Dell's Chief Projects Semiconductor Chip Crunch To Extend For Multiple Years: Reuters

Dell Technologies Inc’s DELL Michael S. Dell expects the semiconductor chip crisis to extend for several years despite the construction of global factories, Reuters reports based on a statement to Germany’s Handelsblatt newspaper.
The crisis will loom for older and cheaper semiconductors, especially those available at the one-dollar range used practically everywhere. He also expressed concerns over the availability of newer technologies.
The pandemic-induced demand surge for electronic gadgets triggered a chip crisis for items ranging from cars to computers and smartphones.
Dell has to pay a premium to secure supply despite accounting for an annual order volume of $70 billion.
Intel Corp INTC and Taiwan Semiconductor Manufacturing Co Ltd TSM also estimate the crisis to extend beyond 2021.
Other companies expressing concerns over the crisis include Qualcomm Inc QCOM for its smartphone and gadget processor chips, Germany’s Robert Bosch GmbH, AutoNation Inc AN due to the lack of crisis resolution.
Price action: DELL shares closed lower by 1.37% at $99.68 on Monday.