Analog and Power Majors Fire Their Second Hike of the Year This Week: ST on June 28, TI and Infineon on July 1 — What Spot Buyers Pull and What Windows They Hold

Pin the dates first. ST's customer letter says June 28. Infineon, TI and NXP sit on July 1. The deals you're still negotiating this week settle into a different price sheet after the weekend.

What makes this round different from the last is the cadence, not the number. April could be filed as a routine annual adjustment. This is the same set of vendors moving a second time inside one quarter — ST, Infineon and TI all explicitly call it their second 2026 increase. The second move carries more signal than the percentage: the makers read demand as firm enough to raise twice, and they're sweeping in the part numbers the first round skipped.

Which parts take the hit first, in order of how much they matter:

• PMICs and MOSFETs — exactly what TI named. These are the high-volume general-purpose power parts in AI server boards, power supplies and industrial rails. Everyone has a fistful on the BOM.
• Power switches and power ICs — Infineon's reported increases run hardest here, parts of it up to 25%. EV, automotive and energy-storage feel it first.
• General-purpose analog — ST is adding "parts not covered last time," meaning the sweep is more complete. Don't assume some low-runner slips through.
• Domestic Chinese power — MacMic +10% on IGBTs, JieJie +10%–20% on MOSFETs/IGBTs. When the majors move, the alternates don't hold still, and the price gap is narrower than you'd guess.

There's a lag between a maker's announcement and what you see on the spot side. Distributors absorb the new sheet against in-transit and booked-not-shipped orders first; real spot quotes usually shift two to three weeks later. That gap is the window. If you're holding stock bought at the old level, don't dump it — wait for the channel sheet to turn over, and the spread widens on its own. If you're chasing a shortage, lock the urgent lines before June 28 and July 1 rather than dragging into next week.

Concrete moves for people working orders:

First, flag every ST, Infineon, TI and NXP line on the BOM — PMICs and MOSFETs above all — and ask the distributor whether this batch ships at the old or new price. One question — "what's the price on orders before versus after July 1" — saves a lot of back-and-forth later.

Second, if you're sitting on old-price stock from these four, keep the fresher-DC pieces for matching rather than clearing them as dead stock. With the makers up two rounds, old-DC, old-price spot only gets more valuable over the next quarter.

Third, don't judge the alternates on headline price alone. Majors up 5%–15%, domestic alternates up 10%–20% — on some part numbers the gap actually shrinks after both move. Re-run the math; don't decide off a spread table from three months ago.

Fourth, read the NCNR and allocation terms carefully this round. In a second-hike environment, makers and distributors lean on non-cancellable orders and tighter allocation. Think through your exit before you take that kind of order, or a "locked price" pins you to a high level.

Step back one level. What's worth remembering from this round isn't the 5%–15%. It's the rhythm — same vendors, same quarter, second time. It says AI has genuinely moved pricing power in power and analog from the buyer to the seller. For spot, the old "wait and see if it drops" reflex doesn't hold on the power line for these two quarters. Lock what you can, hold what you can. Cadence beats price.