets [Line Items]
Gross	36,553	36,553
Accumulated Amortization	(31,872)	(31,238)
Net	4,681	5,315
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross	43,814	36,514
Accumulated Amortization	(35,882)	(35,699)
Net	$ 7,932	$ 815

GOODWILL AND INTANGIBLE ASSET52

GOODWILL AND INTANGIBLE ASSETS - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017
Fiscal Year
2018 (remaining 9 months)	$ 121,147
2,019	123,429
2,020	58,296
2,021	55,611
2,022	51,801
Thereafter	10,075
Net	$ 420,359	$ 410,995

ACCRUED EXPENSES AND OTHER CU53

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017
Payables and Accruals [Abstract]
Accrued compensation	$ 510,583	$ 447,363
Warranty reserves	168,337	161,981
Income and other taxes payable	145,022	95,127
Dividend payable	73,127	72,738
Other	181,929	192,152
Accrued expenses and other current liabilities	$ 1,078,998	$ 969,361	[1]
[1]	Derived from audited financial statements

LONG-TERM DEBT AND OTHER BORR54

LONG-TERM DEBT AND OTHER BORROWINGS - Schedule of Outstanding Debt (Details) - USD ($)	Sep. 24, 2017	Jun. 25, 2017	Jun. 07, 2016	Mar. 12, 2015	Jun. 30, 2012	May 31, 2011
Debt Instrument [Line Items]
Amount	$ 2,576,835,000	$ 2,878,510,000
Unamortized discount	(145,241,000)	(178,589,000)
Fair value adjustment - interest rate contracts	(12,761,000)	(10,102,000)
Unamortized bond issuance costs	(2,798,000)	(3,161,000)
Total debt outstanding, at carrying value	2,416,035,000	2,686,658,000
Current portion of long-term debt	639,252,000	907,827,000
Long-term debt	1,776,783,000	1,778,831,000
Total debt outstanding, at carrying value	2,416,035,000	2,686,658,000
Fixed-rate 1.25% Convertible Notes Due May 15, 2018 (2018 Notes)
Debt Instrument [Line Items]
Senior notes interest rate						1.25%
Fixed-rate 2.625% Convertible Notes Due May 15, 2041 (2041 Notes)
Debt Instrument [Line Items]
Senior notes interest rate					2.625%
Convertible debt | Fixed-rate 1.25% Convertible Notes Due May 15, 2018 (2018 Notes)
Debt Instrument [Line Items]
Amount	$ 238,367,000	$ 447,436,000
Effective Interest Rate	5.27%	5.27%
Senior notes interest rate	1.25%
Convertible debt | Fixed-rate 2.625% Convertible Notes Due May 15, 2041 (2041 Notes)
Debt Instrument [Line Items]
Amount	$ 538,468,000	$ 631,074,000
Effective Interest Rate	4.28%	4.28%
Senior notes interest rate	2.625%
Senior notes | Fixed-rate 2.75% Senior Notes Due March 15, 2020 (2020 Notes)
Debt Instrument [Line Items]
Amount	$ 500,000,000	$ 500,000,000
Effective Interest Rate	2.88%	2.88%
Senior notes interest rate	2.75%			2.75%
Senior notes | Fixed-rate 2.80% Senior Notes Due June 15, 2021 (2021 Notes)
Debt Instrument [Line Items]
Amount	$ 800,000,000	$ 800,000,000	$ 800,000,000
Effective Interest Rate	2.95%	2.95%
Senior notes interest rate	2.80%		2.80%
Senior notes | Fixed-rate 3.80% Senior Notes Due March 15, 2025 (2025 Notes)
Debt Instrument [Line Items]
Amount	$ 500,000,000	$ 500,000,000
Effective Interest Rate	3.87%	3.87%
Senior notes interest rate	3.80%			3.80%

LONG-TERM DEBT AND OTHER BORR55

LONG-TERM DEBT AND OTHER BORROWINGS - Schedule of Outstanding Debt Footnotes (Details) - Convertible debt	3 Months Ended
	Sep. 24, 2017d
Debt Instrument [Line Items]
Stock price percentage of conversion price	130.00%
Number of days on which common stock sale price was greater than or equal to 130% of conversion price, in a period of 30 consecutive trading days ending on the last trading day of the preceding the quarter	20
Number of consecutive trading days period required	30 days

LONG-TERM DEBT AND OTHER BORR56

LONG-TERM DEBT AND OTHER BORROWINGS - Convertible Senior Notes (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jun. 30, 2012	Sep. 24, 2017	May 31, 2011
Convertible debt
Debt Instrument [Line Items]
Conversion of notes		$ 301,700,000
Fixed-rate 1.25% Convertible Notes Due May 15, 2018 (2018 Notes)
Debt Instrument [Line Items]
Principal amount			$ 450,000,000
Senior notes interest rate			1.25%
Fixed-rate 1.25% Convertible Notes Due May 15, 2018 (2018 Notes) | Convertible debt
Debt Instrument [Line Items]
Senior notes interest rate		1.25%
Fixed-rate 2.625% Convertible Notes Due May 15, 2041 (2041 Notes)
Debt Instrument [Line Items]
Principal amount	$ 700,000,000
Senior notes interest rate	2.625%
Fixed-rate 2.625% Convertible Notes Due May 15, 2041 (2041 Notes) | Convertible debt
Debt Instrument [Line Items]
Senior notes interest rate		2.625%
Fixed-rate 2.625% Convertible Notes Due May 15, 2041 (2041 Notes) | Maximum
Debt Instrument [Line Items]
Maximum amount of contingent interest rate	0.60%

LONG-TERM DEBT AND OTHER BORR57

LONG-TERM DEBT AND OTHER BORROWINGS - Components of Convertible Senior Notes (Details)	3 Months Ended
	Sep. 24, 2017USD ($)$ / sharesshares	Sep. 25, 2016	Jun. 25, 2017USD ($)
2018 Notes
Debt Instrument [Line Items]
Remaining amortization period (years)	6 months 23 days	9 months 23 days
Fair Value of Notes (Level 2)	$ 697,829,000
Conversion rate (shares of common stock per $1,000 principal amount of notes)	0.0166142
Principal amount of convertible debt conversion increments	$ 1,000
Conversion price (per share of common stock) (in dollars per share) | $ / shares	$ 60.19
If-converted value in excess of par value	$ 461,533,000
Estimated share dilution using average quarterly stock price $159.71 per share | shares	2,468,000
Average quarterly stock price (in dollars per share) | $ / shares	$ 159.71
Shares received during settlement | shares	2,092,000
2018 Notes | Permanent Equity
Debt Instrument [Line Items]
Carrying amount of equity component, net of tax	$ 92,388,000		$ 89,604,000
2018 Notes | Temporary Equity
Debt Instrument [Line Items]
Carrying amount of equity component, net of tax	$ 5,816,000		15,186,000
2041 Notes
Debt Instrument [Line Items]
Remaining amortization period (years)	23 years 6 months 23 days	23 years 9 months 23 days
Fair Value of Notes (Level 2)	$ 2,805,294,000
Conversion rate (shares of common stock per $1,000 principal amount of notes)	0.0298160
Principal amount of convertible debt conversion increments	$ 1,000
Conversion price (per share of common stock) (in dollars per share) | $ / shares	$ 33.54
If-converted value in excess of par value	$ 2,298,926,000
Estimated share dilution using average quarterly stock price $159.71 per share | shares	12,683,000
Average quarterly stock price (in dollars per share) | $ / shares	$ 159.71
2041 Notes | Permanent Equity
Debt Instrument [Line Items]
Carrying amount of equity component, net of tax	$ 157,210,000		156,374,000
2041 Notes | Temporary Equity
Debt Instrument [Line Items]
Carrying amount of equity component, net of tax	$ 131,180,000		$ 154,675,000

LONG-TERM DEBT AND OTHER BORR58

LONG-TERM DEBT AND OTHER BORROWINGS - Warrants and Convertible Note Hedge Arrangements (Details) - $ / shares shares in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Class of Warrant or Right [Line Items]
Estimated share dilution using average quarterly stock price $159.71 per share	4,074	2,048
2018 Notes
Class of Warrant or Right [Line Items]
Average quarterly stock price (in dollars per share)	$ 159.71
2018 Notes | Warrants
Class of Warrant or Right [Line Items]
Underlying shares	7,476
Estimated share dilution using average quarterly stock price $159.71 per share	4,074
Average quarterly stock price (in dollars per share)	$ 159.71
Exercise price (in dollars per share)	72.69
2018 Notes | Convertible Note Hedge
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 60.19
Number of shares available from counterparties	3,960

LONG-TERM DEBT AND OTHER BORR59

LONG-TERM DEBT AND OTHER BORROWINGS - Senior Notes (Details) - USD ($)	Mar. 12, 2015	Sep. 24, 2017	Jun. 25, 2017	Jun. 07, 2016
Debt Instrument [Line Items]
Amount		$ 2,576,835,000	$ 2,878,510,000
Senior notes
Debt Instrument [Line Items]
Percentage of principal amount of debt redeemed	100.00%
Senior notes | 2020 Notes
Debt Instrument [Line Items]
Principal amount	$ 500,000,000
Senior notes interest rate	2.75%	2.75%
Amount		$ 500,000,000	500,000,000
Senior notes | 2025 Notes
Debt Instrument [Line Items]
Principal amount	$ 500,000,000
Senior notes interest rate	3.80%	3.80%
Debt instrument, redemption price (percentage)	101.00%
Amount		$ 500,000,000	500,000,000
Senior notes | 2021 Notes
Debt Instrument [Line Items]
Senior notes interest rate		2.80%		2.80%
Percentage of principal amount of debt redeemed		100.00%
Debt instrument, redemption price (percentage)		101.00%
Amount		$ 800,000,000	$ 800,000,000	$ 800,000,000

LONG-TERM DEBT AND OTHER BORR60

LONG-TERM DEBT AND OTHER BORROWINGS - Schedule of Additional Senior Notes Information (Details) $ in Thousands	3 Months Ended
	Sep. 24, 2017USD ($)
2020 Notes
Debt Instrument [Line Items]
Remaining Amortization Period (years)	2 years 5 months 18 days
2021 Notes
Debt Instrument [Line Items]
Remaining Amortization Period (years)	3 years 8 months 20 days
2025 Notes
Debt Instrument [Line Items]
Remaining Amortization Period (years)	7 years 5 months 18 days
Fair Value of Derivative Instruments (Level 2) | 2020 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	$ 507,915
Fair Value of Derivative Instruments (Level 2) | 2021 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	810,384
Fair Value of Derivative Instruments (Level 2) | 2025 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	$ 518,625

LONG-TERM DEBT AND OTHER BORR61

LONG-TERM DEBT AND OTHER BORROWINGS - Schedule of Recognized Interest Cost Relating to Both Contractual Interest Coupon and Amortization of Discount on Liability Component of Notes (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Debt Disclosure [Abstract]
Contractual interest coupon	$ 17,956	$ 34,712
Amortization of interest discount	4,104	5,914
Amortization of issuance costs	485	918
Effect of interest rate contracts, net	(349)	(1,058)
Total interest cost recognized	$ 22,196	$ 40,486

LONG-TERM DEBT AND OTHER BORR62

LONG-TERM DEBT AND OTHER BORROWINGS - Revolving Credit Facility (Details) - Revolving credit facility - USD ($)	Apr. 26, 2016	Oct. 13, 2017	Mar. 05, 2015
Extinguishment of Debt [Line Items]
Revolving unsecured credit facility	$ 750,000,000		$ 300,000,000
Additional increase in the facility	250,000,000
Revolving unsecured credit facility maximum borrowing capacity	$ 1,000,000,000
Scenario, forecast
Extinguishment of Debt [Line Items]
Revolving unsecured credit facility		$ 1,850,000,000
Additional increase in the facility		600,000,000
Subsequent event
Extinguishment of Debt [Line Items]
Revolving unsecured credit facility		1,250,000,000
Additional increase in the facility		$ 500,000,000
Federal Funds Rate
Extinguishment of Debt [Line Items]
Variable interest spread	0.50%
One-month LIBOR
Extinguishment of Debt [Line Items]
Variable interest spread	1.00%
One-month LIBOR | Minimum
Extinguishment of Debt [Line Items]
Variable interest spread	0.00%
One-month LIBOR | Maximum
Extinguishment of Debt [Line Items]
Variable interest spread	0.50%
LIBOR | Minimum
Extinguishment of Debt [Line Items]
Variable interest spread	0.90%
LIBOR | Maximum
Extinguishment of Debt [Line Items]
Variable interest spread	1.50%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 24, 2017	Jun. 25, 2017	[1]
Loss Contingencies [Line Items]
Restricted cash and investments	$ 256,045,000	$ 256,205,000
Letters of Credit
Loss Contingencies [Line Items]
Guarantee obligation maximum exposure	20,600,000
Operating Leases
Loss Contingencies [Line Items]
Operating lease residual value of guarantee, maximum	$ 220,400,000
Maximum percentage of aggregate investment value guaranteed	100.00%
Guarantee obligation maximum exposure	$ 250,000,000
Operating Lease Cash Collateral
Loss Contingencies [Line Items]
Restricted cash and investments	$ 250,000,000
[1]	Derived from audited financial statements

COMMITMENTS AND CONTINGENCIES64

COMMITMENTS AND CONTINGENCIES - Schedule of Changes in Product Warranty Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Changes in Product Warranty Reserve
Balance at beginning of period	$ 161,981	$ 100,321
Warranties issued during the period	48,790	34,855
Settlements made during the period	(44,053)	(32,228)
Changes in liability for pre-existing warranties	1,619	278
Balance at end of period	$ 168,337	$ 103,226

STOCK REPURCHASE PROGRAM - Addi

STOCK REPURCHASE PROGRAM - Additional Information (Details) $ / shares in Units, shares in Thousands	Jun. 30, 2017$ / sharesshares	Apr. 19, 2017USD ($)financial_institutionagreementshares	Sep. 24, 2017USD ($)shares	Nov. 30, 2016USD ($)
Equity [Abstract]
Authorized repurchase of Company common stock (up to)				$ 1,000,000,000
Net shares of settlements to cover tax withholding obligations (in shares) | shares			11
Amount paid for shares under net share settlements			$ 1,800,000
Number of accelerated share repurchase agreements | agreement		2
Number of financial institutions | financial_institution		2
Total repurchase amount		$ 500,000,000
Number of shares repurchased | shares	780	2,570	1,779
Percent of prepayment divided by closing stock price		70.00%
Weighted-average share price | $ / shares	$ 149.16

STOCK REPURCHASE PROGRAM - Repu

STOCK REPURCHASE PROGRAM - Repurchases Under the Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jun. 30, 2017	Apr. 19, 2017	Sep. 24, 2017	Jun. 25, 2017
Equity [Abstract]
Total Number of Shares Repurchased	780	2,570	1,779
Total Cost of Repurchase			$ 157,938
Average Price Paid Per Share (in dollars per share)			$ 158.40
Amount Available Under Repurchase Program (shares)			$ 124,203	$ 282,141

ACCUMULATED OTHER COMPREHENSI67

ACCUMULATED OTHER COMPREHENSIVE LOSS - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 24, 2017	Sep. 25, 2016
Change in Accumulated Other Comprehensive Loss
Beginning balance	[1]	$ 6,817,451
Other comprehensive income (loss) before reclassifications		6,865
Losses (income) reclassified from accumulated other comprehensive income (loss) to net income		2,048
Other comprehensive income, net of tax		8,913	$ 12,333
Ending balance		7,271,178
Accumulated Foreign Currency Translation Adjustment
Change in Accumulated Other Comprehensive Loss
Beginning balance		(42,371)
Other comprehensive income (loss) before reclassifications		7,886
Losses (income) reclassified from accumulated other comprehensive income (loss) to net income		(17)
Other comprehensive income, net of tax		7,869
Ending balance		(34,502)
Accumulated Unrealized Holding Gain (Loss) on Cash flow hedges
Change in Accumulated Other Comprehensive Loss
Beginning balance		(811)
Other comprehensive income (loss) before reclassifications		3,062
Losses (income) reclassified from accumulated other comprehensive income (loss) to net income		2,188
Other comprehensive income, net of tax		5,250
Ending balance		4,439
Accumulated Unrealized Holding Gain (Loss) on Available-For-Sale Investments
Change in Accumulated Other Comprehensive Loss
Beginning balance		1,106
Other comprehensive income (loss) before reclassifications		(1,727)
Losses (income) reclassified from accumulated other comprehensive income (loss) to net income		(123)
Other comprehensive income, net of tax		(1,850)
Ending balance		(744)
Accumulated Unrealized Components of Defined Benefit Plans
Change in Accumulated Other Comprehensive Loss
Beginning balance		(19,624)
Other comprehensive income (loss) before reclassifications		(2,356)
Losses (income) reclassified from accumulated other comprehensive income (loss) to net income		0
Other comprehensive income, net of tax		(2,356)
Ending balance		(21,980)
Total
Change in Accumulated Other Comprehensive Loss
Beginning balance		(61,700)
Ending balance		$ (52,787)
[1]	Derived from audited financial statements

ACCUMULATED OTHER COMPREHENSI68

ACCUMULATED OTHER COMPREHENSIVE LOSS - Components of Accumulated Other Comprehensive Loss (Foot Notes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenue	$ 2,478,140	$ 1,632,419
Cost of goods sold	1,328,797	916,222
Selling, general, and administrative	181,043	165,010
Other income and expense	(5,502)	$ (23,154)
Accumulated Unrealized Holding Gain (Loss) on Cash flow hedges | Reclassified from accumulated other comprehensive income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenue	(3,383)
Cost of goods sold	678
Selling, general, and administrative	537
Other income and expense	$ (20)

BUSINESS COMBINATIONS - Additio

BUSINESS COMBINATIONS - Additional Information (Details) $ in Millions	Aug. 28, 2017USD ($)
Business Combinations [Abstract]
Total purchase consideration	$ 137.6

BUSINESS COMBINATIONS - Schedul

BUSINESS COMBINATIONS - Schedule of Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Aug. 28, 2017	Jun. 25, 2017	[1]
Business Combinations [Abstract]
Intangible assets		$ 48,500
Assets acquired		12,796
Goodwill	$ 1,484,030	97,832	$ 1,385,673
Liabilities assumed		(21,517)
Fair value of net assets acquired		137,611
Cash acquired		$ 8,700
[1]	Derived from audited financial statements

BUSINESS COMBINATIONS - Sched71

BUSINESS COMBINATIONS - Schedule of Identified Intangible Assets Assumed in the Acquisition (Details) $ in Thousands	Aug. 28, 2017USD ($)
Fair Value
Finite-lived intangible assets	$ 48,500
Weighted-Average Estimated Useful Life	6 years
Existing technology
Fair Value
Finite-lived intangible assets	$ 26,200
Weighted-Average Estimated Useful Life	6 years
Customer relationships
Fair Value
Finite-lived intangible assets	$ 15,000
Weighted-Average Estimated Useful Life	6 years
Trade names and other intangible assets
Fair Value
Finite-lived intangible assets	$ 7,300
Weighted-Average Estimated Useful Life	6 years 4 months 25 days