In a recent interview with CNET, incoming Qualcomm CEO Cristiano Amon describes the semiconductor shortage as a crisis that spans markets and industries.
Crisis is an interesting word, and it’s one that’s often abused. In the late 2019 months leading up to the pandemic, for example, we were told---mostly by Microsoft and Intel---of a crisis involving the availability of certain types of PC-based chipsets---but that event was, at best, limited in scope to the PC industry. (And at worst was invented.) That “crisis” was used to explain away why certain companies were underperforming at a time when they should have been more agile in meeting customer needs. It’s the classic magician’s trick of waving one’s hands to diver the attention of the audience from what’s really happening.