Sometimes "less bad" passes for better on Wall Street, and such may be the case for Texas Instruments (NYSE:TXN). Although the company's second quarter results and third quarter guidance don't suggest a rampant recovery in the chip sector, it does seem that business has stabilized. Even still, investors would likely do well to remain suspicious and cautious.
A Second Quarter More or Less As Expected
The results that Texas Instruments reported late Monday seemed more or less consistent with the company's earlier guidance. Revenue fell 1% from the year-ago period, but rose 2% on a sequential basis. Growth was boosted by strong results in embedded chips, held back by wireless, and analog was more or less in line with the company averages.
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