Qualcomm: chip shortages will continue until the first half of 2022

According to Qualcomm, the chip shortages will last until the first half of 2022. The Wall Street Journal writes that. Investment results are expected from the second half of 2022. Qualcomm posted $8.1 billion in revenue and $2 billion in profit for the quarter.

According to CEO Cristiano Amon, Qualcomm sometimes uses multiple third parties to produce the same chipset. In this way, the company hopes to maintain deliveries. Still, Amon shared according to The Wall Street Journal that demand still exceeds supply. He made this announcement during the announcement of the quarterly results.

CFO Akash Palkhiwala endorses these statements, according to the WSJ: “We are limited in our options until the beginning of 2022. From the second half of that year, many investments will start to yield results and the situation will have improved,” it sounds.

Qualcomm booked during the past quarter sales of $8.1 billion. The company therefore performed better than its own forecasts. Profits are $2 billion. Qualcomm estimates it could generate $9.2 billion in revenue next quarter; that would be a record for the company.

Update, 10:15 pm: Title and introduction changed. Original title suggested that the problems would continue into the second half of 2022. Courtesy of CyberMania.