Texas Instruments fans fear of chip industry downturn with dour forecast

Chipmaker Texas Instruments Inc on Tuesday forecast fourth-quarter revenue and profit below estimates as it expects demand across most of its end markets to decline, sending its shares down 5%.

After a two-year boom in the chip industry, triggered by tight supply and high demand, a downturn is setting in as personal electronics makers and retailers, who are sitting on bloated inventories due to inflation-hit demand, cut orders for chips.