Chip shortage will last until year 2023: Intel CEO

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In a recent interview with CNBC, Intel CEO Pat Gelsinger discussed the consequences for the company due to ongoing chip shortages. Gelsinger pointed out that the global shortage affected its PC chip business in the third quarter of 2021. He also pointed out that the company had an 8% decrease in its stock price during the quarter.

"We are in a very bad situation now, each quarter next year will be much better, but they will not have a balance of service delivery needs until 2023," Gelsinger said during the interview.

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Now, Intel is not the only company affected by chip shortages. Samsung, earlier this year, confirmed the launch of the Galaxy Note and S21 FE devices by 2021, largely due to chip shortages. In addition, according to a recent report, Apple is now looking to cut off the production of iPhone 13 devices due to chip supply problems.

However, in the case of Intel, it has not been all that bad in the past few months. The chief executive said that in addition to the availability of smaller chips, Intel has been able to secure a 5% YoY increase in revenue, due to the strong demand for its DCG and IoTG wings. In addition, the company generated $ 9.9 billion in revenue and paid $ 1.4 billion in profits.

• "Revenue for Q3 was $ 18.1 billion slightly below our guidance due to shipping and shipping issues that affected our businesses," Intel's Chief Financial Officer, George S. Davis, said in a statement.

Moreover, according to the CEO, the demand for high-end consumer-oriented textbooks and commercial desktops remained stable during this period. However, Gelsinger said digital integration into everything, thanks to four basic technologies such as AI, cloud-to-edge infrastructure, strong connectivity, and the open-source computer will continue to press the demand for silicon chips in the industry.

Looking forward to your responses : )

Regards,
@Teky