Texas Instruments Cuts Sales, Profit Forecasts
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Texas Instruments Inc., the world’s largest maker of analog semiconductors, reduced its first-quarter sales and profit forecasts, citing lower demand for products that let wireless devices connect and run applications.
Revenue will be $2.99 billion to $3.11 billion, the Dallas-based company said today in a statement. Analysts on average had estimated $3.16 billion, according to data compiled by Bloomberg. Net income will be 15 cents to 19 cents a share, Texas Instruments said, compared with projections of 21 cents.