Benzinga | Jul 9, 2021 08:36AM EDT

TSM's June Revenue Climbs 23%

* Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) reported revenue growth of 22.8% year-on-year to NT$148.47 billion for June.

* Revenue for January through June 2021 increased 18.2%.

* TSM's pricing power following capacity tightness is likely to offset the margin pressure from the massive CapEx spending Citi analysts Roland Shu and Grant Chi stated, Bloomberg reports.

* The chipmaker's technology/productivity breakthrough in EUV is estimated to drive its technology gap with peers and ensure a better cost structure for leading-edge technology nodes.

* The U.S. was pressurizing the chipmaker over its plan to expand foundry capacity in China, Digitimes Asia reported recently.

* Price action: TSM shares traded higher by 0.37% at $118.31 in the premarket session on the last check Friday.