I think we're seeing AI server MLCC demand cause an interesting effect... with tightening capacity for consumer/general-purpose MLCCs. If you get Vietnam flashbacks like I do to $MU / Samsung / SK Hynix -> Legacy DRAM: My thesis is we'll see the same thing here maybe late H2, early 2027 with consumer/broad MLCCs. From July 6th: "the crowding-out effect from AI-oriented high-end MLCC production has begun spilling over into both the automotive and consumer markets." July 28th: "AI Demand Pushes Japanese and Korean MLCC Suppliers to Record Monthly Shipments; Consumer-Grade Order Spillovers Continue to Surge" Aug 12: As [MLCC] capacity shifts from consumer grades to AI-oriented products... (Trendforce) Aug 12: China's electronics market channel checks found 22µF and 47µF MLCCs
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