Shares of Texas Instruments Inc. fell in after-hours trading Tuesday after the company reported disappointing September-quarter results and projecting more challenges in the current quarter. “And when the ones at the very front pull back, it becomes a traffic jam.” TI shares, which have been trading near record levels, fell 10% to $115.99 in after-hours trading. Other chip makers, including Nvidia Corp. , Micron Technology Inc., Intel Corp. and Advanced Micro Devices Inc., also fell in after-hours trading. Founded in 1930 as an oil-and-gas company, Texas Instruments took its current name in the 1950s as it shifted into the burgeoning semiconductor business. TI’s third-quarter profit fell 9% to $1.43 billion, or $1.49 a share, at the high-end of the company’s forecast and ahead of the consensus estimate.

Source: Wall Street Journal October 22, 2019 23:26 UTC