The short answer is yes if you are lucky. In worse cases it can cause your phone to die completely. The reason this happens is because the motherboard in an iphone rests in the frame along it’s right side. So when the frame flexes and bends along its length it causes the motherboard to do so as well. The problem is further compounded due to large underfilled chips such as the CPU and the nand. They can sometimes quite literally tear the pads and traces that connect them to the board creating an open circuit that causes the chip to stop working. The image below shows the broken traces on the iphone 8 plus motherboard repaired using jumper wires.

The repairs on underfilled chips are quite difficult as the board has to first be preheated and then the chip has to be pried off because even then the underfill epoxy holds then chip onto the board pretty tight. The video below demonstrates how it’s done.