Texas Instruments Suffers Worst Rout Since 2020 on Weak Forecast
- Manufacturing costs weigh on chipmaker’s profit projection
- Tepid outlook follows better-than-expected quarterly results
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Texas Instruments Inc. shares declined the most in nearly five years after the chipmaker gave a disappointing earnings forecast for the current period, hurt by still-sluggish demand and higher manufacturing costs.
Profit will be 94 cents to $1.16 a share in the first quarter, the company said in a statement Thursday. The midpoint of that range, $1.05 a share, was well below the $1.17 that analysts projected on average.