The past year has been tough economically speaking. We have experienced one of the quickest economic downfalls in history, but we are improving at a fairly fast rate. Almost instantaneously we have seen tech companies bounce back from 2020. Consumer demand is at an all-time high right now, but how long is that going to last?

Consumer demand for electronics like laptops, 5G phones, and other devices are bouncing back from their fall in 2020. People are wanting new technology like nobody’s business, but companies are having a hard time keeping up with the high demand. 

Microchips, you know the little things in electronic devices that make things tick, is now in short supply. Microchips are the most essential part of electronic technology and are in virtually all of our consumer goods, making it extremely difficult for manufacturers to meet the high demand. If manufacturers can’t meet the demand, that means the economy is going to fall more and we all do not want that. 

With new 2021 cars and their big screens on top of 5G phones and new laptops, microchips are needing to be made and distributed fast. And by fast, I mean we needed it by yesterday. But not to worry, companies like TSMC and Intel are working their hardest to make these microchips and meet the demand that people are creating. They are doing what they can to respond fast and efficient to the chip shortage.

Soon enough we will all be looking at a healthier economy, and a microchip full one at that.

What are your thoughts on the latest microchip news? Are you ready for a healthy-looking economy?

This article originally published on GREY Journal.