Microchip Technology isn't the biggest chipmaker in the world, but a warning from Steve Sanghi, its chief executive, has rattled the rest of the industry.
The company, which is worth $8bn, said on Friday that demand in the industry was on the cusp of a correction led weaker appetite in China. Mr Sanghi said:
We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.
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