Texas Instruments, Stock Plunges and Weak Profit Outlook
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Texas Instruments' long-term prospects remain steady, but short-term valuation concerns could justify selling for some investors. Learn more on TXN stock here.
Shares of analog chip manufacturer Texas Instruments (NASDAQ:TXN) fell 12.3% in the afternoon session after it issued a weaker-than-expected forecast for the third quarter, sparking concerns about future demand for its chips.
Texas Instruments' quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analog chips from some customers and underscored tariff-related uncertainty.
Texas Instruments shares are trading lower on Wednesday following the release of second quarter earnings and third quarter guidance on Tuesday after the market closed.
DBS analyst Ling Lee Keng has maintained their neutral stance on TXN stock, giving a Hold rating today.Invest with Confidence: Follow TipRanks'...
Despite this, we continue to like NVIDIA Corp. and think that Texas Instruments is also worth tracking. Despite concerns about a possible recession, 2024 turned out better than expected.