Texas Instruments Rallies After Chip Rebound Gains Momentum
The Texas Instruments semiconductor wafer plant in Sherman, Texas.
Photographer: Desiree Rios/BloombergTexas Instruments Inc. soared after giving a surprisingly robust forecast for the first quarter, indicating that demand for industrial equipment and vehicles is recovering from a rough patch.
Revenue will be $4.32 billion to $4.68 billion in the first quarter, the company said in a statement Tuesday. The midpoint of that range exceeded the average estimate of $4.42 billion. Profit in the period will be as much as $1.48 a share, compared with a projection of $1.26.