According to Intel CEO Pat Gelsinger, in a recent interview with CNBC, he believes that chip shortages that have plagued the tech industry and the world in general will last into 2024.

Supply chain woes continue to contribute to the chip shortages, which has lead to high costs and lack of availability. This is a contrast to AMD’s CEO Lisa Su stating that she believes supply issues will ease up in the second half of 2022. Previously, Gelsinger suggested chip shortages would continue into at least 2023.

While availability of computer hardware is much improved compared to last year – lingering doubts arose with the supply chain, such as with the Russian-Ukrainian war as well as the return of lockdowns in China due to outbreaks of the coronavirus. The latter of which will definitely harm production as the overwhelming majority of microchips are manufactured in the country.

Though Intel, along with other manufacturers, have positioned themselves building new fabs outside of China, such as in Europe, which should both increase general production to met the ongoing demand for microprocessors. Pat Gelsinger also states in the interview that Intel is in a better position than most companies for the future.

“We feel like we’re better positioned than most. The combination of our internal capacity as well as our leverage of foundries — we’re just better positioned, and that’s part of the structural advantage that Intel has.” – Pat Gelsinger to CNBC

If Gelsinger is correct that shortages will continue to linger past this year, then availability for many products relating to gamers will see a repeat of last year.

Low or unavailable stock as seen in the last holiday season where all three major consoles saw shortages which effects hardware sales could return. Nintendo has already lowered expectations in hardware sales for their Nintendo Switch. Given this news, it’s entirely possible that the Xbox Series X/S and PlayStation 5 will suffer the same fate.