MarketWatch First Take: Texas Instruments says semiconductor demand is slowing, sending ripples of fear across the sector

The semiconductor industry has been struggling on Wall Street amid signs that a slowdown was coming. On Tuesday afternoon, doubters seemed to receive confirmation.

Texas Instruments Inc. TXN, +0.53%TXN, +0.53% said it is seeing a slowdown in demand, its first since 2015, in a third-quarter earnings report after the bell. Chief Executive Rich Templeton, in his first comment in the announcement, proclaimed, “demand for our products slowed across most markets.”

TI execs did not believe it was just a problem in the third quarter, as the company’s guidance was lower than expected, and executives were plain in the conference call Tuesday afternoon about signs of a slowdown in semiconductor demand.

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