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Applied Materials drops Q2 outlook amid coronavirus impact

Author: University of Salford Press Office.

March 24 (Renewables Now) - Applied Materials Inc (NASDAQ:AMAT), which makes equipment used in the production of solar cells, on Monday withdrew its business outlook for the fiscal second quarter ending on April 26, 2020, because of the impact of the coronavirus pandemic.

The company, which is a semiconductor specialist, said in a statement that the supply chain and logistics activities supporting its industry are experiencing major disruptions due to various governmental orders in the US and other countries aimed at dealing with the COVID-19 crisis.

Applied Materials noted it is actively managing the situation in close collaboration with its customers and suppliers.

In addition, the company said it is providing humanitarian aid in the most impacted communities where its employees and their families live.

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