Texas Instruments Sharply Raises 2Q Guidance

Texas Instruments Inc. (TXN) sharply raised its second-quarter guidance Monday as customers slowed the rate at which they are reducing chip inventories, the latest sign that the market for semiconductors may be stabilizing.

The mid-quarter update sent shares of the Dallas maker of analog and wireless semiconductors up after hours, and builds on optimistic comments made recently by others in the sector, including wireless leader Qualcomm Inc. (QCOM) and Analog Devices Inc. (ADI).

It also adds weight to comments from Intel Corp. (INTC) that the first quarter represented a "bottom" in the PC market.

Read Full Article from Wall Street Journal

- Posted: 2009-06-09 07:30:08

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