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Inside the July Chip Market: TI, ST & NXP Earnings and Global Component Market Trends

Published on: September 8, 2025
  • TI released its Q2 earnings, but its Q3 outlook missed expectations.
  • ST signed a US $900 million acquisition agreement with NXP and issued its FY 2025 Q2 report.
  • NXP posted Q2 revenue of US $2.9 billion, with automotive making up more than half.

TI

TI’s Q2 revenue reached US $4.448 billion, up 16 % YoY—above the expected US $4.36 billion—and operating profit was US $1.563 billion, up 25 %. Analogue sales were US $3.452 billion (+18 %), embedded processing US $679 million (+10 %), and other businesses US $317 million (+14 %). Because of tariff uncertainty, customers pulled in orders early—especially in industrial segments and China—creating a temporary “over-heated” demand spike. Price-increase rumours also helped inventory digestion, but the effect is not expected to last. TI guides Q3 revenue at US $4.45 billion to US $4.8 billion, a cautious stance that misses consensus. Industrial is now the fourth of five end-markets to begin recovering, while automotive “has not yet recovered”; prolonged weakness could extend the destocking cycle. TI’s quarter-end inventory stood at US $4.8 billion (231 days), nine days lower QoQ.

ST

On 25 July, ST announced a cash purchase of NXP’s MEMS-sensor division for up to US $950 million (US $900 million upfront, US $50 million later). The unit generated about US $300 million in 2023 revenue, mainly from automotive-safety and industrial pressure sensors. Closing is expected in H1 2026, pending regulatory approval.

For FY 2025 Q2 (Apr–Jun), ST posted revenue of US $2.766 billion, down 14.4 % YoY, a gross margin of 33.5 %, and—after US $190 million in impairment and restructuring charges—its first quarterly net loss of US $97 million. Embedded-processing revenue was US $847 million (−6.5 % YoY) but edged up QoQ on strength in personal electronics and industrial; automotive lagged. ST expects Q3 revenue of roughly US$3.17 billion, implying about 15 % QoQ growth.

NXP

Q2 revenue totalled US $2.926 billion (−6 % YoY, +3 % QoQ); automotive chips generated US $1.729 billion (+3 % QoQ), exceeding 50 % of sales. Industrial & IoT brought in US $546 million (+7 % QoQ), mobile US $331 million (−2 % QoQ), and communications & infrastructure US $320 million (+2 % QoQ).Dependence on automotive leaves NXP highly exposed to tariffs and geopolitics. Management believes the long inventory correction in auto chips could finish by year-end, judging from Q2 stabilisation. However, U.S. auto tariffs and weak EV demand in Europe and the U.S. still pose risks. NXP forecasts Q3 revenue at US$3.05 billion to US$3.25 billion.

Manufacturer Updates

Market Trends

Analog Devices

  • ADI sees healthy bookings; low substitutability safeguards margins.
  • TI spot demand rose on price-hike rumours, but general-purpose parts remain locked in fierce price competition.

Logic Devices

  • ALTERA Cyclone and MAX series show simultaneous increases in spot demand and price.
  • XILINX will impose quotas on 16/20/28 nm parts, extending lead times; some Kintex-7 and Virtex-7 versions will be China-only.

MCU Devices

  • ST may lengthen automotive MCU lead times; STM32F103 spot demand is hot.
  • NXPautomotive MCU supply stays tight (32-bit MCU lead time about 20 – 26 weeks).
  • Microchip has a slight inventory build-up in 8-/16-bit MCUs.

Discrete Devices

  • Standard commercial discretes are stable, but special-purpose power devices face longer lead times and mild price rises; generic power-semiconductor price wars continue.
  • ONSEMI MOSFET lead times 12 – 16 weeks; forward pricing sensitive to tariffs.
  • VISHAYrectifier lead time is 14 – 22 weeks.
  • INFINEON MOSFET lead times trend longer at 12 – 22 weeks.

Passive Components

  • Demand from industrial automation, data-centre and other sectors continues to rise, and third-quarter delivery cycles are showing a lengthening trend.
  • Tantalum capacitors: lead times are tending to extend, with AVX currently at 20–28 weeks and Kemet/Yageo roughly 20–47 weeks.
  • MLCCs: the lead times of some products and suppliers will be extended; Kemet/Yageo and AVX are around 20–34 weeks, while TDK is about 20–22 weeks.
  • Connectors: most products are seeing a clear upward price trend; supply and material interruptions are increasing production pressure on connector components, and tariff-related factors are causing price volatility. Prices from TE / ITT / CONESYS all show an upward trend in the third quarter.

Memory Products

  • DDR4 shipments surge, spot prices climb, and OEMs may delay shutdown plans.
  • DRAM DDR4 shortages and price rises are likely to persist through year-end; SAMSUNG DDR4 8 GB and MICRON LPDDR4X 16 GB are the hottest parts.
  • NAND FLASH contract prices are projected to rise 5 – 10 % in Q3.
  • HBM: SAMSUNG’s entry into HBM could reshape supply; MICRON and SK HYNIX may face margin pressure and pricing adjustments.

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