Texas Instruments
Was it Really All That Bad?

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By throgsnk
October 23, 2002

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Watching the market's reaction, along with CNBC and Bloomberg television, sounding like TXN announced that it was going out of business -- I had to read exactly what TXN said. Looks to me like TXN made a profit this quarter but guided lower next quarter. What am I missing?

In case CNBC and Bloomberg didn't notice, we're in a recession and tech is experiencing the brunt of lack of capital spending. Does that mean that wireless demand will NEVER RETURN? That's certainly the impression one gets from hearing the television media "analyze" the quarterly report.

Bloomberg interviewed the CEO of National Semiconductor this morning. That CEO said that TXN and National Semi were in the sweet-spot of the chip sector - analog. The commentator repeatedly contradicted this CEO when he suggested that the chip sector will recover, sooner rather than later. When the CEO commented that the TV financial media "fans the flames of corporate governance"; the commentator appeared aghast at such a statement.

Is it the function of the media to report the news objectively or to spin it to fit the script? IMO CNBC and Bloomberg do the latter without any regard to the former.

Fool Take - TXN

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