Microchip Technology Analysts Slash Their Forecasts After Q2 Results
Microchip beat Q2 earnings and sales estimates but guided Q3 below forecasts. Shares fell 2.1%; analysts cut price targets despite Buy/Overweight calls.
Microchip made more money this quarter than expected, but said next quarter will be weaker. When a company says the future looks slower, people get worried even if right now is good.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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