Texas Instruments outlook eases fear of a chip downturn

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Texas Instruments outlook eases fear of a chip downturn - Business Mirror

Quick Summary:

Texas Instruments Inc.provided a sales outlook that signals an inventory glut is coming to an end, reassuring investors that a revival is underway in key markets for the company’s chips.

The company’s shares have lagged behind a rally in the Philadelphia Stock Exchange Semiconductor Index this year as investors have poured money into Nvidia Corp.and other companies that make parts for artificial intelligence computing.

Suppliers of electronic parts used in the industrial and automotive markets have seen their growth wiped out by slowing orders from customers who have found themselves stuck with too much inventory.