SAN FRANCISCOŚChip 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.
"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."
How is reiterating a forecast for 7 to 9 percent decline cutting the forecast? Seems like they just repeated what they had already said.
In any case, anyone who is following this industry knows that this year is going to pale compared to last year. There are too many macro-economic events to worry about, much less getting the new iPad etc...
Hi Patk0317, could you please elaborate on the macro-economic issues you are referring to? Is it to do with the US specifically, or the wider global economy? The mood lately here in Europe is of optimism (albeit cautious) for this year and next. That said, some are still predicting a collapse of the Euro at the end of 2012 with all what that would entail...
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