Benzinga | May 3, 2021 01:29PM EDT

Intel, TSM Anticipate Semiconductor Crisis To Extend Beyond 2021: Bloomberg

* Intel Corp (NASDAQ: INTC) CEO Pat Gelsinger expects the pandemic-induced home gadget-led global semiconductor chip crisis for the different industries to extend for several years, Bloomberg reports.

* The company was reworking some of its factories to drive production and counter the chip crisis for the auto industry.

* The supply chain might take several months to ease down, according to Gelsinger.

* Global companies expect the supply chain disruption and chip crisis to extend for a major part of 2021.

* Gelsinger emphasized the U.S.'s global falling semiconductor manufacturing position, which declined from 37% to 12% in twenty-five years. Intel's high-end, cutting-edge chip manufacturing added to the dismay.

* Gelsinger also emphasized U.S. manufacturing to drive U.S. jobs and long-term technology control to resolve supply chain constraints.

* Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) Chair Mark Liu expects to cater to the minimum customer requirement by June end.

* TSM reportedly tried to generate the most possible chips for car companies after hearing about the crisis last year.

* Liu expects the crisis to intensify by 2021 end or early 2022.

* Liu said the crisis would continue due to the pandemic irrespective of the production location, in justification of the Asian suppliers accounting for 75% of semiconductor chip manufacturing.

* Price action: INTC shares traded lower by 0.78% at $57.08, and TSM shares traded lower by 0.72% at $115.89 on the last check Monday.