Richard Templeton on secular trends
From Texas Instruments Incorporated's TXN CEO Rich Templeton Presents at Citi's 2020 Global Technology Vi · · Daily Earnings Calls
“I think in general and you know I think you've monitored and watched this, I think as you went through the July earnings calls, I think things were reasonably logical. My general guess over a four or five year period is that you're actually going to see secular trends accelerate. And so I think of things like electrification of vehicles, it's going to continue to move very strong and pull forward on that. I think you'll find companies actually going on an increasing basis to more semiconductors and electronics because they've got to make their equipment better and more differentiated and more unique.”
On , Richard Templeton, Executive Chairman at Texas Instruments, spoke about secular trends during Texas Instruments Incorporated's TXN CEO Rich Templeton Presents at Citi's 2020 Global Technology Vi on Daily Earnings Calls.
About Richard Templeton
Richard Templeton, executive chairman of Texas Instruments, has emphasized the company’s strategy of maintaining internal manufacturing as a competitive advantage, stating that during the COVID-19 pandemic, TI performed better than competitors that were highly outsourced. He noted that in the second quarter of 2020, TI planned to run its factories at levels similar to the first quarter, leading to an inventory increase to support customers with limited forecasting ability. Templeton also discussed capital allocation, advocating for disciplined stock buybacks and dividends, and said that research and development spending would remain unchanged due to its long-term, five-to-ten-year horizon. Templeton has spoken about the importance of U.S. semiconductor industry competitiveness, calling for long-term investment in research, access to skilled talent, and a competitive tax structure. He described the U.S. as needing to be an attractive destination for the world’s best minds and supported policies that encourage R&D and domestic manufacturing investment. On geopolitical tensions, he stated that TI would comply with all laws and rulings, and that companies that adapt best will cope with challenges accordingly. Templeton also reiterated his view that recessions present opportunities to extend competitive advantage through continued investment.