has released a confident update to its fourth-quarter guidance, providing further evidence of the
The large chipmaker, which
, released its mid-quarter update after market close on Tuesday. The component specialist now expects fourth-quarter revenue to hit between $2.9 billion and $3.02 billion, compared to its prior range of $2.78 billion and $3.02 billion.
Texas Instruments also expects earnings between 47 cents and 51 cents a share when it reports in January, up from its previous estimate of 42 cents to 50 cents a share.
The forecast sits at the high end of Wall Street's guidance. Analysts surveyed by Thomson Reuters, for example, expect the silicon specialist to post revenue of $2.93 billion and earn 47 cents a share.
Texas Instruments' numbers are not exactly out of the blue. It
Wall Street's third-quarter estimates despite lower profit, boosted by sales of its analog products.
, which also reported good third-quarter
, Texas Instruments is a key
for the tech sector, providing core components for cellphones and other electronic devices.
Shares of Texas Instruments dipped 74 cents, or 2.81%, to $26.41 in extended trading.
-- Reported by James Rogers in New York