Texas Instruments’ Forecast Signals Chip Demand Slump Is Spreading
- Company points to ‘expanding weakness’ in industrial market
- Texas Instruments had fared better than semiconductor peers
A Texas Instruments Inc. power controller chip.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Texas Instruments Inc., whose chips go into everything from home appliances to missiles, dropped as much as 6.1% in late trading after its quarterly forecast signaled that the semiconductor industry’s slump is spreading beyond computing and phones.
The company said Tuesday that it expects revenue of $4.4 billion to $4.8 billion in the fourth quarter, short of the $4.93 billion average estimate from analysts. Profit will be $1.83 to $2.11 a share, also missing projections.