The South Korean company is the latest tech giant to suffer declines, as consumer spending slows globally. Read More...
Reuters
Texas Instruments fans fear of chip industry downturn with dour forecast
(Reuters) -Chipmaker Texas Instruments Inc on Tuesday forecast fourth-quarter revenue and profit below estimates as it expects demand across most of its end markets to decline, sending its shares down 5%. After a two-year boom in the chip industry, triggered by tight supply and high demand, a downturn is setting in as personal electronics makers and retailers, who are sitting on bloated inventories due to inflation-hit demand, cut orders for chips. On the earnings call, TI said order cancellations increased during the third quarter.
