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Texas Instruments’ Rosy Forecast Counters Fears of Slowdown

  • End of lockdowns in China boosted orders at end of quarter
  • Personal electronics demand was weaker, chipmaker says
Employees program Texas Instruments Inc. calculators in Lipa, the Philippines.

Employees program Texas Instruments Inc. calculators in Lipa, the Philippines.

Photographer: Hannah Reyes Morales/Bloomberg
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Texas Instruments Inc., the maker of chips used in everything from washing machines to satellites, gave a bullish forecast for the current period, countering concern that a slowing economy is hurting demand for electronics.

Third-quarter revenue will be $4.9 billion to $5.3 billion, Texas Instruments said in a statement Tuesday. That compares with the $4.94 billion average estimate from analysts. Profit will be as much as $2.51 a share, the company said, ahead of projections.