Texas Instruments' upbeat Q2 forecast pushes chip stocks higher

Reuters04-24

April 24 (Reuters) - Texas Instruments jumped 7% in premarket trade on Wednesday, sparking a rally in chip stocks as its strong second-quarter revenue forecast fanned optimism that chip demand was picking up after a years-long slump.

The company is seen as a bellwether for semiconductor demand, as its products are used across industries ranging from automotive to industrial and consumer electronics including smartphones.

Shares of Nvidia , Advanced Micro Devices , Arm Holdings and Micron Technology rose between 1% and 3%.

Texas Instruments said on Tuesday it expects revenue with a midpoint of $3.8 billion for the second quarter, compared with LSEG estimates of $3.77 billion.

Its earnings are closely watched as it is the first among major U.S. semiconductor firms to report quarterly results.

"Looking ahead, we anticipate Texas Instruments to drive a continued recovery profile into the 2H (second half) of the year and into 2025" said J.P. Morgan analysts in a note.

Improving demand for consumer electronics also indicates that analog chip inventory corrections might be easing.

The company had seen a slump in demand for chips used in automotive markets as demand for electric vehicles slowed owing to an uncertain economy and availability of cheaper hybrid alternatives.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Varun H K)

((Zaheer.Kachwala@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2429723435?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-24 18:38","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2429723435","market":"us","top_or_hot":-1,"title":"Texas Instruments' upbeat Q2 forecast pushes chip stocks higher","media":"Reuters","content":"<html><body><p>April 24 (Reuters) - Texas Instruments    jumped 7% in premarket trade on Wednesday, sparking a rally in chip stocks as its strong second-quarter revenue forecast fanned optimism that chip demand was picking up after a years-long slump.</p><p>   The company is seen as a bellwether for semiconductor demand, as its products are used across industries ranging from automotive to industrial and consumer electronics including smartphones.</p><p>   Shares of Nvidia   , Advanced Micro Devices   , Arm Holdings    and Micron Technology    rose between 1% and 3%.</p><p>   Texas Instruments said on Tuesday it expects revenue with a midpoint of $3.8 billion for the second quarter, compared with LSEG estimates of $3.77 billion.</p><p>   Its earnings are closely watched as it is the first among major U.S. semiconductor firms to report quarterly results.</p><p>   \"Looking ahead, we anticipate Texas Instruments to drive a continued recovery profile into the 2H (second half) of the year and into 2025\" said J.P. Morgan analysts in a note.</p><p>   Improving demand for consumer electronics also indicates that analog chip inventory corrections might be easing.</p><p>   The company had seen a slump in demand for chips used in automotive markets as demand for electric vehicles slowed owing to an uncertain economy and availability of cheaper hybrid alternatives.</p><p> (Reporting by Zaheer Kachwala in Bengaluru; Editing by Varun H K)</p><p>((Zaheer.Kachwala@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Texas Instruments' upbeat Q2 forecast pushes chip stocks higher</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTexas Instruments' upbeat Q2 forecast pushes chip stocks higher\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-24 18:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>April 24 (Reuters) - Texas Instruments    jumped 7% in premarket trade on Wednesday, sparking a rally in chip stocks as its strong second-quarter revenue forecast fanned optimism that chip demand was ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0072462426.USD","symbol_name":"贝莱德全球配置 A2","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2429723435","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429723435","pubTimestamp":1713955091,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"April 24  - Texas Instruments    jumped 7% in premarket trade on Wednesday, sparking a rally in chip stocks as its strong second-quarter revenue forecast fanned optimism that chip demand was picking up after a years-long slump.   The company is seen as a bellwether for semiconductor demand, as its products are used across industries ranging from automotive to industrial and consumer electronics including smartphones.   Shares of Nvidia   , Advanced Micro Devices   , Arm Holdings    and Micron Technology    rose between 1% and 3%.   Texas Instruments said on Tuesday it expects revenue with a midpoint of $3.8 billion for the second quarter, compared with LSEG estimates of $3.77 billion.   Its earnings are closely watched as it is the first among major U.S. semiconductor firms to report quarterly results.   \"Looking ahead, we anticipate Texas Instruments to drive a continued recovery profile into the 2H  of the year and into 2025\" said J.P. Morgan analysts in a note.   Improving demand fo","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0072462426.USD":"贝莱德全球配置 A2","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","BK4575":"芯片概念","BK4566":"资本集团","TXN":"德州仪器","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0557290698.USD":"施罗德环球可持续增长基金","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","LU0238689110.USD":"贝莱德环球动力股票基金","LU1046421795.USD":"富达环球科技A-ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0056508442.USD":"贝莱德世界科技基金A2","BK4550":"红杉资本持仓","BK4141":"半导体产品","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU0080751232.USD":"富达环球多元动力基金A","NVDA":"英伟达","BK4551":"寇图资本持仓","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","MU":"美光科技","LU0109392836.USD":"富兰克林科技股A","BK4561":"索罗斯持仓","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU0444971666.USD":"天利全球科技基金","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4512":"苹果概念","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","BK4529":"IDC概念","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","AMD":"美国超微公司","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)"},"translate_title":"德州仪器乐观的Q2预测推高芯片股","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TXN":1,"AMD":0.9,"MU":0.9,"NVDA":0.9},"content_text":"April 24 (Reuters) - Texas Instruments    jumped 7% in premarket trade on Wednesday, sparking a rally in chip stocks as its strong second-quarter revenue forecast fanned optimism that chip demand was picking up after a years-long slump.   The company is seen as a bellwether for semiconductor demand, as its products are used across industries ranging from automotive to industrial and consumer electronics including smartphones.   Shares of Nvidia   , Advanced Micro Devices   , Arm Holdings    and Micron Technology    rose between 1% and 3%.   Texas Instruments said on Tuesday it expects revenue with a midpoint of $3.8 billion for the second quarter, compared with LSEG estimates of $3.77 billion.   Its earnings are closely watched as it is the first among major U.S. semiconductor firms to report quarterly results.   \"Looking ahead, we anticipate Texas Instruments to drive a continued recovery profile into the 2H (second half) of the year and into 2025\" said J.P. Morgan analysts in a note.   Improving demand for consumer electronics also indicates that analog chip inventory corrections might be easing.   The company had seen a slump in demand for chips used in automotive markets as demand for electric vehicles slowed owing to an uncertain economy and availability of cheaper hybrid alternatives. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Varun H K)((Zaheer.Kachwala@thomsonreuters.com;))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429723435"}