Texas Instruments Inc.’s TI, stock slid 4.58% before market open on Wednesday, weighed down by the chip maker’s fourth-quarter outlook. The company reported strong third-quarter results after market close on Tuesday, but forecast weaker-than-expected fourth-quarter earnings and revenue. Texas Instruments expects fourth-quarter earnings between $1.83 and $2.11 a share on revenue of $4.4 billion to $4.8 billion. Analysts surveyed by FactSet had forecast earnings of $2.23 a share on revenue of $4.94 billion. In the fourth-quarter of 2021, the company reported earnings of $2.27 a share on revenue of $4.83 billion in 2021. Texas Instruments is focusing on long-term chip capacity buildout, according to the company’s executives. Over the past 12 months, the company has invested $3.3 billion in research and development and selling, general and administrative expenses and also invested $3.1 billion in capital expenditures, according to the company’s CEO Rich Templeton, The company’s stock ended Tuesday’s session up 0.32%, compared with the S&P 500 Index’s SPX, -0.36% gain of 1.63%.
