Top chipmaker TSMC notched a new quarterly sales record at the end of 2021 boosted by continued demand from top clients including Apple and Qualcomm for semiconductors.

The Taiwanese foundry, which manufacturers chips for other companies, reported December revenue of 155.38 billion new Taiwan dollars (about $5.6 billion) — a record number for a single month, and up 4.8% from November.

For the fourth quarter, revenue totaled 438.18 billion new Taiwan dollars. That’s the sixth straight quarterly sales record TSMC has recorded.

Demand for semiconductors, which are key for everything from smartphones to cars, continues to rise even as a shortage of chips has hit several industries.

Last year, the Nikkei reported that TSMC was planning to hike prices amid strong demand and lack of supply.

Investment bank China Renaissance said in a note this month that is expects TSMC’s financials “to start reflecting foundry price hike benefits, which its other peers enjoyed immensely last year.”

China Renaissance lifted its sales expectations for 2022, now expecting 23% year-on-year revenue growth that’s driven mainly by higher average selling prices of its products.

Shares of TSMC listed in Taiwan were 1.42% higher on Monday.

Reprinted from CNBC. Copyright and all rights therein are retained by authors.

Apple chipmaker TSMC notches another quarterly sales record on strong demand