TXN - Texas Instruments Incorporated (TXN) BofA Securities 2024 Global Technology Conference (Transcript)
2024-06-07 17:00:24 ET
Texas Instruments Incorporated (TXN)
BofA Securities 2024 Global Technology Conference
June 05, 2024 06:20 PM ET
Company Participants
Rafael Lizardi - CFO & SVP, Finance & Operations
Mike Beckman - IR
Conference Call Participants
Vivek Arya - Bank of America
Presentation
Vivek Arya
Delighted and honored to have the team from Texas Instruments join us. Rafael Lizardi, the Chief Financial Officer; and Mike Beckman from the Investor Relations team. Very delighted that…
Rafael Lizardi
Good to be here. Thank you very much.
Question-and-Answer Session
Q - Vivek Arya
Thank you. What I'll do is, start with my questions, but please feel free to raise your hand if you had something that you would like to bring up. But maybe, Rafael, let me just kick it off at the high level perhaps give us the state of the union now we are almost kind of middle of the year. How has the demand and the inventory situation developed so far this year?
Rafael Lizardi
Yeah. Well, let me step back and just remind everyone of our plans, our investment plans that are -- that we put in place and where we are on those and why we're doing that. First, why we're putting these plans in place -- we put these plans in place and we're executing to them is one, the secular growth in semiconductors in analog and embedded and in particular in auto and industrial. And we all can see, I have a lot of examples of what's going in there and what's driving that with automation, electrification, safety that's driving that secular growth.
Second, our position in those markets is tremendous. So about three quarters of our revenue now is in auto and industrial. So we're playing in the best places. And then the last piece of that is this sector -- I'm sorry, the geopolitically dependable capacity that we're putting in place that our customers are clamoring for and that just puts us in a great place to have capacity at scale outside of China and Taiwan.
Vivek Arya
Okay. So maybe let's kind of pick up from that. From what you said, does it mean that the $5 billion per year CapEx plan that you have, is there any scenario in which it can change?...
Texas Instruments Incorporated (TXN) BofA Securities 2024 Global Technology Conference (Transcript)