trait2lumiere TXN's Investment Thesis Remains Expensive Here - No Margin Of Safety We previously covered Texas Instruments (NASDAQ:TXN) in January 2023, discussing its robust profit margins and expanded R&D returns due to the mature nodes' longer product life cycle of up to 15 years. Combined with the potential benefits from the Chips Act, tempering some of the $30B Capex headwinds, we had believed that it offered a compelling diversification thesis for those looking to buy semiconductors stocks. Even so, w ...