Apple Among Companies That Will Attend White House Meeting On Chip Shortage Today: Report

Apple Inc AAPL is among a list of companies that will attend a virtual White House meeting on Thursday to discuss the global semiconductor shortage, Reuters reported, citing people familiar with the matter.

What Happened: The virtual meeting will discuss the impact of the COVID-19 Delta variant on the semiconductor supplies and the steps that can be taken to mitigate those delays.

The event will be hosted by Secretary of Commerce Gina Raimondo and National Economic Council Director Brian Deese, Reuters noted, citing the commerce department.

Intel Corp INTC CEO Pat Gelsinger along with representatives from companies such as Microsoft Corp MSFT, Samsung Electronics, General Motors Co GM, Ford Motor Co F, Taiwan Semiconductor Mfg. Co TSM and Micron Technology Inc MU will participate in the meeting.

See Also: Intel Said To Be Considering Buying GlobalFoundries In $30B Deal

Why It Matters: Global automotive and smartphone industries have been battling an acute semiconductor chip shortage that started last year. The chip shortage has forced companies to halt production and delay deliveries. The recent Delta variant surge in the U.S. has elevated fears that the economic recovery may be slower as it heads into the winter months.

Price Action: Apple shares closed 1.69% lower at $145.85 on Wednesday. 

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