US stocks move: Texas Instruments drops nearly 7% post-earnings as profit-taking is triggered, after having surged over 70% year to date

Glonghui, July 23 | At the start of trading, a certain exchange once fell nearly 7%, hitting a low of $274.1. According to reports, the exchange’s second-quarter revenue increased by 23% year-on-year to $5.46 billion, and earnings per share reached $2.14, both exceeding market expectations. The company expects third-quarter revenue to be between $5.65 billion and $6.15 billion, while analysts’ average forecast is $5.62 billion. Analysts pointed out that although the company’s second-quarter performance and third-quarter guidance both surpassed market expectations, the stock price, which has already risen more than 70% this year, has priced in these positives in advance, so investors chose to take profits after the results were released.