Applied Materials Withdraws 2Q Guidance

By Mary de Wet

Applied Materials Inc. on Monday withdrew its business outlook for the second quarter, citing the impact of the worldwide response to the new coronavirus on the company's supply chain and manufacturing operations.

The chip-equipment maker said governmental orders in the U.S. and other countries as well as reductions in airline schedules are causing major disruptions to the supply chain and logistics operations Applied Materials uses.

Elected officials and health authorities have encouraged people to stay home to curb the spread of the virus. About 16,400 people worldwide have died after being infected with the Wuhan strain of the coronavirus, which was discovered in December.

Write to Mary de Wet at mary.dewet@dowjones.com

(END) Dow Jones Newswires

March 23, 2020 16:47 ET (20:47 GMT)

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