TSMC sales soar to nearly $17B in 1Q.

$TSM.US$ Company saw sales soar in the first quarter, partly due to increased average chip prices as the chip shortage continues.

TSMC said Friday it posted consolidated sales of NT$491.08 billion (nearly $17 billion US) up by 35% from the same period in 2021. Strong demand for high performance computing devices and auto electronics helped, even as the first quarter is traditionally a slow one, analysts said.

TSMC is the world’s largest contract chipmaker. TSMC produces chips used in Apple products and is expected to win orders for Apple’s own 5G modem design for the next iPhone lineup.