Mr. Market body-slammed Texas Instruments
As you might imagine, it's more cell-phone shenanigans. Ericsson
All of that is happening on the infrastructure side of the equation. On the handset end, management said that Nokia, Sony Ericsson, and Motorola
Of course, TI can hardly be blamed for its customers' ordering decisions. What the company can control is operational efficiency, where gross and operating margins both continue to expand. That's the asset-light manufacturing strategy helping out with the gross take again, as well as lightening the capital-expense load compared with last year and thus inflating free cash flow.
Tonight's earnings report from rival handset chip maker STMicroelectronics
Until then, this week's price drop and earnings growth adds up to the lowest P/E ratio we've seen since early this year. The relative valuation looks cheap next to Qualcomm, Analog Devices
It looks like we have a generous discount to TI's market position and earnings power, and I don't think there's anything fundamentally wrong with the Dallas giant. You know what it means, Fool: Do your homework, and see whether TI's for you.
Fool contributor Anders Bylund holds no position in any of the companies discussed here, but he still uses his TI-60 calculator from his high school days. You can check out Anders' holdings if you like, and Foolish disclosure always adds up.