GARDEN GROVE, Calif.—Texas Instruments Inc.'s third quarter sales report and fourth quarter revenue target both disappointed Wall Street Monday (Oct. 22), with company executives citing a sluggish economy and weak end-product demand.
TI's sales for the third quarter came in at the upper half of the company's targeted range, but fell well short of consensus analysts' expectations. The company forecast a sequential sales decline of around 13 percent for the fourth quarter.
"We expected revenue and demand to be weak, and they were," said Ron Slaymaker, TI's vice president of investor relations. "Similarly, our expectation is that this market weakness will carry forward into the fourth quarter as customers respond to the sluggish macro environment and to poor demand for their products."
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TI is the latest in a string of chip companies to blame weaker than expected sales on a difficult macroeconomic environment and weak end demand. Rivals including Intel Corp., Advanced Micro Devices Inc. and Marvell Technology Group Ltd. have all reported sales below their initial quarterly targets as consumer demand for PCs and other products has declined in recent months amid a difficult economy.
"Our market has weakened, and we expect it will remain so in the fourth quarter as the overall world economy continues to be soft," said Kevin Marche, TI's chief financial officer.
I am trying to imagine, when a group of fat investors meet, they might be some 2nd generation with rich dad/mom who has passed away for a while. they just want to preserve the fortune they inherited by investing in sth like TI.
they would prefer a lower IQ salesman over uh.. maybe a radical sth....
and its fate sealed.
Templeton joined the company in 1980 after earning a bachelor’s of science degree in electrical engineering from Union College in New York. He spent his operational career in the company's Semiconductor business, beginning in sales and eventually becoming president of the entire business.
He topped the list of Institutional Investor's Best Semiconductor CEOs in America for three consecutive years from 2007 through 2009.
*** same piece of .. as intel s malony, inventor of ultrabook, lol.
and investers love him, and enjoy it then...
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