AI Demand Fuels High-End MLCC Demand, Japanese and Korean Manufacturers See Record High Book-to-Book (BB) Ratios, Supply Shortage Risk Rises in Second Half of the Year   July 17, 2026 — A recent TrendForce report shows that upgrades to AI server platforms and the continued ramp-up of CSP's self-developed ASICs are rapidly driving demand for high-end MLCCs. As of late June, the BB ratios of Murata, Samsung Electro-Mechanics, and Taiyo Yuden, the three leading Japanese and Korean manufacturers, rose to 1.30, 1.31, and 1.25 respectively, reaching new highs since the pandemic, while the overall industry BB ratio climbed to 1.04.   Murata's Q1 financial report is particularly noteworthy: its order backlog ratio reached 1.27, exceeding the peak of 1.25 at the beginning of the most severe MLCC shortage in 2018, indicating that backlogged orders are accumulating rapidly and the risk of supply shortages is intensifying.   Demand shows a significant divergence between hot and cold markets. According to TrendForce, the US CPI rose 4.2% year-on-year in May, with high interest rates continuing to suppress consumer purchasing power, putting pressure on demand for smartphones and laptops. Intel and AMD are also prioritizing CPU production capacity for AI applications, squeezing traditional PC supply and forcing ODMs to shift to rush orders, further driving up material costs. In stark contrast, mass production of AI custom accelerator platforms such as Google TPU, AWS Trainium, and Meta MTIA is ramping up, continuously driving up demand for high-capacitance, low-voltage, and miniaturized MLCCs.   The supply-side squeeze has spread to the automotive and consumer electronics sectors. Apple's supply chain started stockpiling one to two months earlier than usual, and automotive ODMs have also shifted their procurement schedule from July to May, reflecting widespread market concerns about a supply gap in the second half of the year. In the Chinese market, distributors have raised prices for mainstream consumer-grade X5R MLCCs since June, with an average increase of 15%–25%, further exacerbating market tensions.   Taiwanese and mainland Chinese manufacturers are seeing a surge in orders from overseas markets. With Japanese and Korean manufacturers continuing to prioritize orders for high-end AI MLCCs, TrendForce predicts that Yageo, Walsin Technology, and Microcapacitor will benefit from the spillover demand for mid-to-high capacitance consumer-grade X5R MLCCs in Q3.   Looking ahead to the second half of the year, Q4 may be a key turning point. Starting in Q3, NVIDIA, Google, and AMD's next-generation AI platforms will enter mass production, and capacity utilization is expected to remain highly concentrated on AI orders. Coupled with customers stockpiling inventory, lead times for high-end MLCCs are expected to extend, and prices may rise further. TrendForce believes that Q4 will be a crucial period for determining whether the high-end ML...

AI Infrastructure and Capacity Squeeze Fuel Ongoing Memory Supercycle: Q3 2026 DRAM and NAND Market Update Date: July 10, 2026 The global memory and storage markets continue to navigate an unprecedented "supercycle" in Q3 2026. Relentless artificial intelligence (AI) infrastructure demands are severely squeezing conventional supply, driving data center contract prices upward while forcing a sharp structural divide with the consumer retail market. The AI-Driven Supply Crunch Top-tier chipmakers—including Samsung, SK Hynix, and Micron—are aggressively reallocating production lines to high-margin AI components: · DRAM & HBM Realignment: Expanding High-Bandwidth Memory (HBM3e/HBM4) for AI accelerators has severely constrained standard DDR5 and legacy DDR4 wafer capacity. · Enterprise SSD Dominance: AI servers require up to ten times more storage than traditional systems. Manufacturers are prioritizing massive enterprise SSDs over client-grade solutions. · Legacy DRAM Fallout: DDR4 memory faces an unexpected shortage. Taiwanese makers have quoted Q3 2026 contract prices up to 50% higher, as high-capacity enterprise SSDs require discrete legacy DRAM chips to manage random workloads. Short-Term Trajectory: Divergence in Q3 & Q4 2026 Procurement trends reveal a widening gap between white-hot enterprise demands and strained consumer budgets: · Enterprise Sector Peak: Standard server DRAM contract prices are projected to climb an additional 20% to 30%, while enterprise NAND flash costs face a 35% to 40% quarter-over-quarter (QoQ) spike. · Consumer PC Memory (DDR5): Price growth is decelerating to a modest 13% to 18% QoQ. Pushed to their absolute budget limits, global PC brands are aggressively resisting further price hikes amid weak retail laptop and desktop demand. · Client SSD Stabilization: Consumer storage contract prices will plateau with a minimal 0% to 5% increase this quarter. PC OEMs built up substantial protective inventory in early 2026 and have shifted to a conservative, wait-and-see procurement approach. Long-Term Outlook: Stabilizing at an Elevated Floor Industry intelligence from TrendForce and Omdia indicates that a return to 2023–2024 pricing lows is highly unlikely within the next 18 months: · 2026 Plateau: Prices will flatten at an elevated level toward the end of Q4 2026 rather than declining sharply. High baseline wafer manufacturing costs dictated by AI will keep consumer PCIe 5.0 2TB SSDs anchored near $380–$400, and mainstream PCIe 4.0 2TB options above $250. · Late 2027 Normalization: Meaningful supply relief is not projected until late 2027 or early 2028. This timeline depends on advanced manufacturing facilities—such as SK Hynix’s Yongin complex and Micron’s US fabs—fully coming online to introduce net-new wafer capacity. Strategic Implications for Businesses For corporate procurement, lead times for specialized memory now exceed 16 weeks. Given ongoing supply constraints, organizations must act immediately to lock in con...

Q3 Price Forecast for the Storage Industry-- Temo Technology   Hi, this is Winnie. Q3 is coming, many customers are shocked about the price increasing this week. After nearly three months of inventory digestion, the memory spot market has finally reached a turning point. Aletheia Capital projects that the average selling price of server DRAM will rise by 30% quarter-over-quarter in the third quarter of 2026. Since late June, prices across various memory spot products have steadily rebounded, with a simultaneous uptick in market inquiries and actual transaction volumes. Shortages have emerged for certain products, and a sentiment of holding back stock in anticipation of price hikes—or a reluctance to sell while waiting to see how the market evolves—has intensified significantly, marking a clear improvement in the overall market climate.   Recent spot market performance indicates that this round of price increases is not driven by a significant recovery in end-user demand, but rather reflects a renewed tightening of supply and demand dynamics.   This week, reports emerged that a domestic DRAM manufacturer had signed a long-term supply agreement with Tencent—valued at over RMB 20 billion and spanning three to five years—while Lenovo also entered into long-term partnerships with the three major international memory manufacturers (Samsung Electronics, Micron, and SK Hynix) to secure supplies in advance for its AI server and infrastructure businesses.   These developments illustrate a shift in the competitive dynamics of the industry supply chain. In the past, companies purchasing memory focused primarily on low prices; today, the priority has shifted to ensuring future availability and a continuous supply.   The proliferation of long-term procurement agreements signals that the memory industry has entered a phase defined by "capacity locking."   As the second half of the year begins, market focus has shifted to the race to secure resources. The key factor driving future market trends will no longer be short-term price fluctuations, but rather which players can be the first to lock in limited production capacity. Given the difficulty of rapidly bringing new supply to market, the memory market's upward cycle is expected to continue.   Best regards,   Winnie        

GMOG Successfully Concluded Eletrolar Show 2026 in Brazil We are delighted to announce the successful conclusion of our participation in Eletrolar Show 2026, held from June 22 to 25, 2026, at Distrito Anhembi, São Paulo, Brazil. During the exhibition, GMOG showcased our latest product solutions, including RAM Memory, SSDs, Motherboards, and Graphic Cards. We had the pleasure of meeting many distributors, retailers, system integrators, and industry partners from Brazil and across Latin America. The event provided an excellent opportunity to exchange ideas, explore new business opportunities, and strengthen existing partnerships.   We would like to extend our sincere gratitude to everyone who visited our booth and spent time with our team. Your trust, support, and valuable discussions made this exhibition a truly meaningful and successful experience for us. As we move forward, GMOG remains committed to delivering reliable products, flexible OEM/ODM services, and professional support to customers worldwide. We look forward to building stronger partnerships and creating more opportunities together in the future. Thank you for visiting us at Eletrolar Show 2026. See you at our next exhibition! KIKI LEE | TEMO Weekly Review

Celebrating Two Decades of Deep Cultivation and Embracing the Dragon Boat Festival: A Letter from [GHT] to All Partners and Customers Dear Partners and Customers: The air is filled with the fragrance of mugwort, and dragon boats race across the water. On the occasion of the Dragon Boat Festival in the Year of the Horse, all colleagues at [GHT] extend our sincerest holiday greetings to you! As a company with over twenty years of experience in electronic product manufacturing, we have deeply cultivated the three core areas of memory, SSDs, and motherboards, resonating with the industry and witnessing and participating in every technological revolution and market ups and downs. I. Market Trends: Storage "Dragon Boat" Race, Motherboard "Road" Under Pressure Looking back at the first half of 2026, the global storage and PC hardware market is experiencing an unprecedented "dragon boat race"—AI computing power demand is driving the entire industry chain forward at full speed, bringing about dramatic structural changes. Memory (DRAM): Prices remain at historically high levels. Based on September 2025, by mid-June 2026, the average price increase for DDR5 memory had reached 288%, with mainstream 32GB kits priced nearly four times the benchmark level. The DDR5 price index in the German market rebounded rapidly to 419% after a brief dip in March. Analysts predict that the average selling price of DRAM will still have room for a 30% increase in the third quarter of 2026. The pressure from AI on production capacity has not been fundamentally alleviated, and the price increase may continue into 2027. Solid State Drives (SSDs): Prices are also high. The average price of a 1TB NVMe SSD has increased by 112% compared to the benchmark. For example, a 1TB model from a certain brand cost approximately €50 in September 2025, but now costs nearly €140. More noteworthy is the dramatic change in market structure—the consumer retail SSD market has essentially shrunk, and controller chip and NAND production capacity is shifting on a large scale to OEM system supply. Motherboards: As the "backbone" of complete system assembly, the motherboard market is experiencing pressure from upstream suppliers. High prices for memory, SSDs, and graphics cards have significantly dampened consumer willingness to build new PCs. Industry data shows that in April 2026, motherboard shipments in mainland China decreased by approximately 9% month-on-month and a sharp 44% year-on-year decline, marking the largest monthly drop in recent years. Leading motherboard manufacturers are projected to see shipments plummet to 5 million units in the first half of 2026, and hover around 10 million units for the entire year, a decrease of one-third compared to the 15 million units shipped in 2025. The four major motherboard manufacturers will experience an average decline of approximately 28%. Gartner predicts that global PC shipments will decline by 10.4% in 2026 due to rising memory costs. II. Two Decade...

Celebrating Two Decades of Deep Cultivation and Embracing the Dragon Boat Festival: A Letter from [GHT] to All Partners and Customers Dear Partners and Customers: The air is filled with the fragrance of mugwort, and dragon boats race across the water. On the occasion of the Dragon Boat Festival in the Year of the Horse, all colleagues at [GHT] extend our sincerest holiday greetings to you! As a company with over twenty years of experience in electronic product manufacturing, we have deeply cultivated the three core areas of memory, SSDs, and motherboards, resonating with the industry and witnessing and participating in every technological revolution and market ups and downs. I. Market Trends: Storage "Dragon Boat" Race, Motherboard "Road" Under Pressure Looking back at the first half of 2026, the global storage and PC hardware market is experiencing an unprecedented "dragon boat race"—AI computing power demand is driving the entire industry chain forward at full speed, bringing about dramatic structural changes. Memory (DRAM): Prices remain at historically high levels. Based on September 2025, by mid-June 2026, the average price increase for DDR5 memory had reached 288%, with mainstream 32GB kits priced nearly four times the benchmark level. The DDR5 price index in the German market rebounded rapidly to 419% after a brief dip in March. Analysts predict that the average selling price of DRAM will still have room for a 30% increase in the third quarter of 2026. The pressure from AI on production capacity has not been fundamentally alleviated, and the price increase may continue into 2027. Solid State Drives (SSDs): Prices are also high. The average price of a 1TB NVMe SSD has increased by 112% compared to the benchmark. For example, a 1TB model from a certain brand cost approximately €50 in September 2025, but now costs nearly €140. More noteworthy is the dramatic change in market structure—the consumer retail SSD market has essentially shrunk, and controller chip and NAND production capacity is shifting on a large scale to OEM system supply. Motherboards: As the "backbone" of complete system assembly, the motherboard market is experiencing pressure from upstream suppliers. High prices for memory, SSDs, and graphics cards have significantly dampened consumer willingness to build new PCs. Industry data shows that in April 2026, motherboard shipments in mainland China decreased by approximately 9% month-on-month and a sharp 44% year-on-year decline, marking the largest monthly drop in recent years. Leading motherboard manufacturers are projected to see shipments plummet to 5 million units in the first half of 2026, and hover around 10 million units for the entire year, a decrease of one-third compared to the 15 million units shipped in 2025. The four major motherboard manufacturers will experience an average decline of approximately 28%. Gartner predicts that global PC shipments will decline by 10.4% in 2026 due to rising memory costs. II. Two Decade...

Global AI Expansion Triggers Historic Surge in Memory and SSD Markets Driven by the relentless expansion of global AI infrastructure, the DRAM and SSD industries are entering an unprecedented "super cycle." With tech giants and Cloud Service Providers (CSPs) aggressively hoarding supply, severe capacity shortages have sent contract and spot prices into a vertical spike.   1. Market Status (Mid-2026): Storage as "Liquid Gold" · Skyrocketing Forecasts: Goldman Sachs has revised its 2026 price growth forecasts upwards to 250%–280% for DRAM and 200%–250% for NAND flash (the core component of SSDs). · Q2 Surge: TrendForce data shows that in Q2 2026, conventional DRAM contract prices surged 58% - 63% quarter-on-quarter. NAND Flash contract prices jumped another 70% - 75% on top of doubling in the previous quarter. · Mid-Year Peak: Analysts note that average selling prices (ASP) for chips hit their first major cyclical peak around June 2026. Consumer SSD spot prices are currently hovering at historic highs with stubborn resistance to drops. · Downstream Price Hikes: Surging component costs have squeezed device makers. Hardware giants like Lenovo have finalized comprehensive price hikes across their entire PC and hardware lineups starting July 2026.     2. Key Technical Trends: Capacity and Interface Breakouts Memory (DRAM): Accelerated DDR5 Transition · HBM Domination: High-Bandwidth Memory (HBM) remains the undisputed core for AI GPU clusters, locking in its dominant position for the next 2-3 years. · The End of DDR4: Original manufacturers are aggressively shifting production lines to HBM, shrinking DDR4 supplies. This deficit is forcing mainstream platforms to accelerate their migration to high-bandwidth, low-power DDR5. · CXL Gains Traction: Compute Express Link (CXL) technology is emerging as the premier post-HBM solution, leveraging memory pooling to bypass physical hardware scaling limits. Solid-State Drives (SSD): Breaking the 245TB Barrier · Density Over 200 Terabytes: To feed data-hungry AI models, Micron launched a 122TB enterprise SSD built on its 9th-gen (G9) 3D NAND, while teasing an upcoming 245TB single-drive model that rewrites industry records. · The Dawn of PCIe 6.0: The world's first enterprise PCIe 6.0 SSD (Micron 9650) has debuted, delivering double the sequential performance of existing flagship drives to completely break data-loading bottlenecks

Storage Market Gains Attention, While SSD and Memory Prices Face Short-Term Pressure   SSD Market: Inventory Reduction Remains the Main Focus The SSD market showed a mild downward trend this week. Compared with previous years, promotional activity during the shopping season has been less aggressive. However, some brands continue to offer competitive pricing to stimulate sales and support channel partners. At present, many distributors are prioritizing inventory clearance, leading to price adjustments across several product categories. Price movements this week: l NVMe PCIe 3.0 SSDs: Most capacities declined by approximately 2%-8%, while 240GB and 2TB remained stable. l NVMe PCIe 4.0 SSDs: Most capacities declined by around 2%, except for 480GB, which remained unchanged. l SATA SSDs: Smaller capacities remained stable, while larger capacities fell by approximately 1%-3%. Overall, the SSD market is still focused on inventory optimization and improving cash flow. DRAM Market: Stable Pricing with Improved Trading Activity DRAM prices remained largely stable this week, while market trading activity showed noticeable improvement. However, the overall supply-demand balance in the DDR4 market remains largely unchanged. Current market observations include: l High-capacity DDR4 products continue to face some pricing pressure. l DDR5 demand remains relatively stable and continues to outperform DDR4. l The DRAM market is expected to remain generally stable in the short term. In the OEM memory market this week: l DDR4 pricing remained stable across most capacities, with only 16GB 2666MHz modules declining by around 1%. l DDR3 4GB modules increased by approximately 3%, while 8GB modules remained unchanged. Market Outlook Although the market is currently in a traditional seasonal slowdown, industry sentiment toward future demand recovery remains positive. In the near term, SSD suppliers are expected to continue focusing on inventory management, while the DRAM market is likely to maintain stable pricing and healthy inventory levels.