$德州仪器(TXN)$

Our strategy to maximize long-term free cash flow per share growth has three elements: 1. A great business model focused on analog and embedded processing products and built around four sustainable competitive advantages.

2. Discipline in allocating capital to the best opportunities. This spans how we select R&D projects, develop new capabilities, invest in manufacturing capacity or how we think about acquisitions and returning cash to our owners.

3. Efficiency, which means constantly striving for more output for every dollar spent.