TXN Slides 11% in a Month: Is the Stock Still a Smart AI Investment?

Texas Instruments’ (TXN) shares fell 11.2% over the past month, underperforming the Zacks Computer and Technology sector, which rose 4.5%. The decline is broader than TXN alone: Amtech Systems (ASYS) is down 16.6%, Qualcomm (QCOM) down 18.8%, and STMicroelectronics (STM) down 27%. The article attributes the pressure to concerns that hyperscalers may not generate enough returns from large AI investments, plus valuation pressure after a strong early-2026 rally. Financially, Texas Instruments reported second-quarter 2026 revenues up 23% year over year and non-GAAP EPS up 52%. For Q3, management guided revenues of $5.65 billion to $6.15 billion and EPS of $2.23 to $2.57.