On March 17 and 23, Lam Research (LRCX) and Applied Materials (AMAT), respectively, pulled their outlook for their next quarter. Frankly I was flabbergasted that during their earnings calls executives from these companies downplayed the effect of COVID-19, particularly AMAT, whose earnings call was a month after LRCX and COVID-19 was becoming more rampant.
For example, I wrote in a Feb. 13, 2020, Seeking Alpha article entitled “Applied Materials Downplays Coronavirus In Guidance,” I noted in my summary bullets:
- Applied Materials recently announced fiscal Q1 earnings, presenting an upbeat