Bad Memories For Texas Instruments
A case of jitters: Wall Street drove up shares in Texas Instruments 14% in early June to 56 on rumors the company may exit the money-losing memory-chip market. Overcapacity has savaged the business for more than two years, costing TI $244 million in the first quarter alone to quit a memory-chip venture. But the rise halted June 10 as IBM announced it would start selling a chip that mimics TI's hot-selling devices for wireless phones, knocking shares down 6%, to close at 52 1/2.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.