Money
Los Angeles Port backlogged ahead of upcoming Christmas season
With ports across Los Angeles currently experiencing backlogs, due to the amount of cargo ships waiting to dock, how will this affect the upcoming Christmas shopping period?
Wedbush Securities’ Brad Gastwirth gave his thoughts from a technology point-of-view:
If you look at things right now, there are semiconductor shortages,” Gastwirth proclaims. “But we have had this logistics problem because of COVID closures at different ports.
“There have been closures domestically (in the United States) and across several of the major ports around the world.
“This has just added to the end-product delay.”
Gastiwrth notes there could be another effect on items being delivered, and on shelves.
“China could be limiting some production because of power,” he adds. “This could see less items on shelves.
“This could be good for OEMs, as they will not need to discount as much as they do.”