Is Texas Instruments Incorporated (NASDAQ:TXN) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Texas Instruments Incorporated at current levels.
The capex hangover is ending, the cycle is turning, and the US-made analog chip thesis just got geopolitical jet fuel.
Where TXN is headed
Picture TXN in late 2027 with four fabs running at meaningful utilisation in Sherman and Lehi, a gross margin clawing back toward the 65% line it used to defend, and a US Commerce Department that treats analog chip self-sufficiency the same way it treats leading-edge logic. That is the destination. The story between now and then is the unwind of the most painful capex cycle this company has run since the 1990s. Roughly $40 billion spent, free cash flow crushed to $1.1B on a TTM basis (a fraction of what this business produces at mid-cycle), and a shareholder base that spent two years asking whether the Rich Templeton playbook still applied.
Read the full Compass Direction on TXN
The complete destination call, the overlooked angle, milestones, and bull, base, and bear price scenarios (around $309.21).
See the full TXN analysisGet calls like this, free
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Frequently asked questions
Is Texas Instruments Incorporated (NASDAQ:TXN) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating Texas Instruments Incorporated at current levels. The capex hangover is ending, the cycle is turning, and the US-made analog chip thesis just got geopolitical jet fuel.
What is TXN's Compass Score?
Texas Instruments Incorporated scores 83/100 on Alexandria's Compass, placing it in the "True North" tier. Scores blend eight factors and update weekly.
What is the price target for TXN?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the TXN page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.