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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.

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