Shares of Texas Instruments Inc and Verizon Communications Inc have been in a sharp downtrend in recent months, but the sell-off has made neither of these any more attractive to own. In fact, Michael Landsberg dubbed both a “value trap” in a recent interview with CNBC.

The company’s shares fell 7.5 percent to US$185.52 in New York on Friday. That wiped out the stock’s entire gain this year and marked the worst single-day rout since the early days of the COVID-19 pandemic in March 2020. Texas Instruments CEO Haviv Ilan on a conference call with analysts on Thursday said that industrial demand remains slow.

Texas Instruments Inc. shares slid as much as 6.9% after the chipmaker gave a disappointing earnings forecast for the current period, hurt by still-sluggish demand and higher manufacturing costs.