Kim Bolton
Texas Instruments
TXN-Q
PAST TOP PICK
Jan 17, 2023
(A Top Pick Feb 02/22, Down 2%) Compared to other tech, this is a winner. It's boring--analog products to manage power in electronics, and embedded processing which are used in cars, fridges and other electronics. They make semis in these boring segments, so it's done well. They will build a new plant in Texas in 2025 and will be the king of these processors. It's now fairly valued now.
They deliver poor conference calls stressing things like too much inventory and not enough demand gives analysts little to work with. They trash their own company. Shares sell after these calls only to rebound.
He's frustrated with it, up only 2% year to date, and he's slightly under water it. This ranks 28th of his 31 tech holdings. The company moves slowly and far less nimble than its peers who are doing much better. It was downgraded today.
Liked it until summer of 2023. Shine came off the EV ecosystem. January reporting beat on bottom, bit shy on top. Lowered guidance, and this really hurt. Not in the AI space.
Fell 7.5% today on earnings. Has long loved this. They make good car and industrial chips, but those are down in the dumps. They beat top and bottom, but their end markets are weak. They should go private.
Extremely well run. Highly integrated, with internal manufacturing for analog. Focuses on free cashflow. Will likely lose share in China over time, which is looking to make things domestically.
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