PC visibility extending to 2H21; server growth on-track. We hosted nine corporates at the 2021 AIC, and the comments from the supply chain suggest PC demand will likely remain strong the next few months, although shipment is capped by component constraints. In the near term, Asus and Lenovo are seeing ~20% gap on supply-demand and the visibility has further extended into 2H21, driven by robust demand from consumer and Chromebook, lower inventory in the channel, and potential recovery for commercial in 2H. For servers, we expect hyperscale demand to have recovered from late 1Q21 post inventory digestion, along with new platform roll-out, while enterprise segment is expected to remain flattish but longer-term TAM to shrink from the shift toward public cloud.