(Reuters) - Analog Devices forecast fourth-quarter revenue below Wall Street targets on Wednesday, in a sign that the chip industry inventory glut, ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - Analog Devices forecast fourth-quarter revenue below Wall Street targets on Wednesday, in a sign that the chip industry inventory glut, fueled by weak consumer demand, might prevent fresh orders from flowing in.
A gloomy economic outlook in China has only worsened the pain. According to market analysis firm Counterpoint Research, smartphone shipments in the world's biggest market for semiconductors fell 8% in the June quarter. Rival Texas Instruments also forecast third-quarter revenue below market estimates as weak consumer demand prompted electronics makers to be cautious about buying chips.
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