Chipmaker TSMC posted a new quarterly sales record at the end of 2021 driven by higher demand from major clients including Apple, according to a report by CNBC on Monday.

  • The Taiwanese foundry, which makes chips for other firms, posted a December revenue of 155.38 billion new Taiwan dollars (nearly $5.6B), a record number for a single month, and an increase of 4.8% from November.
  • For Q4, revenue amounted to 438.18 billion new Taiwan dollars. That’s the 6th consecutive quarterly sales record TSMC has posted.
  • Demand for semiconductors, a key element for making everything from smartphones to cars, continues to increase even as the shortage of chips has hampered various industries.
  • Last year, Nikkei posted that TSMC was considering increasing prices amid strong demand and lack of supply.
  • Investment bank China Renaissance stated that it expects TSMC’s financials to start reflecting the benefits of price hikes enjoyed by other peers last year.

China Renaissance upgraded its sales expectations for 2022, now projecting 23% year-on-year revenue growth, largely driven by the higher average selling price of its products. TSMC up +1.42%