Chip Law -Technology Giants Unite For Chip Production!

  Chip Law-Technology Giants Unite For Chip Production! Chip Law will help build the additional capacity required to have resilient supply chains. Tech giants like Apple Inc, Microsoft Corp and Google joined the call to fund US chip manufacturing. The aim of these companies, one of the world's largest chip buyers, is to support Intel CorpINTC (NasdaqGS) $54.96 -1.01(-1.81%) , which is forming a new lobbying group to put pressure on the state on chip manufacturing subsidies. Semiconductors, newly formed in Amazon.com's America Coalition, which includes Amazon Web Services, made a statement on the subject on Tuesday. In the statement made, it was stated that US lawmakers were requested to provide funds for the "CHIPS for America Act" and President Joe Biden was asked to transfer 50 billion dollars from Congress for this issue. The group, writen in a letter to the US Congress, "Robust funding of chip law will help build the additional capacity required to have resilient supply chains." gave place to his statements. Automotive industry groups put pressure on Biden management to secure chip supply at auto factories.

Chip Law will help build the additional capacity required to have resilient supply chains.

Despite this, according to a Reuters report published last week; management does not want to use national security law to redirect computer chips to auto manufacturers, as it could harm other industries. Group; "The government should refrain from intervening in the working sector to correct the current supply-demand imbalance that causes chip shorter " said. Technology companies such as Apple AAPL (NasdaqGS) $123.79 -3.06(-2.41%) are also affected by the chip shortage, although not as much as auto manufacturers. The iPhone maker said in a statement last month that it would lose $ 3-4 billion in current quarter sales that ended in June due to chip shortages. However, this amount is only a few percent of Apple's expected sales of $ 72,9 billion for the quarter. Chip Law will help build the additional capacity required to have resilient supply chains.  

Source: finance.yahoo.com

 

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