Posted September 11, 2018 12:03:10 The Texas Instruments (TI) stock plunged to a record low Wednesday after a report from a private analyst that the company’s chip manufacturing business may have been compromised.
The stock has lost more than 5% this year and fell to its lowest level since the year 2000.
Texas Instruments is the fourth-largest U.S. chip maker, with revenues of $21.8 billion.
TI’s stock is down nearly 6% this month.
“I think this is an unfortunate moment,” said Richard Anderson, an analyst with RBC Capital Markets.
“TI is not a company that has been on the upswing in the past decade.
The company’s share price has dropped to new lows, and I think this gives the market pause.
We can’t afford to have this kind of a stock going up and down at such a rate,” he added. “
It’s an unfortunate situation.
We can’t afford to have this kind of a stock going up and down at such a rate,” he added.
The analyst’s comments come a day after Texas Instruments announced that it was going public on the New York Stock Exchange.
The shares fell 7% after news broke of the news.
The New York stock market had dropped to its highest level since 1997, and the market was trading below $16 a share on Wednesday.
Investors were hoping that the announcement of the IPO would help TI raise more capital and allow the company to build out its semiconductor business.
The news comes a day before TI is scheduled to report its fourth-quarter earnings, which will include its fourth quarter revenue.
In a statement to Reuters, the company said the stock fell to $17.96 on Wednesday, down from $23.36 on Tuesday.
“We have experienced a series of significant changes over the past two years that have impacted our operations and negatively impacted our results,” the company wrote.
“These changes have included a significant change in our strategy and the implementation of a restructuring program, which we believe has significantly impacted our business.
We believe this restructuring program is effective and is designed to address these factors.”
TI’s shares have lost more over the last five years than the S&P 500.
The chipmaker has lost about $20 billion this year.
In September, the stock was trading at $17, down $2.5.
Texas and its competitors, including ARM and Intel, are expected to announce their first earnings on Wednesday and have not commented publicly on the chipmaker.
The semiconductor industry has been in turmoil since Intel shut down production of its Xeon chip last year.
The loss of the chip industry could make it difficult for the U.A.E. to meet its ambitious goals of making more than 70% of its electricity from renewable sources by 2030.
A new study by the U of A and other universities found that solar power is cheaper than wind power and that the UAA would need to rely on natural gas for power.
The report also found that China’s rapid growth in the solar industry would likely lead to a shortage of thermal power, which would lead to lower power prices in Texas.