Texas Instruments' Forecast Points to Ebbing Tech Spending Binge
- Chipmaker’s guidance is indicator of demand across the economy
- Fourth-quarter revenue, profit forecasts miss some estimates
This article is for subscribers only.
Texas Instruments Inc., whose chips are in most electronic devices, gave investors the first solid piece of evidence that a multiyear technology spending binge may be ending.
The company said late Tuesday that demand is slowing across most of its markets and predicted its biggest sequential decline in revenue since 2012. That led analysts to conclude the trade war between the U.S. and China is beginning to bite.