Initiate a 1.0% portfolio position in TXN at $288 with a hard stop at $265 (below the Bollinger lower band at $264.61), scaling to 2.0% only on a confirmed daily close above the 50 SMA at $293.62 on above-average volume. Reassess after MCHP earnings in late August as an industrial analog confirmation catalyst, and again after TXN Q3 earnings in October as the primary thesis test.