Texas Instruments lowers Q4 EPS to $0.21-0.25 from $0.28-0.36, lowers revs guidance to $3.19-3.33 bln consensus, vs. $3.406 bln Capital IQ Consensus Estimates, down from $3.26-3.54 bln prior guidance (29.92 -0.75)
The reductions are due to broadly lower demand across a wide range of markets, customers and products, except for Wireless applications processors.
Altera lowers Q4 revs guidance to down 13-16%, from down 7-11% vs. Capital IQ Consensus Estimates of down 9% (35.48 -0.89)
The revenue outlook has deteriorated across all major vertical markets, including both large and small customers. With the exception of North America, which will benefit from rising military sales, all geographic regions will be weak. As the quarter has progressed, economic uncertainty, macroeconomic concerns, and, in some instances, lower than planned sales have resulted in customers reducing demand on Altera. Consistent with the third quarter, Altera believes it will continue to under ship customer end demand in the fourth quarter.
