MCU: Supply tightness may drive prices up further

研报英文原文证据摘录

MCU: Supply tightness may drive prices up further

Update

June 21, 2026 08:00 PM GMT

Morgan Stanley Taiwan Limited+MGreater China Technology Semiconductors | Asia Daniel Yen, CFA

Pacific Equity Analyst

Daniel.Yen@morganstanley.com +886 2 2730-2863

Charlie Chan

Equity AnalystMCU: Supply tightness may Charlie.Chan@morganstanley.com +886 2 2730-1725

Morgan Stanley Asia Limited+

drive prices up further Daisy Dai, CFA

Equity Analyst

Key update: Daisy.Dai@morganstanley.com +852 2848-7310

Morgan Stanley Taiwan Limited+

• Flat spot pricing in June, both STMicro's 32-bit MCU and GigaDevice's (GD)

Tiffany Yeh

32-bit MCU spot prices were flat MoM at Rmb12.8 and to Rmb8.5, Equity Analyst

respectively. Recently, STMicro notified customers of a new round of price Tiffany.Yeh@morganstanley.com +886 2 7712-3032

Lucas Wang

adjustments effective June 28, 2026. This is the 2nd price increase this year,

Research Associate

following an earlier adjustment announced in March and implemented in Lucas.Wang@morganstanley.com +886 2 2730-2875

April. Morgan Stanley Asia Limited+

• Supply tightness may continue in 2H26. As mature node foundry suppliers Ethan Jia

allocate more capacity to AI power-related applications and bring limited Ethan.Jia@morganstanley.com +852 3963-2287

new capacity online, we expect supply to remain tight for MCU design

houses.

• End-market demand largely the same. Despite stronger demand from

distributors because of low inventory and concerns about further price hikes

in 2H26, consumer and industrial end-demand in June has largely been the

same vs. last month. Greater China Technology Semiconductors

Asia Pacific

• We expect spot prices to rise again in 2H26, but driven by tight supply Industry View Attractive

and increased foundry costs, instead of demand.