然而，预计12月季度模拟价格可能下降5%至10%，这可能会削弱任何积极情绪。分析师还预计，2025年电动汽车增长将放缓，缺乏价格实惠的车型推出，导致汽车行业面临阻力。他们认为，2025年汽车原始设备制造商的半导体平均售价将同比下降10%以上，而整体模拟价格将同比下降约5-10%。As the earnings season is about to kick off, Texas Instruments will lead the semiconductor industry by releasing its financial report first.
According to the Securities Times app, as the earnings season is about to start, Texas Instruments (TXN.US) will be the pioneer in the semiconductor industry by being the first to release its financial report. Despite the seemingly promising performance of the previous quarter, analysts predict that the December quarter will face challenges in the automotive and electric vehicle sectors due to weak demand, as well as a bleak outlook in the industrial market. In addition, intensifying competition between global companies, especially in the domestic analog market in the USA, has led analysts to lower their December quarter expectations for Texas Instruments, NXP Semiconductors (NXPI.US), Microchip Technology (MCHP.US), ON Semiconductor (ON.US), and Allegro MicroSystems (ALGM.US), despite raising the target price for Texas Instruments to $200.
Analysts at Mizuho Securities pointed out that despite the negative market sentiment, there are still some positive aspects in the analog chip sector. They believe that ON Semiconductor and Allegro MicroSystems are in the 'best position' within the industry, thanks to their investment portfolio in renewable energy and systems independent of power (i.e., not dependent on specific types of power systems, can be used in both gasoline and electric vehicles).
However, it is expected that analog prices may decrease by 5% to 10% in the December quarter, which could weaken any positive sentiment. Analysts also project a slowdown in electric vehicle growth by 2025, with a lack of affordably priced models leading to resistance in the automotive industry. They believe that by 2025, the average selling price of semiconductors for automotive original equipment manufacturers will decline by over 10% compared to the previous year, while overall analog prices will drop by around 5-10%.
Moreover, with global manufacturing Purchasing Managers' Index (PMI) below 50 in the USA, European Union, and China, the industrial sector may remain weak for some time. Analysts anticipate that delivery times for analog/industrial products will continue to shorten, customer inventory will remain high, and demand will not recover quickly.
Texas Instruments is scheduled to announce its quarterly performance and guidance after the close of October 22, with analysts generally expecting the company to achieve an earnings per share of $1.41 and revenue of $4.12 billion in the third quarter.
Despite the challenges, the target price for Texas Instruments has been raised from $190 to $200, while the target prices for the other four companies have been lowered. NXP Semiconductors, Microchip Technology, ON Semiconductor, and Allegro MicroSystems are rated as 'outperforming the large cap', while Texas Instruments is rated as 'neutral'.
