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.

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription