Tech Firms Riding A Bumpy Road With Q3 Earnings Due
With a bevy of tech leaders set to report quarterly earnings, concerns about weakness in China and Europe, a strong dollar and a chip downturn have investors nervous. Worries surfaced Friday as chip stocks got hammered on fears that a downcycle had begun, though the Q3 earnings outlook for the sector is strong. Chip stocks tumbled after Microchip Technology (MCHP) late Thursday warned of weaker-than-expected demand in China and lowered its revenue