During Intel’s Q2 Earnings call, CEO Pat Gelsinger said that he expects the chip shortage to continue well into 2022, with supply issues stretching into 2023. The Chip Shortage issue affects many businesses.

Many businesses facing losses due to chip shortages. In Gelsinger’s words, “While I expect the shortages to bottom out in the second half, it will take another one to two years before the industry can completely catch up with the demand”.

Due to the global semiconductor shortage, demand for gaming high-ticket items has been notoriously difficult to acquire. Many of these items are being sold primarily online, mostly with unexpected restocks. While some retailers have sold select items in stores, supply remains extremely limited and cannot keep up with the overwhelming demand.

However, this is not the first time we hear that the chip shortage will stick around longer than we hoped while worsening before they get better. In May, Nvidia’s CEO Jensen Huang said he anticipates supply shortages for the RTX 30 series to last until later this year. In that same month, Sony’s CFO Hiroki Tokoi said during an earnings call that the company is expecting PS5s to remain in limited supply into 2022.

Within the last year, the chip shortage has caused strains across numerous industries to include gaming. If you are hoping to secure a PS5, Xbox Series X/S, or RTX 30 graphics card, it will not likely happen until 2023.

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