© Applied Materials General | March 25, 2020
Applied Materials walks back Q2FY20 business outlook
Applied Materials Inc. is withdrawing its business outlook for the second quarter of fiscal 2020, ending on April 26, 2020, due to the changing worldwide response to COVID-19 and its impact on the company’s supply chain and manufacturing operations.
In a press release, the company cited various issues leading to the decision, including domestic and foreign governmental orders, airline travel restrictions, and global supply chain and logistical disruptions to the industry. In the meantime, the company said it will maintain focus long-term trends that are expected to drive future growth in the electronics industry and is working toward closing the transaction to purchase Kokusai Electric. Applied Materials also stated the company is prioritizing the health and safety of employees and their families, as well as customers, suppliers, partners and the communities in which it operates and responding with humanitarian aid in the most impacted communities where employees and their families live.