Chipmaker TI forecasts earnings below estimates as automotive demand sputters
TI's projection fans concerns the automotive chip industry may also face a downturn after managing to remain on the sidelines of the supply glut crisis faced by other markets. Peer Mobileye also forecast preliminary 2024 revenue below estimates, with a pullback in orders from its customers clearing excess inventory. Summit Insights analyst Kinngai Chan pinned supply chain corrections in the automotive segment to weaker demand for electric vehicles and the United Auto Workers strikes at major automakers.
Source: yahoo.com
