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Intel, an American Multinational Co-operation’s CEO has revealed that the chip shortage won’t end until 2023.
Intel CEO Pat Gelsinger announced during Q3 earnings that, global chip shortage won’t end until 2023. Gelsinger stated that, “We’re in the worst of it now; every quarter next year, we’ll get incrementally better, but they’re not going to have supply-demand balance until 2023.”
On the other hand, Intel’s rival Advanced Micro Devices (AMD) CEO has shown optimism that the situation will get better by 2023. He added that, “It gets better next year, not immediately, but it’ll gradually get better as more plants come up.” Furthermore, Intel CEO explains that, the problem isn’t just a shortage of chips problem particularly, but rather it’s a problem as a result of shortage combinations of parts. He asserted, “We call it match sets, where we may have the CPU, but you don’t have the LCD, or you don’t have the Wi-Fi. Data centers are particularly struggling with some of the power chips and some of the networking or Ethernet chips.”
Read also: Apple plans to cut iPhone 13 production due to chip crunch: report
Meanwhile, earlier, Apple Inc (AAPL.O) has also planned on slashing the production of its iPhone 13 by as many as 10 million units due to the global chip shortage. In July, Apple forecast slowing revenue growth and said the chip shortage, which had started hitting its ability to sell Macs and iPads, would also crimp iPhone production. Texas Instruments also gave a soft revenue outlook that month, hinting at on-chip supply concerns for the rest of the year.
