On July 23, Texas Instruments fell 6.44% in regular trading, trading at $278.9/share, with turnover of $266 million.

On the news front, the company reported Q2 revenue of $5.463 billion, up 23% year-over-year and exceeding the consensus estimate of $5.248 billion. Adjusted EPS came in at $2.14, surging 51.77% year-over-year and beating the $1.92 estimate by 11.46%. Gross margin expanded to 61.36%, and net income rose 53%. Management noted broad-based growth across end markets, with automotive business accelerating in Q2.

Despite the strong beat and upbeat Q3 guidance, the stock had already accumulated approximately 70% gains year-to-date, with multiple brokerages having raised price targets ahead of the report. The earnings upside failed to exceed the market's already elevated expectations, triggering significant profit-taking pressure. Analysts including JPMorgan, KeyBanc, and Evercore ISI raised their price targets post-results, but the stock nonetheless faced heavy selling throughout the session.

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