In a scheduled update to its business outlook for the third quarter of 2011, Texas Instruments Incorporated (TI) (NYSE:TXN - News) today narrowed and lowered its expected ranges for revenue and earnings per share (EPS). The reductions are due to broadly lower demand across a wide range of products, markets and customers.
The company currently expects its financial results to be within the following ranges:
- Revenue: $3.23 – 3.37 billion, compared with the prior range of $3.40 – 3.70 billion
- EPS: $0.56 – 0.60, compared with the prior range of $0.55 – 0.65
That said, if by now investors haven't realized what is going on with the once vaunted tech space, they deserve to lose every cent of their money.