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Microchip Technology (MCHP) stock surged over 4% in after-hours trading, after the company announced that its third quarter revenue is expected to reach approximately $1.185 billion, well above the previously revised expectations. CEO Steve Sanghi stated that strong order volume and a broad market recovery are the main drivers of performance growth. The company is progressing with its strategic recovery plan as scheduled ahead of the full financial report release on February 5, 2026.