After digesting Texas Instruments' (NASDAQ:TXN) latest quarterly results and guidance, Wall Street is getting closer to the belief that a bottom in the analog market is around the corner, but it's not here just yet.

In the broader industrial/auto end markets, we’re not at the bottom yet,’ Truist Securities analyst William Stein wrote.

Texas Instruments shares tumbled Friday, leading other analog chipmaker stocks lower after the company’s disappointing profit forecast raised worries that a recovery for analog chips could be slower than anticipated.

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.