October 24, 2024 /SemiMedia/ — Texas Instruments recently stated that as customers work through excess inventory, now is a favorable time for order recovery. CEO Haviv Ilan noted that after eight consecutive quarters of declining revenue, the company's main markets have started to rebound, though the industrial and automotive chip sectors remain affected by inventory overhang.

The company's largest revenue drivers are industrial equipment and automotive manufacturers, which together account for over 70% of its sales. "We certainly need broad participation from the industrial and automotive markets," Ilan emphasized. However, when asked about a market rebound, he said, "It's time, but we haven't seen it yet."

The company expects fourth-quarter sales to reach between $3.7 billion and $4 billion. Additionally, Texas Instruments is heavily investing in new factories as part of its strategy to bring more production in-house. While this has impacted short-term profits, the company said that once completed, the move will provide a cost advantage over competitors.