Earnings

Applied Materials expects to recoup sales lost to pandemic in second half

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Technicians work on machinery at the Applied Materials facility in Santa Clara, California.

David Paul Morris | Bloomberg | Getty Images

Chip gear maker Applied Materials said it expects supply chain to gain strength in the second half of the year and help it recoup sales lost due to the Covid-19 disruption, sending its shares up 4% in extended trading on Thursday.

The company had earlier said that government restrictions in the U.S. and other countries, as well as reductions in airline schedules globally, were disrupting its supply chain.

“All of our suppliers have now been able to resume operations, and they are recovering to normal output. We have been in very close communications with…



Source cnbc.com

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