10 Stocks Bolstered by Broader Market Cheer

3. MicroChip Technology Inc. (NASDAQ:MCHP)

Microchip Technology saw its share prices rally by 27.05 percent on Wednesday to end at $44.90 apiece as investor sentiment was largely buoyed by the US decision to pause from raising tariffs on 75 countries, fueling hopes for higher demand for chips.

On Wednesday, President Donald Trump said he decided to pause “effective immediately” the imposition of higher tariffs on 75 countries that reached out for renegotiations.

However, he further increased the US taxes on Chinese goods to a whopping 125 percent.

MCHP is expected to benefit from the recent pause as it would help bolster demand for its products during the 90-day delay.

Headquartered in Chandler, Arizona, MCHP is a company engaged in supplying smart, connected, and secure embedded solutions to more than 125,000 customers across various industries.