Worldwide Microchip Shortage and Why You Should Order Early

The worldwide shortage of microchips is causing a major slowdown in the production of computers and other electronics.

The demand for microchips has surged due to high-end smartphone and tablet sales, and work from home while supply has decreased because of an industry wide manufacturing problem with wafers, the global pandemic and fires and flood in overseas manufacturing plants.

New factories are being built all over the world to help ease this bottleneck, but it will take time before these new factories can produce enough chips again.

The result? Long lead times to get computers and electronics and prices are likely to rise substantially--possibly by as much as 20%--for consumers across the board on just about everything from cellphones and tablets to televisions and cars, not mention cost-intensive industries like oil exploration that depend on advanced technology for drilling rigs or offshore platforms.

Watch this new video to see why you should order early if you need equipment in the next 6-12 months.