The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.

286
66
Favorite

The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.

Barrons2021-08-23

Semiconductors might be the new oil—and that could make the 2020s the new 1970s. Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

286

Report

Comment（66）

来人
·2021-08-24
Up up up
Reply
1
Report
Jacqueslim
·2021-08-23
Ok
Reply
1
Report
KYHBKO
·2021-08-23
let us monitor the other parts of the supply chain too. getting the chips is only the first part.
Reply
1
Report
Fold Replies
- Jacqueslim:
  ok
  2021-08-23
  Reply
  Report
plain_paper
·2021-08-23
I don't see the rush to buy $tsm$ though. A bit disappointing.
Reply
2
Report
Fold Replies
- plain_paper:
  I guess the story will fall apart if China companies are allowed to buy tsm chips again. at this stage I am happy with 10%
  2021-08-24
  Reply
  Report
- DJBoy:
  Agreed
  2021-08-23
  Reply
  Report
- Syin23:
  So bullish, maybe got vested interest. LOL
  2021-08-23
  Reply
  Report
View more 1 comments
DenisL
·2021-08-23
NVDA, let’s go?
Reply
2
Report
Fold Replies
- DJBoy:
  To the mooon
  2021-08-23
  Reply
  Report
HENRYCSC
·2021-08-23
?
Reply
1
Report
j______1
·2021-08-23
$TSM $AMD
Reply
3
Report
Hinhin888
·2021-08-23
TSM faster up up up
Reply
6
Report
Fold Replies
- chiapopo:
  Time to hoot9e??
  2021-08-24
  Reply
  Report
- Nibatry:
  wow ? ?
  2021-08-24
  Reply
  Report
- VT6828:
  [微笑]
  2021-08-23
  Reply
  Report
invest0707
·2021-08-23
Intel, AMD, TSM
Reply
2
Report
Fold Replies
- dt1:
  [微笑]
  2021-08-23
  Reply
  Report
dt1
·2021-08-23
[微笑]
Reply
2
Report
百忍Byron
·2021-08-23
Ok
Reply
2
Report
Kawakun
·2021-08-23
Interesting
Reply
1
Report
Fold Replies
- Dragon77:
  Great
  2021-08-23
  Reply
  Report
lee12
·2021-08-23
Good read
Reply
4
Report
lee12
·2021-08-23
Good read
Reply
2
Report
lee12
·2021-08-23
Good read
Reply
Like
Report
lee12
·2021-08-23
Good read
Reply
1
Report
lee12
·2021-08-23
Good read
Reply
1
Report
meowmeow88
·2021-08-23
Main gist is shortage which will be eventually be met. Think toilet paper, masks and gloves last year vs. this year. Make a quick buck now!
Reply
3
Report
Fold Replies
- JohnjohnnReplying tomeowmeow88:
  Haha
  2021-08-26
  Reply
  Report
- meowmeow88:
  wish i knew
  2021-08-24
  Reply
  Report
- Johnjohnn:
  Sell intel?
  2021-08-23
  Reply
  Report
Samuel.L
·2021-08-23
Ok
Reply
3
Report
许哲东
·2021-08-23
Local manufacturing?in term of Labor costs, northeast Asia will be more cheaper than US..
Reply
1
Report
Fold Replies
- Samuel.L:
  Ok
  2021-08-23
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1111103954?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-23 07:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1111103954","market":"us","top_or_hot":-1,"title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","media":"Barrons","content":"<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Source Link</a>\n\n</div>\n","source":"lsy1601382232898","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XOM","symbol_name":"埃克森美孚","start_time":0,"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","article_id":"1111103954","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","pubTimestamp":1629675616,"sourceInfo":{"source_id":"lsy1601382232898","name":"Barrons"},"weMediaInfo":null,"summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"XOM":"埃克森美孚","INTC":"英特尔","TSM":"台积电","CVX":"雪佛龙","AMD":"美国超微公司","MU":"美光科技"},"translate_title":"芯片短缺看起来像20世纪70年代的石油短缺。对股票和经济意味着什么。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMD":0.9,"CVX":0.9,"INTC":0.9,"MU":0.9,"TSM":0.9,"XOM":0.9},"content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":835741197,"gmtCreate":1629758868919,"gmtModify":1676530119576,"author":{"id":"3575544575320394","authorId":"3575544575320394","name":"来人","avatar":"https://static.tigerbbs.com/0af89587decbb8a1d3e1596adc29cb98","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3575544575320394","authorIdStr":"3575544575320394"},"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835741197","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835488035,"gmtCreate":1629731858827,"gmtModify":1676530116048,"author":{"id":"3579819379691301","authorId":"3579819379691301","name":"Jacqueslim","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579819379691301","authorIdStr":"3579819379691301"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835488035","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835402402,"gmtCreate":1629729831806,"gmtModify":1676530115105,"author":{"id":"3574381076586256","authorId":"3574381076586256","name":"KYHBKO","avatar":"https://static.tigerbbs.com/c3bcbc7f9a10836dea92afc94bf39b5b","vip":2,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3574381076586256","authorIdStr":"3574381076586256"},"htmlText":"let us monitor the other parts of the supply chain too. getting the chips is only the first part.&nbsp;","listText":"let us monitor the other parts of the supply chain too. getting the chips is only the first part.&nbsp;","text":"let us monitor the other parts of the supply chain too. getting the chips is only the first part.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835402402","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5623855,"gmtCreate":1629731867566,"gmtModify":1663232804847,"authorId":3579819379691301,"author":{"id":3579819379691301,"idStr":"3579819379691301","authorId":3579819379691301,"name":"Jacqueslim","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835402402,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"EN"},{"id":835221663,"gmtCreate":1629722102952,"gmtModify":1676530110994,"author":{"id":"3586898051180640","authorId":"3586898051180640","name":"plain_paper","avatar":"https://static.tigerbbs.com/c12c15cb7f5aae068da5dd6a62e59a75","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3586898051180640","authorIdStr":"3586898051180640"},"htmlText":"I don't see the rush to buy $tsm$ though. A bit disappointing.","listText":"I don't see the rush to buy $tsm$ though. A bit disappointing.","text":"I don't see the rush to buy $tsm$ though. A bit disappointing.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/835221663","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5624765,"gmtCreate":1629739993286,"gmtModify":1663232808333,"authorId":3586898051180640,"author":{"id":3586898051180640,"idStr":"3586898051180640","authorId":3586898051180640,"name":"plain_paper","avatar":"https://static.tigerbbs.com/c12c15cb7f5aae068da5dd6a62e59a75","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835221663,"type":1,"supId":5621948,"prevId":0,"content":"I guess the story will fall apart if China companies are allowed to buy tsm chips again.&nbsp; at this stage I am happy with 10%","text":"I guess the story will fall apart if China companies are allowed to buy tsm chips again.&nbsp; at this stage I am happy with 10%","html":"I guess the story will fall apart if China companies are allowed to buy tsm chips again.&nbsp; at this stage I am happy with 10%"},{"id":5622121,"gmtCreate":1629724187726,"gmtModify":1663232799743,"authorId":3578917676674127,"author":{"id":3578917676674127,"idStr":"3578917676674127","authorId":3578917676674127,"name":"DJBoy","avatar":"https://static.tigerbbs.com/e89ddb65fea14052b67a417c63273930","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.76%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835221663,"type":1,"supId":0,"prevId":0,"content":"Agreed","text":"Agreed","html":"Agreed"},{"id":5622397,"gmtCreate":1629725682759,"gmtModify":1663232798447,"authorId":3566638874866921,"author":{"id":3566638874866921,"idStr":"3566638874866921","authorId":3566638874866921,"name":"Syin23","avatar":"https://static.tigerbbs.com/5fe07bbe04f288a17e760d8b275d427f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835221663,"type":1,"supId":5621948,"prevId":0,"content":"So bullish, maybe got vested interest. <u>LOL</u>","text":"So bullish, maybe got vested interest. <u>LOL</u>","html":"So bullish, maybe got vested interest. <u>LOL</u>"},{"id":5621948,"gmtCreate":1629723170148,"gmtModify":1663232794668,"authorId":3586655655659820,"author":{"id":3586655655659820,"idStr":"3586655655659820","authorId":3586655655659820,"name":"sunshine138","avatar":"https://static.tigerbbs.com/23149c63a63bfeec1572cc27e1322750","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835221663,"type":1,"supId":0,"prevId":0,"content":"33% tsm upside..... The writer serious?","text":"33% tsm upside..... The writer serious?","html":"33% tsm upside..... The writer serious?"}],"langContent":"EN"},{"id":835229561,"gmtCreate":1629722021853,"gmtModify":1676530110956,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"htmlText":"NVDA, let’s go?","listText":"NVDA, let’s go?","text":"NVDA, let’s go?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835229561","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5622118,"gmtCreate":1629724179453,"gmtModify":1663232797356,"authorId":3578917676674127,"author":{"id":3578917676674127,"idStr":"3578917676674127","authorId":3578917676674127,"name":"DJBoy","avatar":"https://static.tigerbbs.com/e89ddb65fea14052b67a417c63273930","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.76%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835229561,"type":1,"supId":0,"prevId":0,"content":"To the mooon","text":"To the mooon","html":"To the mooon"}],"langContent":"EN"},{"id":835261938,"gmtCreate":1629721401124,"gmtModify":1676530110762,"author":{"id":"3575091428590185","authorId":"3575091428590185","name":"HENRYCSC","avatar":"https://static.tigerbbs.com/6d47a6dec25b21dc547a5b982674c499","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575091428590185","authorIdStr":"3575091428590185"},"htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835261938","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835287215,"gmtCreate":1629721028137,"gmtModify":1676530110683,"author":{"id":"3570935210066750","authorId":"3570935210066750","name":"j______1","avatar":"https://static.tigerbbs.com/901391d7dba6a346da50b402e9e61fed","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3570935210066750","authorIdStr":"3570935210066750"},"htmlText":"$TSM $AMD","listText":"$TSM $AMD","text":"$TSM $AMD","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835287215","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835288116,"gmtCreate":1629720649135,"gmtModify":1676530110545,"author":{"id":"3584767133176281","authorId":"3584767133176281","name":"Hinhin888","avatar":"https://static.tigerbbs.com/09d0b49a63a181286f2206deb0f5083b","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0,"idStr":"3584767133176281","authorIdStr":"3584767133176281"},"htmlText":"TSM faster up up up","listText":"TSM faster up up up","text":"TSM faster up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/835288116","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5630991,"gmtCreate":1629787624769,"gmtModify":1663232836036,"authorId":3554640535164305,"author":{"id":3554640535164305,"idStr":"3554640535164305","authorId":3554640535164305,"name":"chiapopo","avatar":"https://static.tigerbbs.com/2957ce010338093c9faf4ac1d533b533","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835288116,"type":1,"supId":0,"prevId":0,"content":"Time to hoot9e??","text":"Time to hoot9e??","html":"Time to hoot9e??"},{"id":5625490,"gmtCreate":1629757660221,"gmtModify":1663232809063,"authorId":3571957575491723,"author":{"id":3571957575491723,"idStr":"3571957575491723","authorId":3571957575491723,"name":"Nibatry","avatar":"https://static.tigerbbs.com/e5d7ae5d90c54730a52a5f03263a015c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835288116,"type":1,"supId":0,"prevId":0,"content":"wow ? ?","text":"wow ? ?","html":"wow ? ?"},{"id":5624160,"gmtCreate":1629733582036,"gmtModify":1663232805251,"authorId":3581999757617380,"author":{"id":3581999757617380,"idStr":"3581999757617380","authorId":3581999757617380,"name":"VT6828","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835288116,"type":1,"supId":0,"prevId":0,"content":"[微笑]","text":"[微笑]","html":"[微笑]"}],"langContent":"EN"},{"id":835294338,"gmtCreate":1629718723724,"gmtModify":1676530109873,"author":{"id":"3577671777664239","authorId":"3577671777664239","name":"invest0707","avatar":"https://static.tigerbbs.com/ab13ad9c3013d7006efa320cc22a104d","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3577671777664239","authorIdStr":"3577671777664239"},"htmlText":"Intel, AMD, TSM","listText":"Intel, AMD, TSM","text":"Intel, AMD, TSM","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835294338","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5621087,"gmtCreate":1629718750264,"gmtModify":1663232792758,"authorId":3577530901336464,"author":{"id":3577530901336464,"idStr":"3577530901336464","authorId":3577530901336464,"name":"dt1","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835294338,"type":1,"supId":0,"prevId":0,"content":"[微笑]","text":"[微笑]","html":"[微笑]"}],"langContent":"EN"},{"id":835295176,"gmtCreate":1629718654495,"gmtModify":1676530109850,"author":{"id":"3577530901336464","authorId":"3577530901336464","name":"dt1","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3577530901336464","authorIdStr":"3577530901336464"},"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835295176","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":835298463,"gmtCreate":1629718383652,"gmtModify":1676530109727,"author":{"id":"3561436465282078","authorId":"3561436465282078","name":"百忍Byron","avatar":"https://static.tigerbbs.com/e5f42d83174a08f936555b91b01acb3c","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3561436465282078","authorIdStr":"3561436465282078"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835298463","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835674415,"gmtCreate":1629716817637,"gmtModify":1676530109331,"author":{"id":"3582027541090829","authorId":"3582027541090829","name":"Kawakun","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582027541090829","authorIdStr":"3582027541090829"},"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835674415","repostId":1111103954,"repostType":2,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5620970,"gmtCreate":1629717998440,"gmtModify":1663232794552,"authorId":3584790043361762,"author":{"id":3584790043361762,"idStr":"3584790043361762","authorId":3584790043361762,"name":"Dragon77","avatar":"https://static.tigerbbs.com/d9b0b2898d9b2aece5490fa86fd5bd6f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835674415,"type":1,"supId":0,"prevId":0,"content":"Great","text":"Great","html":"Great"}],"langContent":"EN"},{"id":835395196,"gmtCreate":1629686583715,"gmtModify":1676530099033,"author":{"id":"3579588834516990","authorId":"3579588834516990","name":"lee12","avatar":"https://static.tigerbbs.com/12361a2024c0ae8c8d97fd2339a79201","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579588834516990","authorIdStr":"3579588834516990"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835395196","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835392442,"gmtCreate":1629686555786,"gmtModify":1676530099024,"author":{"id":"3579588834516990","authorId":"3579588834516990","name":"lee12","avatar":"https://static.tigerbbs.com/12361a2024c0ae8c8d97fd2339a79201","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579588834516990","authorIdStr":"3579588834516990"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835392442","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835392829,"gmtCreate":1629686530961,"gmtModify":1676530099018,"author":{"id":"3579588834516990","authorId":"3579588834516990","name":"lee12","avatar":"https://static.tigerbbs.com/12361a2024c0ae8c8d97fd2339a79201","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579588834516990","authorIdStr":"3579588834516990"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835392829","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835396690,"gmtCreate":1629686513910,"gmtModify":1676530099003,"author":{"id":"3579588834516990","authorId":"3579588834516990","name":"lee12","avatar":"https://static.tigerbbs.com/12361a2024c0ae8c8d97fd2339a79201","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579588834516990","authorIdStr":"3579588834516990"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835396690","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835396368,"gmtCreate":1629686490654,"gmtModify":1676530098995,"author":{"id":"3579588834516990","authorId":"3579588834516990","name":"lee12","avatar":"https://static.tigerbbs.com/12361a2024c0ae8c8d97fd2339a79201","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579588834516990","authorIdStr":"3579588834516990"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835396368","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835049128,"gmtCreate":1629682146864,"gmtModify":1676530095850,"author":{"id":"4091674547333280","authorId":"4091674547333280","name":"meowmeow88","avatar":"https://static.tigerbbs.com/b9e0c95f88993b5f06fcd816677a1a2f","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"4091674547333280","authorIdStr":"4091674547333280"},"htmlText":"Main gist is shortage which will be eventually be met. Think toilet paper, masks and gloves last year vs. this year.&nbsp;Make a quick buck now!","listText":"Main gist is shortage which will be eventually be met. Think toilet paper, masks and gloves last year vs. this year.&nbsp;Make a quick buck now!","text":"Main gist is shortage which will be eventually be met. Think toilet paper, masks and gloves last year vs. this year. Make a quick buck now!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/835049128","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5653512,"gmtCreate":1629957099895,"gmtModify":1663232932053,"authorId":3576491127300046,"author":{"id":3576491127300046,"idStr":"3576491127300046","authorId":3576491127300046,"name":"Johnjohnn","avatar":"https://static.tigerbbs.com/4915eff6e74b30b32df99de166e08340","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":4091674547333280,"repliedAuthor":{"id":4091674547333280,"idStr":"4091674547333280","authorId":4091674547333280,"name":"meowmeow88","avatar":"https://static.tigerbbs.com/b9e0c95f88993b5f06fcd816677a1a2f","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":835049128,"type":1,"supId":5615217,"prevId":5631203,"content":"Haha","text":"Haha","html":"Haha"},{"id":5631203,"gmtCreate":1629790009859,"gmtModify":1663232835025,"authorId":4091674547333280,"author":{"id":4091674547333280,"idStr":"4091674547333280","authorId":4091674547333280,"name":"meowmeow88","avatar":"https://static.tigerbbs.com/b9e0c95f88993b5f06fcd816677a1a2f","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835049128,"type":1,"supId":5615217,"prevId":0,"content":"wish i knew","text":"wish i knew","html":"wish i knew"},{"id":5615217,"gmtCreate":1629682344504,"gmtModify":1663232766628,"authorId":3576491127300046,"author":{"id":3576491127300046,"idStr":"3576491127300046","authorId":3576491127300046,"name":"Johnjohnn","avatar":"https://static.tigerbbs.com/4915eff6e74b30b32df99de166e08340","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835049128,"type":1,"supId":0,"prevId":0,"content":"Sell intel?","text":"Sell intel?","html":"Sell intel?"}],"langContent":"EN"},{"id":835018196,"gmtCreate":1629680836015,"gmtModify":1676530094793,"author":{"id":"3563577781679506","authorId":"3563577781679506","name":"Samuel.L","avatar":"https://static.tigerbbs.com/1186b61f5b04203ae75a2949bd647713","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3563577781679506","authorIdStr":"3563577781679506"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835018196","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835000934,"gmtCreate":1629679912728,"gmtModify":1676530093786,"author":{"id":"3555237785078725","authorId":"3555237785078725","name":"许哲东","avatar":"https://static.tigerbbs.com/9061503cb3d4f9ac3d7d9de3f72b29ab","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":1,"idStr":"3555237785078725","authorIdStr":"3555237785078725"},"htmlText":"Local manufacturing?in term of Labor costs, northeast Asia will be more cheaper than US..","listText":"Local manufacturing?in term of Labor costs, northeast Asia will be more cheaper than US..","text":"Local manufacturing?in term of Labor costs, northeast Asia will be more cheaper than US..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835000934","repostId":1111103954,"repostType":4,"repost":{"id":"1111103954","pubTimestamp":1629675616,"share":"https://ttm.financial/m/news/1111103954?lang=&edition=fundamental","pubTime":"2021-08-23 07:40","market":"us","language":"en","title":"The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111103954","media":"Barrons","summary":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the worl","content":"<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.</p>\n<p>Back then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.</p>\n<p>The spike was good news for <a href=\"https://laohu8.com/S/CVX\">Chevron</a> and <a href=\"https://laohu8.com/S/XOM\">Exxon Mobil</a>, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&amp;P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.</p>\n<p>If oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.</p>\n<p>Roughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.</p>\n<p>“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.</p>\n<p>The global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by <a href=\"https://laohu8.com/S/TM\">Toyota</a>&nbsp;this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.</p>\n<p>Part of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.</p>\n<p>The result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.</p>\n<p>That’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. <a href=\"https://laohu8.com/S/F\">Ford</a> and <a href=\"https://laohu8.com/S/GM\">General Motors</a> shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.</p>\n<p>And that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as <a href=\"https://laohu8.com/S/INTC\">Intel</a> and <a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a>. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.</p>\n<p>Don’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Looks Like the Oil Shortage of the 1970s. What It Means for Stocks and the Economy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 07:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","TSM":"台积电","CVX":"雪佛龙","INTC":"英特尔","XOM":"埃克森美孚","AMD":"美国超微公司"},"source_url":"https://www.barrons.com/articles/chip-shortage-stocks-economy-51629507891?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111103954","content_text":"Semiconductors might be the new oil—and that could make the 2020s the new 1970s.\nBack then, the world ran on oil—and any change in supply had a massive impact on demand. When OPEC embargoed the U.S. in the 1970s, the price of crude rose from about $3 a barrel at the beginning of the decade to $13 a barrel by its end. The U.S. even issued gas ration coupons in 1974.\nThe spike was good news for Chevron and Exxon Mobil, which returned roughly 100% and 70%, respectively, in the 1970s, but painful for everyone else, as inflation raged. The S&P 500 and Dow Jones Industrial Average rose just 17% and 5%, respectively, over the decade.\nIf oil was the necessary component for the 1970s economy, chips provide the same function in the 2020s. They power everything from our computers and phones to our cars and appliances. And, as everyone knows by now, there is a shortage, with delivery times growing to more than 20 weeks, per Susquehanna Financial Group data.\nRoughly 80% of all the chips in the world are made in Northeast Asia. Politicians realize how big a problem this is, and they have started to demand local manufacturing, with President Joe Biden introducing a plan for $50 billion in chip research earlier this year. Reshoring any industry, including semiconductors, is a yearslong process that requires billions in capital. There will be winners and losers. And if it goes on too long, it will filter into the prices of all kinds of goods.\n“Shortages related to rapid upswings in demand could become inflationary,” TS Lombard’s Rory Green and Steven Blitz wrote back in January, when the scarcity of chips—”a product more known for steadily declining prices”—was in its infancy.\nThe global semiconductor shortage has been a particular thorn in the side of the automotive industry all year. It was supposed to resolve itself by the second half of 2021. But more production cuts announced by Toyota this past week shows the problem isn’t going away soon. In fact, RBC analyst Joseph Spak argues the shortage could last for years.\nPart of the problem is structural, Spak says. Electric vehicles need more computing power, but the auto industry typically relies on older-generation chip technology, where capacity isn’t being as readily added by chip makers. Instead, they prefer to focus on newer, higher-end chips for the consumer electronics industry.\nThe result: Instead of lines at the gas stations, there are lines at the automotive dealerships. Low new- and used-car inventories have pushed up pricing and contributed to rising inflation. Used-car prices rose about 20% in the first half of 2021, while new-car prices rose about 3%. The rise in used-car prices has started to slow, but new-car price gains are accelerating, rising about 7% year over year in July.\nThat’s not good for consumers, but auto makers stand to benefit. Constrained production will lead to persistently low inventories and higher pricing. Companies will sell fewer cars, but that’s been offset by higher prices. Ford and General Motors shares are up 43% and 17%, respectively, in 2021, and both still trade for about seven times 2022 earnings.\nAnd that’s just the auto industry. The longer the chip shortage goes on, the more prices will rise in all types of products. That will benefit chip makers such as Intel and Taiwan Semiconductor Manufacturing. Wall Street sees upside in the latter. Some two-thirds of analysts covering the stock rate it Buy, and the average price target implies about a 33% upside.\nDon’t expect long lines outside RadioShack, but expect the chip shortage to be felt just the same.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5614614,"gmtCreate":1629680852242,"gmtModify":1663232763769,"authorId":3563577781679506,"author":{"id":3563577781679506,"idStr":"3563577781679506","authorId":3563577781679506,"name":"Samuel.L","avatar":"https://static.tigerbbs.com/1186b61f5b04203ae75a2949bd647713","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835000934,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":286,"commentSize":66,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}