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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: 100cfm who wrote (50831)	3/7/2006 6:01:58 AM
From: 100cfm	Read Replies (1) \| Respond to of 197030

Texas Instruments Shares Fall After First-Quarter Forecast March 7 (Bloomberg) -- Shares of Texas Instruments Inc., the world's biggest maker of mobile-phone chips, fell after the company said first-quarter sales won't reach its highest forecast. Texas Instruments shares fell as much as $1.24 cents, or 3.8 percent, to the equivalent of $31.09 in Germany from the close of $32.33 in New York Stock Exchange composite trading yesterday. The stock traded at $31.14 as of 9:47 a.m. in Frankfurt. Before today the stock had gained almost 9 percent in six days. Revenue will be $3.22 billion to $3.35 billion, compared with a Jan. 23 forecast of as much as $3.38 billion, Texas Instruments said late yesterday. Some investors anticipated a more optimistic outlook because of management comments and recent market share gains by Nokia Oyj, the No. 1 handset maker and Texas Instruments' top customer. The midpoint of the new sales forecast, $3.29 billion, exceeds the $3.27 billion average estimate of analysts. ``There were high expectations going into the update,'' said Robert Dean, a San Mateo, California-based portfolio manager for Franklin Aggressive Growth Fund, which owns shares of rival Qualcomm Inc. ``I think the report was fine.'' Profit at the Dallas-based company will be 31 cents to 33 cents a share, compared with the 29 cents to 33 cents forecast on Jan. 23. Analysts predicted 32 cents, the average of 36 estimates in a Thomson Financial survey, on sales of $3.27 billion. In last year's first quarter, Texas Instruments had net income of $411 million, or 24 cents, on sales of $2.97 billion, which included a testing and sensors unit that's being sold. The announcement indicates sales will fall about $30 million short of the Texas Instruments' highest forecast. The report followed last week's announcement from Intel, the world's largest computer-chipmaker, that first quarter revenue may miss January forecasts by as much as $1 billion. Going Well In the past month, Texas Instruments executives have indicated the quarter is going well. Chief Executive Officer Rich Templeton, 47, said the company is winning market share in chips for the newest mobile phones, and Chief Financial Officer Kevin March said last week inventory is low. Worldwide shipments of more advanced phones, called third- generation or 3G, should double this year, Ron Slaymaker, vice president of investor relations, reiterated today on a conference call. ``Nothing we've seen this year would lead us to take a dimmer view of that,'' Slaymaker told analysts. ``The customer base as well as the service operators seem to be pretty optimistic about the deployment of 3G this year.''