According to the White House, President Joe Biden will step in to help address the global semiconductor shortage. The President is expected to sign an order soon to review the causes of the shortage and help identify solutions.
Last Thursday, a group of major chipmakers, such as the Intel Corporation
The Biden administration has seemingly heard the calls for help by American chipmakers. According to the White House press secretary, it will be launching a probe to identify the issues causing breakdowns in US supply chains. According to the announcement, the Biden administration will review breakdowns in supply lines and attempt to plot a path forward for the industry. As part of the administration's longer-term plans, the President plans to put the government to work, helping the industry develop a long-term recovery strategy.
Quick action is essential to resolving the current shortage, mainly because the shortage is causing disruptions in other industries, including the automobile industry. General Motors
Despite the ongoing shortage, many chipmakers still appear to be doing fine stock-wise. American chipmaking giants Intel and AMD are both ahead for the month to date and the year to date. Intel has been on a steady climb for the past week or so; AMD has also maintained a positive trend.