Taiwan Semiconductor rises as 6% price hikes are coming starting in January: report
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Taiwan Semiconductor (NYSE:TSM) shares rose on Wednesday as all indications are that it will raise prices roughly 6% for the majority of its manufacturing processes starting in January, according to DIGITIMES.
The news outlet, citing industry sources, noted that the world's largest chip manufacturer has yet to see any large or significant cutbacks from major clients who order chips, despite worries over a chip glut.
Last month, industry experts speculated that Taiwan Semiconductor (TSM) would raise 2023 prices between 5% and 9% for the majority of its clients.
Taiwan Semiconductor (TSM) produces chips for some of the world's largest technology companies, including Apple (AAPL), Advanced Micro Devices (AMD), Nvidia (NVDA) and more.
Taiwan Semiconductor (TSM) shares rose slightly more than 0.5% to $86.33 in premarket trading.
In addition, the news outlet noted that lead times for certain fabrication tools to create semiconductors have been extended to as long as 30 months.
Earlier in June, it was reported that Taiwan Semiconductor (TSM) would have access to the next version of ASML's (ASML) most advanced chip making tool in 2024.
The device, known as "high-NA EUV," produces a focused beam of light (in this case, extreme ultraviolet) that creates microscopic circuits on computer chips that work in devices such as phones, laptops, cars and smart speakers. 
In early June, it was reported that Taiwan Semiconductor (TSM) was looking to enhance its exposure to memory chip makers, including Micron Technology (MU).