Texas Instruments Forecasts First-quarter Revenue Below Expectations

(Reuters) – Chipmaker Texas Instruments forecast first-quarter revenue below Wall Street targets on Tuesday on concerns that a wider economic downturn would shake last year’s resilient demand in its key industrial and automotive markets.

The company expects revenue of $4.17 billion to $4.53 billion, the mid-point of which is lower than analysts’ average estimate of $4.41 billion, according to Refinitiv data.

(Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath)