After returning from Shenzhen Huaqiangbei, I saw my good brother hoarding MLCC with real money. He told me that this thing is currently in short supply, and those with stock are kings, and prices are rising!

Today, when I saw that the entire internet was discussing storage, I spent a day researching MLCC🧐

I have decided that during this wave of decline📉, I will gradually increase my holdings in Murata (#MARRY), which is the absolute leader in the global AI server high-capacity MLCC market, holding a 45% market share, possessing strong pricing power. On April 1st of this year, they were the first to raise prices by 15%-35%, demonstrating absolute dominance!

Especially their flagship product, the 0402 inch ultra-thin ultra-high-capacity MLCC, which is currently a unique product globally. This extreme miniaturization perfectly fits HBM3e / HBM4 and the next generation GPU Nvidia Rubin architecture, capable of solving the high-frequency decoupling and power supply stability issues of high-power GPUs and HBM in an extremely small physical space. This should be considered a core stronghold of the high-density computing era. Currently, even the top-tier players like Samsung Electro-Mechanics and Sunlord are trying to catch up but cannot achieve mass production!

Additionally, based on the latest financial report data📊, this might be one of the few AI hardware companies I can currently consider investing in. After this drop, its forward PE is merely 22.2 times (currently it is 72 times)!

Combined with the favorable impact of the yen depreciation, it will also benefit its performance realization. Currently, with a conservative estimate at a 1:150 USD exchange rate, the full-year net profit for 26/27 is likely to reach 328 billion yen, corresponding to an EPS of about 180 yen, with the forward PE dropping significantly to 22.2 times, which is much more appealing compared to hardware companies with a hundred times PE!

Just to mention, my favorite Micron (#MU) has now seen its forward PE drop below 10 times after the decline, so if I can buy it under 800 USD, it will be very appealing!🧐

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