Texas Instruments Gives In-Line Forecast, Stock DropsBy
Demands to speed up all orders has receded, company says
Chip buyers have become more selective in hurry up requests
Texas Instruments Inc. gave a forecast in line with analysts’ estimates for the current period, disappointing investors who are concerned that a surge in demand for electronic components is beginning to slow.
Sales will be $4.22 billion to $4.58 billion in the fourth quarter, Texas Instruments said Tuesday in a statement. Profit will be $1.83 to $2.07 a share. On average, analysts predicted profit of $1.94 a share and sales of $4.48 billion, according to data compiled by Bloomberg. The stock dropped as much as 5.3% in extended trading.