MLCC industry leader signals capacity expansion! Executive reveals optimism about AI-driven demand, describing the current assessment as “more ambitious.” 📰 News Source:

MLCCs won't repeat 2017-18 cyclical correction: MS key insight is that incremental demand is coming from the high end of the market, where 2-3 players dominate and new players cannot easily enter due to demanding specs. Hence the "early cycle" take.

MLCCs 6981 6976 009150: MS going hard on the specks of clay this week. 40 pg report, upgrading Taiyo Yuden 6976 to hold, top picks Murata 6981 and SEMCO 009150. Key theme: MLCCs are still "early cycle" in late 2026.

MLCCs: MS raising 2026-28 industry revenue estimates by high single digits. Acceleration continues, according to METI and MoF stats released this week. Shipment value now +26%/20%/16% for 2026/27/28. Big numbers for an industry that contracted post-Covid.

MLCCs: one thing that *everyone* seems to agree on--the AI bottleneck trade is stale and played out. Nonetheless, lots of supportive color and analysis emerging from passives space over the last week and related stocks finding support in weak overall tape. Watch these divergences

MLCC spot prices are up 3-5x on scarce AI-server specs since April. Some individual models up 8-10x. Murata, Samsung Electro-Mechanics, and Taiyo Yuden all raising prices. Nearly every major MLCC manufacturer trades in Japan, South Korea, Taiwan, or China. @roundhill launched $CCML today giving US investors direct access to those names.

MLCCs: interesting discussion by MS from yday, detailing the technical constraints (e.g., low voltage, "rapid current excursions") that are forcing accelerator boards to use higher capacitance MLCCs, dominated by TY $6976; Murata $6981; SEMCO. "...total installed capacitance per accelerator and per rack is growing faster than MLCC unit count.." Having hundreds of layers, these 47+ microfarad MLCCs suck up disproportionate share of prod capacity, inevitably leading to shortages of commodity MLCCs as well (benefiting Yageo $2327). MS raised Yageo 27-28 ests by 23-53% on 1 Jun, sees another 58% upside for stock. Sector has seen some profit-taking but my sense is estimates will continue to rise.

📈 #MLCC# prices are entering an upcycle. Korea’s SEMCO has raised OEM/ODM quotes, with consumer-grade X5R prices up 25–30% and high-end X6S for AI servers up 10–20%.💡#TrendForce# on whether the hikes could go global: 🔗

✨ MLCC price rebound signals are emerging as AI chip demand tightens high-end supply and squeezes consumer-grade availability, pushing average price declines to a nearly three-year low.💡More analysis from #TrendForce#: 🔗