Chip stocks fall on industry weakness

Microchip Technology Inc. (Nasdaq: MCHP) cited weakness in China for lowering its second quarter revenue outlook. Shares of rival chipmakers Fairchild Semiconductor International Inc. (Nasdaq: FCS) dropped $1.79 to $12.70 and Micron Technology Inc. (Nasdaq: MU) fell $1.89 to $28.75 in sympathy. Microchip Technology stock plunged $5.06 to $40.48.