Texas Instruments Gains the Most Since 2020 on Upbeat Forecast
- Quarterly report raises hopes that industry slump is easing
- Company serves as bellwether for broader chip economy
An integrated circuit microchip manufactured by Texas Instruments.
Photographer: Chris Ratcliffe/BloombergTexas Instruments Inc. shares jumped as much as 8.5% on Wednesday, the biggest intraday gain in more than four years, after the chipmaker’s revenue forecast indicated that a slump in demand may be easing.
Sales in the current period will be as much as $3.95 billion, the company said in a statement Tuesday. Analysts had estimated $3.78 billion, according to data compiled by Bloomberg. Profit will be $1.05 to $1.25 a share, versus a prediction of $1.17.