Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

J.P. Morgan Downgrades Texas Instruments to Underweight

J.P. Morgan downgraded Texas Instruments (TXN) to underweight from neutral, and reiterated its underweight rating on R.F. Micro Devices (RFMD) and Triquint Semiconductor (TQNT).

Analyst Christopher Danely says Nokia negatively pre-announced, due to lower-than-expected handset sales. He says Nokia is the largest customer for Texas Instruments and R.F. Micro Devices, and represents about 40% to 45% of R.F. Micro's revenue, and 15% of Texas Instruments' revenue. Additionally, Nokia represents 8% to 10% of Triquint's revenue.

Danely says he downgraded TI due to the risk to his estimates, high valuation, high lead times coming in, and the chipmaker's high commodity exposure. He reiterated his underweight ratings on R.F. Micro and Triquint as Nokia's pre-announcement creates risk to his second-quarter estimates.

blog comments powered by Disqus