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Applied Materials Withdraws Guidance as Pandemic Disrupts Supply Chain

Applied Materials  (AMAT) – Get Report, the maker of semiconductor equipment, said it was withdrawing its fiscal second-quarter guidance because the global coronavirus outbreak was causing disruptions to the company’s supply chain and manufacturing operations.

“While the company’s global operations network is designed to provide significant flexibility and redundancy, various governmental orders in the U.S. and other countries as well as reductions in airline schedules around the world are resulting in major disruptions to the supply chain and logistics operations that support our industry,” Applied Materials said in a statement. “The situation is fluid, and we will provide more information during our next earnings webcast. “

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