AI still dominates chips, but Texas Instruments could 'kick off' analog recovery: Citi [Seeking Alpha]
Microchip Technology Incorporated (MCHP)
Last microchip technology incorporated earnings: 2/4 04:10 pm
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Source: Seeking Alpha
NASDAQ: TXN The total addressable market for AI is expanding, as government agencies, universities and medium and large businesses all buy AI chips. AMD ( NASDAQ: AMD ) recently upped its expectations for its AI-related sales to top $4B this year, up from a prior view of $3.5B. "We expect more AI upside when Broadcom reports in June," Citi analyst Christopher Danely wrote. In the analog space, Danely is bullish on Microchip Technology ( MCHP ) and Analog Devices ( ADI ). Danely said that Microchip Technology noted improvements in its bookings as cancellations and push outs have ceased; as such, he expects upside to Texas Instrument's revenue guidance of up 4% sequentially. "We expect the analog industry to experience inventory replenishment in 2H24 with upside to consensus estimates and expect TXN to kick it off with upside to its 2Q24 guidance," Danely wrote in an investor note. In other areas of the semiconductor space, Intel's ( NASDAQ: INTC ) PC business was hurt by execu
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MCHP
News
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- Why Is Microchip Tech (MCHP) Up 2.1% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
MCHP
Earnings
- 5/6/24 - Beat
MCHP
Sec Filings
- 6/12/24 - Form 4
- 6/10/24 - Form 144
- 6/3/24 - Form 4
- MCHP's page on the SEC website