Analog Devices Expects Revenue to Slide More. Chip Stocks Still Face Headwinds.

Analog Devices said Wednesday that weaker demand from telecommunications companies and consumer electronics makers was hitting its chip sales.

Analog Devices was expected to report earnings of $2.52 a share on revenue of $3.10 billion according to a FactSet poll of analysts’ estimates. The company’s quarterly revenue was down 1% from the same period a year ago. Revenue in its biggest markets, the industrial and automotive sectors, rose. However, it was hit by sharp falls in sales of chips for communications and consumer devices.

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Analog Devices Stock Sinks on Weak Outlook. It’s Bad News for Chip Stocks.Analog Devices shares dropped on Wednesday after its quarterly guidance missed analysts' expectations. Other semiconductor companies with big industrial and...
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Analog Devices stock slides as earnings fall short and company says it faces ‘near-term turbulence.’Analog Devices Inc. stock was down nearly 8% in premarket trades Wednesday after the chip maker’s adjusted third-quarter profit missed Wall Street estimates....
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