March 23, 2020 / 9:10 PM / 13 days ago

Applied Materials pulls second-quarter outlook as coronavirus disrupts supply chain

(Reuters) - Applied Materials Inc (AMAT.O) said on Monday it is withdrawing its second-quarter outlook as the chip gear maker’s supply chain and manufacturing operations were hit by the coronavirus outbreak.

The company said various governmental orders in the United States and other countries as well as reductions in airline schedules around the world were majorly disrupting its supply chain. [nGNX6r8dW]

Applied Materials is the latest in the line of chipmakers and chip equipment makers that have either lowered or pulled their outlook, hurt by demand and supply disruptions caused by the pandemic.

Last week, chipmaker Broadcom Inc (AVGO.O) withdrew its revenue forecast for 2020 as demand slowed down due to uncertainties around the outbreak. [nL4N2B5549]

Reporting by Ayanti Bera in Bengaluru

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