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Benzinga
Benzinga
Business
Anusuya Lahiri

THE TRUTH ABOUT: Microchip slashes q3 revenue guidance issues restructuring plan | History Defined

On Monday, Microchip Technology Inc (NASDAQ:MCHP) cut revenue guidance for the December 2024 quarter and announced manufacturing restructuring plans after a deep dive into the company's operations.

The update followed the Biden administration's third crackdown on China's semiconductor industry, which focused on advanced memory chips and chipmaking tools and affected chip equipment manufacturers.

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