Chipmakers Are Sending a Warning About the Economy
Prices are falling and orders are slowing at semiconductor companies like Texas Instruments. It’s time to stop blaming the supply chain.
Worrying indicators.
Photographer: Chris Ratcliffe/Bloomberg
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It’s transitory. That seems to be the message investors are sending as they push market indexes to new highs daily right after several technology companies warned supply-chain bottlenecks, labor shortages and delivery problems would crimp their holiday results.
But investors might be missing something. Disappointing results from three key chip companies could mean cracks are forming around the bull narrative. And they may turn out to be the warning signs this upturn is nearing its end.