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Chipmaker Texas Instruments<\/a> 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<\/a> said order cancellations increased during the third quarter. Chip makers Advanced Micro Devices<\/a> and Micron Technology<\/a> have also warned of worsening demand.
\"During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial,\" TI Chief Executive Rich Templeton said.
While TI called the automotive sector an exception to this trend, Summit Insights Group<\/a> analyst Kinngai Chan noted that many automakers continue to order double the chips they need and expects the demand to slip to pre-pandemic levels in the first half of next year.
Shares of the Dallas, Texas-based company fell to $154 in extended trading. They have declined about 14% so far this year, mirroring decline in shares of its peers as investors brace for the chip industry boom to normalize.
The company forecast fourth-quarter revenue between $4.40 billion and $4.80 billion, compared with estimates of $4.93 billion, per Refinitiv data.
It forecast profit between $1.83 and $2.11, below estimates of $2.21.
TI said it does not expect a \"meaningful\" or \"significant\" impact to its revenue from U.S.<\/a> restrictions on exports to China, where it makes 25% of its revenue from.
In the third quarter, the company reported a 13% rise in revenue to $5.24 billion on strong demand for its semiconductors from the auto sector. Analysts had expected $5.14 billion.
Excluding items, the company earned $2.45 per share, beating estimates of $2.39.
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芯片制造商德州仪器公司. n:行情)周二预测第四季度收入和利润低于预期,预计在其终端市场需求下降,将其股价下跌5%。
经过两年的芯片行业的繁荣,导致供应紧张和高需求,经济衰退将在个人电子产品制造商和零售商,他们坐在庞大的库存由于通胀达到需求,降低芯片的订单。
在财报电话会议,“透明国际”说订单取消第三季度增长。芯片制造商高级微设备和美光科技还警告称,不断恶化的需求。
“在我们经验丰富的预期疲软的季度个人电子产品在工业和扩大的弱点,“TI首席执行官富邓普顿说。
而TI汽车行业一个例外的趋势,峰会见解集团分析师Kinngai Chan指出,许多汽车制造商继续订购芯片他们需要增加一倍,未予注意预计需求将降至明年上半年的水平。
股票的达拉斯德克萨斯州公司在盘后交易中跌至154美元。他们今年迄今已下降约14%,镜像同行的股价下滑,因投资者做好规范化的芯片产业的繁荣。
该公司预计第四季营收在44亿美元和48亿美元之间,相比之下,估计为49.3亿美元,每Refinitiv数据。
预测利润1.83美元至2.11美元,低于预估的2.21美元。
TI表示,不希望“有意义的”或“重大”对收入的影响美国限制对中国的出口,使其收入的25%。
在第三季度,该公司收入上升了13%,52.4亿美元的汽车业半导体的强劲需求。分析师预期的51.4亿美元。
扣除特殊项目,公司每股亏损2.45美元,超出预期的2.39美元。
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