The company is focusing on designing and selling products into the industrial and automotive markets, which they believe represent the best long-term growth opportunities.

The company is increasing capital expenditures to support future revenue growth, particularly in semiconductor manufacturing equipment and facilities, with capital expenditures at $5.07 billion in 2023 compared with $2.80 billion in 2022.

The company is investing in new capabilities to build closer direct customer relationships, with 75% of revenue in 2023 being direct, including sales through TI.com, which is valued by customers for its convenience.

The company increased its investment in R&D and SG&A to $3.69 billion in 2023 from $3.37 billion in 2022, reflecting a commitment to strengthen its competitive position.

The company emphasizes efficiency as a key element of its strategy, constantly striving for more output for every dollar spent, which contributes to revenue growth, improved margins, and disciplined R&D and SG&A expense.

The company emphasizes disciplined capital allocation, focusing on investments in R&D, sales and marketing, capital expenditures, and working capital, as well as returning capital to shareholders through dividends and share repurchases.

The company's global operations are subject to risks associated with international political, social, and economic conditions, including geopolitical tensions that affect global trade and macroeconomic conditions.

The company faces substantial competition that requires rapid responses to product development and pricing pressures, including competition from large and small companies, as well as emerging companies, particularly in Asia.

The company relies on third parties for goods and services, which exposes it to risks including disputes with suppliers, disruptions in operations, and limited access to key materials and services.

The company's business model is focused on analog and embedded processing products and is built around four competitive advantages: manufacturing and technology, broad portfolio, market channels, and product diversity and longevity.

The company invests in manufacturing technologies and does most of its manufacturing in-house, which provides lower costs, greater control of the supply chain, and geopolitically dependable capacity.

The company's broad portfolio of analog and embedded processing products offers more opportunity per customer and more value for investments, while its market channels give access to more customers and design projects.

Due to a significant portion of operating costs being fixed, the company's profit margins are impacted by changes in factory loadings, decreasing with reduced output and increasing with higher output.

The company's strategy is to build ahead of demand for broad-based products to maintain high levels of customer service and competitive lead times, which has led to a significant increase in inventory levels.

The company brings a philosophy of efficiency and continuous improvement to all areas of the company, contributing to revenue growth, improved margins, and disciplined expense management.

The company makes significant investments in research and development to improve existing technology and products, develop new products, and improve production processes.

The company is focused on creating a competitive manufacturing structural cost advantage by investing in advanced 300mm capacity, which reduces the cost of unpackaged chips.

The company owns many patents and has many patent applications pending in the United States and other countries, and has developed a strong, broad-based patent portfolio.

Capital expenditures increased to $5.07 billion in 2023 from $2.80 billion in 2022, primarily for semiconductor manufacturing equipment and facilities, as part of a long-term capacity plan.

The company returned $4.85 billion to shareholders in 2023, including $4.56 billion in dividends and $293 million in share repurchases.

The company issued $3.00 billion of fixed-rate, long-term debt and retired $500 million of maturing debt in 2023, reflecting its financing strategy.

The company invests to reduce emissions, including installing new equipment with emissions reduction technology, retrofitting existing equipment, using alternative gases, and increasing the use of renewable electricity.

The company emphasizes the importance of a mix of experiences and backgrounds to make the company stronger, more innovative, and more inclusive, with programs in place to promote diversity and inclusion.

The company's cybersecurity risk management is based on recognized cybersecurity industry frameworks and standards, including those of the National Institute of Standards and Technology.

The semiconductor market is characterized by periods of tight supply followed by periods of surplus inventory, which are affected by the time and money required to build and maintain manufacturing facilities.

The company's revenue is subject to seasonal variation, with sequential revenue growth rates typically weaker in the first and fourth quarters compared to the second and third quarters.

The company's global operations expose it to periods when the U.S. dollar significantly fluctuates in relation to non-U.S. currencies, which can have an adverse effect on results of operations and financial condition.