No. One of my boyfriend's family's pets is a chihuahua. While he does have a tendency to bark and be protective, he can also be quite loving. He likes for people to pet and cuddle him, he just has to warm up to them first.
He's not very good with children though. From what I've seen, chihuahuas have little patience for constantly being pulled on, poked, etc. All things that children love to do to animals.