Microsoft could face Xbox Series X supply shortages until April 2021, exec says
Xbox's CFO made the comments at an investment conference
Nearly a week after Microsoft launched the new Xbox Series X and S consoles in time for the holiday shopping season, the gaming unit's CFO put a damper on those looking to score one anytime soon.
"I think we’ll continue to see supply shortages as we head into the post-holiday quarter, so Microsoft’s Q3, calendar Q1," Xbox CFO Tim Stuart said at Jefferies Interactive Entertainment Virtual Conference on Monday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 430.98 | +7.52 | +1.78% |
Stuart, who joined Microsoft in 2002, added that supply and demand would start to converge outside the holiday shopping window. "We'll have supply cranking over the next, what, 4, 5, 6 months. And that's when I expect to see really that demand profile start to be met, which will be really, really great."
The Xbox Series X (Credit: Microsoft)
Microsoft launched the Xbox Series X, priced at $499, and the Series S (priced at $299) on Nov. 10 and both consoles are sold out at major retailers.
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Best Buy and Walmart have said they will have Series X consoles in stock during their Black Friday sales, but neither retailer has publicly said how many units they will have.
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Shares of Microsoft were lower on Tuesday, falling 0.56% to trade at $216.02, in line with a broader market sell-off.