Texas Instruments reports better-than-expected Q2 profits due to stabilizing demand for analog chips and lower manufacturing costs.
Texas Instruments (TXN) reported better-than-expected Q2 profits, driven by stabilizing demand for analog chips from sectors like personal electronics and lower manufacturing costs. This increase in demand comes as a result of a rebound in smartphone and personal computer sales, which have helped clear the inventory glut brought about by stockpiling during the pandemic. Texas Instruments' shares were up 3% in extended trading, contributing to a 16% year-to-date gain.
July 23, 2024
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