Texas Instruments lowers outlook

Associated Press

DALLAS (AP) — Chipmaker Texas Instruments Inc. lowered its first-quarter guidance on Thursday, citing weakened demand for wireless products.

The company expects to earn 15 cents to 19 cents per share on revenue of $2.99 billion to $3.11 billion. That's down from its forecast in January for earnings of 16 cents to 24 cents per share and revenue of $3.02 billion to $3.28 billion.

Semiconductor chips made by Texas Instruments, based in Dallas and one of the world's biggest chipmakers, are used in communications infrastructure and automotive electronics and a wide range of other devices.

Texas Instruments shares fell 5 cents Thursday to close at $32.60 and lost another 21 cents after hours, falling to $32.39.