EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share are computed using the weighted average number of shares of common stock outstanding during the period. For purposes of computing basic earnings (loss) per share, the weighted average number of outstanding shares of common stock excludes unvested RSUs and other awards as well as MSUs. Diluted earnings (loss) per share incorporates the incremental shares issuable upon the assumed exercise of stock options, assumed release of unvested RSUs and other awards as well as MSUs, and assumed issuance of common stock under the 2008 ESPP using the treasury stock method.

The following table sets forth the computation of basic and diluted earnings (loss) per share:



	Three Months Ended					Six Months Ended
	December 29, 2018		December 30, 2017			December 29, 2018		December 30, 2017
	(in thousands, except per share data)
Numerator for basic earnings (loss) per share and diluted earnings (loss) per share
Net income (loss)	$	131,892	$	(75,015	)	$	329,315	$	79,519

Denominator for basic earnings (loss) per share	276,252		281,560			277,144		281,852
Effect of dilutive securities:
Stock options, ESPP, RSUs, and MSUs	3,756		—			4,270		4,503
Denominator for diluted earnings (loss) per share	280,008		281,560			281,414		286,355

Earnings (loss) per share
Basic	$	0.48	$	(0.27	)	$	1.19	$	0.28
Diluted	$	0.47	$	(0.27	)	$	1.17	$	0.28

For the three months ended December 30, 2017 and December 29, 2018, there were approximately 4.8 million and zero stock awards, respectively, that were determined to be anti-dilutive and therefore excluded from the calculation of diluted earnings per share. For the six months ended December 29, 2018 and December 30, 2017, no stock awards were determined to be anti-dilutive and therefore none were excluded from the calculation of diluted earnings per share.