GM released an impressive fourth-quarter earnings report on Tuesday. It beat analysts' expectations on earnings per share for the quarter. But it was CEO Mary Barra's comments about the ongoing chip shortage that caught Wall Street's attention.

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In a statement released alongside the automotive giant's earnings Barra said The shortage of semiconductors shutting down car factories and slowing car production. It will begin to unravel in the next few months.

“With an improving trend for semiconductors in the US and China, We expect our 2022 earnings to remain strong,” Barra said.

That's it, the chip shortage is over. And finally, we can go back and buy cars and game consoles without worrying about whether they are still in stock or not.