Microchip Customers Still Holding Back On Chip Orders, Rebound Coming In 2026 Says Analyst
1. Microchip's Q3 results indicate improved demand despite customer caution. 2. Revenue rose 6% quarter-over-quarter, exceeding seasonal growth expectations. 3. Bookings increased steadily, suggesting strong future revenue momentum into 2026. 4. JP Morgan analyst maintains Overweight rating with a $77 price forecast. 5. Gross margins are improving, with potential gains from the data center market.