SAN FRANCISCO—Chip vendors Texas Instruments Inc. and Altera Corp. Thursday (March 8) cut their first quarter sales targets, citing slower demand among wireless customers.
TI (Dallas) said it expects sales to be between $2.99 billion and $3.11 billion, down from an early forecasted range of between $3.02 billion and $3.28 billion. The company also reduced its earnings-per-share forecast for the quarter, blaming lower demand for wireless products.
Altera (San Jose, Calif.) said it now expects revenue for the quarter to be between $415.6 million and $425.8 million, a sequential decline of 7 to 9 percent. The company has earlier forecast that sales would decline by 7 to 9 percent sequentially.
Altera said has experienced more pronounced and broader inventory adjustments related to the wireless market. The company said it continues to expect that second quarter sales will be up compared to the first quarter.