[Memory Chips]
1. Nanya Technology launches large-scale DRAM capacity expansion
It raised its 2026 capital expenditure to NT$69.7 billion. From 2026 to 2029, it will invest up to NT$346.6 billion to build a new 5A fab, which will adopt EUV equipment to mass-produce 10-nanometer-class DRAM. The new fab will start production in the second half of 2027 and reach a monthly capacity of 35,900 wafers by 2029, targeting demand from AI servers. However, collective global capacity expansion may lead to oversupply pressure after 2027.
2. DRAM shortage triggers cascading impact on Apple’s new products
Apple’s A20 Pro (2nm) processor manufactured by TSMC has been held up at the WMCM packaging stage due to DRAM shortages, dragging down the inventory preparation of iPhone 18. Apple’s memory chips are mainly supplied by Micron, SK Hynix and Samsung. Nevertheless, higher priority is given to high-performance computing (HPC) demand, so the revenue impact of this shortage on TSMC is manageable.
3. CXMT achieves all-round breakthrough in domestic substitution
It rejected Apple’s request for low-price procurement. Its production capacity has been locked in long-term orders from major domestic enterprises: ByteDance placed a 5-year order worth US$7 billion, Tencent ordered server storage worth 20 billion New Taiwan Dollars, and Huawei and Xiaomi purchased mobile DRAM products. Backlogs extend all the way to 2027, with quotations matching or even exceeding those of South Korean manufacturers.
4. NOR Flash price hike cycle continues
Winbond Electronics posted record-high Q2 revenue driven by the upward DRAM cycle. The industry forecasts that the shortage and price surge of NOR Flash from Winbond and Macronix will last through the third quarter.
[MLCC Passive Components]
The sector features a polarized structural supply-demand landscape:
1. High-capacity MLCC for high-end automotive and AI server applications: Extremely tight supply
High-temperature-resistant automotive-grade and AI-server-specific models such as 22μF and 47μF are out of stock, with distributors prioritizing supply for key major clients. A single AI server consumes 3,000 to 4,000 MLCCs, twice the volume used by conventional servers. Computing devices keep occupying high-end production capacity.
2. Low-end consumer-grade standard MLCC: Oversupplied
General consumer-grade components including 1μF and 10μF MLCCs have abundant inventories, and domestic manufacturers have launched price discounts to destock.
1. Nanya Technology launches large-scale DRAM capacity expansion
It raised its 2026 capital expenditure to NT$69.7 billion. From 2026 to 2029, it will invest up to NT$346.6 billion to build a new 5A fab, which will adopt EUV equipment to mass-produce 10-nanometer-class DRAM. The new fab will start production in the second half of 2027 and reach a monthly capacity of 35,900 wafers by 2029, targeting demand from AI servers. However, collective global capacity expansion may lead to oversupply pressure after 2027.
2. DRAM shortage triggers cascading impact on Apple’s new products
Apple’s A20 Pro (2nm) processor manufactured by TSMC has been held up at the WMCM packaging stage due to DRAM shortages, dragging down the inventory preparation of iPhone 18. Apple’s memory chips are mainly supplied by Micron, SK Hynix and Samsung. Nevertheless, higher priority is given to high-performance computing (HPC) demand, so the revenue impact of this shortage on TSMC is manageable.
3. CXMT achieves all-round breakthrough in domestic substitution
It rejected Apple’s request for low-price procurement. Its production capacity has been locked in long-term orders from major domestic enterprises: ByteDance placed a 5-year order worth US$7 billion, Tencent ordered server storage worth 20 billion New Taiwan Dollars, and Huawei and Xiaomi purchased mobile DRAM products. Backlogs extend all the way to 2027, with quotations matching or even exceeding those of South Korean manufacturers.
4. NOR Flash price hike cycle continues
Winbond Electronics posted record-high Q2 revenue driven by the upward DRAM cycle. The industry forecasts that the shortage and price surge of NOR Flash from Winbond and Macronix will last through the third quarter.
[MLCC Passive Components]
The sector features a polarized structural supply-demand landscape:
1. High-capacity MLCC for high-end automotive and AI server applications: Extremely tight supply
High-temperature-resistant automotive-grade and AI-server-specific models such as 22μF and 47μF are out of stock, with distributors prioritizing supply for key major clients. A single AI server consumes 3,000 to 4,000 MLCCs, twice the volume used by conventional servers. Computing devices keep occupying high-end production capacity.
2. Low-end consumer-grade standard MLCC: Oversupplied
General consumer-grade components including 1μF and 10μF MLCCs have abundant inventories, and domestic manufacturers have launched price discounts to destock.