TI boosts EPS, rev target but shares fall

Chip maker Texas Instruments Inc (TXN.N) raised its current-quarter profit forecast and said revenue would reach the high end of its target, disappointing some investors who had hoped for a stronger outlook on signs of improving demand in the wider chip market.

Shares of TI fell 2 pct after its mid-quarter update, following a 12 percent rally since late October on high hopes that chip sales would recover more quickly as the economy improves.

But TI, which makes chips for everything from cars to computers, said demand was increasing so quickly, particularly for analog chips, that it was having a hard time keeping up.

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- Posted: 2009-12-08 20:06:38

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