Is Texas Instruments (NASDAQ: TXN) one of the overlooked opportunities in the semiconductor and AI boom?

In this episode of OrderPad, Felicity takes a closer look at Texas Instruments one of the world’s largest analog semiconductor companies and why the next phase of the semiconductor cycle could be particularly interesting for investors.

While Nvidia and the major AI chipmakers dominate the headlines, Texas Instruments operates deeper within the semiconductor ecosystem, providing analog and embedded-processing technology used across AI data centres, industrial automation, automotive, power management and thousands of electronic applications.

We unpack the improving semiconductor cycle, TI’s significant investment in 300mm manufacturing capacity and why moderating capital expenditure could potentially drive a major free-cash-flow inflection.

Felicity also explores the recent UBS investment thesis on Texas Instruments, including its US$380 price target and expectations for stronger earnings and free cash flow as the analog cycle recovers.

But there’s also a fascinating Australian connection: Weebit Nano (ASX: WBT).

Texas Instruments has licensed Weebit Nano’s ReRAM non-volatile memory technology for integration into TI process technologies for embedded-processing applications.

Importantly, TI has not yet completed qualification of Weebit’s technology. Technology transfer is progressing, with the potential commercial pathway being:

Licence → Technology Transfer → Qualification → Product Tape-Out → Production → Royalties

We also discuss the latest developments at Weebit Nano, including its broader customer pipeline, successful customer tape-outs, functional silicon, its relationship with onsemi and what investors should watch as WBT works towards production royalties.

In this episode: Texas Instruments and the analog semiconductor recovery; AI and data-centre demand; TI’s manufacturing and free-cash-flow opportunity; the UBS US$380 price target; Weebit Nano and ReRAM; the TXN/WBT relationship; and the key catalysts and risks ahead.

Tickers discussed: NASDAQ: TXN | ASX: WBT

The information in this episode is general information only and does not take into account your personal objectives, financial situation or needs. It is not personal financial advice or a recommendation to buy, sell or hold any security. Please conduct your own research and consider seeking professional financial advice before making an investment decision.

Views expressed by Felicity are her personal views based on publicly available information, third-party research and her own research. This content is not Shaw and Partners research and has not been prepared, reviewed or approved by Shaw and Partners. Nothing in this episode should be taken as representing the research, recommendations or views of Shaw and Partners.

Any third-party forecasts, valuations or price targets discussed, including UBS research, represent the views of those third parties and are not Felicity’s own forecasts. Investing involves risk and past performance is not a reliable indicator of future performance. Recorded 22nd September 2026 with all facts known at the time of recording.

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What is the market missing and where are the opportunities emerging on the ASX?

In this episode of Talk Money To Me, Candice Bourke and Felicity Thomas sit down with Julia Weng, Lead Portfolio Manager at Paradice Investment Management, to unpack what the latest reporting season revealed about corporate Australia and the outlook for Australian equities.

Julia takes us inside the thinking of a fundamental fund manager looking beyond headline earnings to understand cash flows, balance-sheet strength, management quality and, importantly, what the market may be getting wrong.

We explore Australia’s emerging two-speed economy, where household conditions remain relatively subdued while corporate capital expenditure continues to accelerate, and discuss what employment, household savings, housing activity and business investment are telling us about the health of the economy.

We also dig into some of the biggest investment themes facing ASX investors right now, including:

• Australian banks — have valuations moved too far ahead of the fundamentals, and what has really been driving the sector higher?
• AI and Australian equities — are companies actually seeing productivity and earnings benefits from artificial intelligence, or is the investment case still largely based on promise?
• REA Group, CAR Group and SEEK — could AI disrupt these businesses, or does their proprietary data actually become more valuable in an AI-driven world?
• Healthcare and former market darlings — how do you distinguish between a genuine buying opportunity and a company that deserves to trade at a lower valuation?
• WiseTech Global — what would Julia need to see before becoming more constructive on the stock?
• AG — why Julia sees the insurer as a particularly interesting exposure within the Australian market.
• Xero — and why Paradice remains constructive on the company's competitive position.

Julia also walks us through the Paradice investment process, including how the team decides when to buy and sell, the few things that really matter when analysing a company, and the question at the heart of their stock selection process: what could the market be missing?

The Paradice Australian Equities Fund typically holds 30–50 companies from the S&P/ASX 300, with its investment process focused on management, current and future cash flows and balance-sheet quality. As at 31 August 2026, the Fund had returned 10.34% p.a. net of fees since inception versus 9.20% p.a. for the S&P/ASX 200 Total Return Index, an outperformance of 1.14% p.a.

If you invest in Australian shares, ASX companies or managed funds, or simply want to understand what professional investors are seeing beneath the surface of the market, this is an episode you won't want to miss.

DISCLAIMER

The information discussed in this podcast is general in nature and does not constitute personal financial advice or a financial product. Although Candice Bourke and Felicity Thomas are registered Financial Advisers at Shaw and Partners, the content discussed does not take into account your personal objectives, financial situation or needs. You should seek appropriate professional advice before making any financial decisions.

Any views or opinions expressed by our guest are their own and should not be taken as personal financial advice or a recommendation to buy or sell any particular investment. Past performance is not a reliable indicator of future performance. Facts and information discussed in this episode are based on information available at the time of recording, 14 September 2026.

Talk Money To Me is hosted by Candice Bourke and Felicity Thomas of Shaw and Partners.

To learn more about our investment and financial solutions, or to discuss the Paradice Australian Equities Fund, contact us at cftgroup@shawandpartners.com.au.

#TalkMoneyToMe #AustralianEquities #ASX #AustralianShares #Investing #ReportingSeason #AI #ArtificialIntelligence #Paradice #FundManager #PortfolioManagement #AustralianEconomy #WiseTech #IAG #Xero #ASX200

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Candice is back on Talk Money To Me after a short break from the podcast, having welcomed her beautiful twin boys!

And she’s returning with a high conviction BUY for the Order Pad.

In this episode, Candice is bullish on Applied Materials (NASDAQ: AMAT), one of the world’s leading semiconductor equipment companies and a lesser-known way to gain exposure to the enormous investment taking place across AI and advanced computing.

While Nvidia designs many of the chips powering the AI revolution, companies still need increasingly sophisticated equipment to manufacture them. That’s where Applied Materials comes in.

Candice breaks down why rising demand for AI, high-bandwidth memory (HBM), advanced logic and advanced packaging could create a powerful long-term growth opportunity for AMAT, and why she views the company as a classic “picks and shovels” play on the AI boom.

She also digs into Applied Materials’ record financial results, the outlook for 2027, the risks investors need to consider and why UBS’s US$675 price target supports the bullish investment case.

The information in this podcast is general in nature and does not constitute personal financial advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for your circumstances and seek professional financial advice where appropriate.Where financial products are discussed, you should consider the relevant Product Disclosure Statement or other applicable disclosure document before making an investment decision. Views and opinions expressed by the host or guest are their own at the time of recording and may change. References to companies, securities, sectors or investment strategies are for general information only and should not be considered a recommendation to buy, sell or hold any investment.

Investing involves risk, including potential loss of capital. Past performance is not a reliable indicator of future performance. Everything is based on facts known at the time of recording 1st September 2026.

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