Reported 2 months ago
Microchip Technology has predicted second-quarter net sales that fall short of Wall Street expectations, citing weak demand from customers struggling to reduce excess inventory accumulated during the pandemic. The company anticipates net sales between $1.12 billion to $1.18 billion, well below the average analyst estimate of $1.31 billion, as the overall macro environment, particularly in industrial and automotive markets, remains weaker than expected.
Source: YAHOO