As computer-based technology plays a bigger role in everyday life, demand for the semiconductors that power it has steadily increased. Meeting that need is usually a smooth process, but the pandemic has disrupted it. Now, makers of everything from videogame consoles to cars are facing a shortage of microchips.
General Motors (ticker: GM) was the latest company to reveal the extent of the damage. Management told investors early Wednesday it expected a $1.5 billion to $2 billion impact this year to a measure of adjusted profit....
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