Microchip (MCHP) reported earnings after the close yesterday. Earnings for Microchip were truly terrible.
This morning the Wall Street brokers are downgrading Microchip en masse.
Microchip notes that consumer business was soft. Our research shows that Microchip derives about one-third of its business from consumer oriented products.
As of this writing, Microchip is down 14%. If Microchip dips further and our leading economic indicators start turning, we will provide an actionable signal in the Real Time Feed of the ZYX Buy Change Alert.