The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid mounting uncertainty in the technology sector, chip stocks faced intense selling pressure that impacted major manufacturers. Texas Instruments (TXN) stock fell 8.40% in a single day to close at $304.36 following a global semiconductor selloff originating in Asia. This decline occurred despite the company's strong Q1 results and growth in data centers, as negative market sentiment overshadowed its $20 billion factory expansion plans.
This drop coincided with a collective retreat among industry peers, as major companies like Nvidia and AMD experienced similar pressures due to valuation concerns. Per market data, this decline reflects a broader technical correction in the semiconductor index (SOX), influenced by weakening demand in certain Asian markets. Analyst reports suggest that investors opted for profit-taking following a period of record gains for the sector since the start of the year.
Sign in to access this content
Sign InAt the close of June 23, 2026, TXN shares settled at $304.36, nearing the daily low of $301.08. Traders are currently monitoring the psychological support level at $300 as a key barrier to prevent further slides. Looking ahead, the market awaits significant economic data including US Initial Jobless Claims and manufacturing indices, which may determine the direction of liquidity back into growth stocks.
Update: Despite recent selling pressure, Stifel Nicolaus analyst Tore Svanberg raised the price target for TXN to $360, suggesting an 18.28% upside. This bullish outlook is supported by projections of a 34.75% growth in EPS to $1.90, driven by data center revenues nearly doubling year-over-year due to surging AI demand.