Item 1A. RISK FACTORS

There have been no material changes from the risk factors disclosed in

Part 1, Item 1A, of our Annual Report on

Form 10-K for the year ended December 25, 2021.

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES

AND USE OF PROCEEDS

Purchases of equity securities by the issuer

Our share repurchase program announced on March 3, 2003

, originally allowed us to repurchase up to two million

shares pre-stock splits (eight million shares post-stock splits) of our common

stock, which represented

approximately 2.3% of the shares outstanding at the commencement of

the program.

Subsequent additional

increases totaling $4.1 billion, authorized by our Board of Directors,

to the repurchase program provide for a total

of $4.2 billion of shares of our common stock to be repurchased under this

program.

As of June 25, 2022, we had repurchased approximately $4.1 billion

of common stock (82,414,390 shares) under

these initiatives, with $90 million available for future common stock

share repurchases.

The following table summarizes repurchases of our common stock

under our stock repurchase program during the

fiscal quarter ended June 25, 2022.

Total Number

Maximum Number

Total

of Shares

of Shares

Number

Average

Purchased as Part

that May Yet

of Shares

Price Paid

of Our Publicly

Be Purchased Under

Fiscal Month

Purchased (1)

Per Share

Announced Program

Our Program (2)

3/27/2022 through 4/23/2022

-

$

-

-

2,291,215

4/24/2022 through 5/28/2022

613,265

84.12

613,265

1,726,511

5/29/2022 through 6/25/2022

732,132

79.16

732,132

1,170,369

1,345,397

1,345,397

(1)

All repurchases were executed in the open market under our existing publicly announced authorized program.

(2)

The maximum number of shares that may yet be purchased under this program is determined at the end of each month based on the

closing price of our common stock at that time.

This table excludes shares withheld from employees to satisfy minimum tax withholding

requirements for equity-based transactions.