President Joe Biden holds a semiconductor chip at the White House in Washington, U.S., February 24, 2021. Jonathan Ernst/Reuters
An ongoing computer-chip shortage has affected cars, iPads, and dog-washing technology alike. Chipmakers like Intel had already seen production issues pre-pandemic, but as with many industries, COVID-19 brought a variety of new supply-chain issues. The chip shortage is a problem for consumers wanting basically anything with a computerized component, which is much of the economy. Take cars as an example.
The semiconductor shortage has hit automakers the hardest. In January, the consulting firm Alix Partners estimated the automotive industry would lose $61 billion in revenue from the shortage this year. As Insider s Katie Canales reported, demand for chips has gone up as consumers scrambled to buy cars and other technologies that use them.