Microchip Technology rises after upbeat data center revenue forecast
02/06/2026 10:58
BUZZ-Microchip Technology rises after upbeat data center revenue forecast ** Embedded chip maker Microchip Technology's MCHP.O shares rise 5.5% to $96.54 premarket
** Co expects 65% jump in data center solutions revenue in 2026 to roughly $500 million
** MCHP sees “continued acceleration” in demand, driven by data center and AI-related applications
** Last month, MCHP forecast Q1 revenue above estimates on strong chip demand
** Co says planned price increases across its product portfolio would not impact its current-quarter outlook
** As of last close, MCHP stock up 43.6% YTD
(Reporting by Utkarsh Hathi in Bengaluru)