Microchip Technology has experienced a cybersecurity incident that has disrupted some business operations and impacted manufacturing output. The company is currently investigating the incident and its full impact remains unknown. Shares of MCHP are trading lower following the disclosure.
Microchip Technology Inc. (MCHP) is facing a potential Death Cross, a bearish technical indicator that suggests a prolonged downward trend. The stock has already experienced significant declines this year and is nearing a crucial crossover of its moving averages. While Microchip’s fundamentals in microcontrollers remain strong, the technical indicators signal a potential rough road ahead for the company’s stock price.
