Texas Instruments (TXN) drops 6.6% AH after using its mid-quarter update to guide for Q4 revenue of $3.19B-$3.33B and EPS of $0.21-$0.25, below prior guidance ranges of $3.26B-$3.54B and $0.28-$0.36. TI blames the shortfall on "lower demand across a wide range of markets," save for wireless application processors Between TI and Altera's (ALTR) warnings (previously), chip stocks are likely to see weakness tomorrow.
Technical side stock has some resistance area is $28 and support level is $30.
Technical side stock has some resistance area is $28 and support level is $30.
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