you have to think of it this way....
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Nothing producess water vapor.
Water vapor is always surounding us in the atmosphere. The humidity level is how saturated the air is with Vapor. It can be 'cold\dry' or 'hot\dry' or 'cold\wet' or 'hot\wet', the only difference is, that Hot air has the potential to carry more Vapor then Cold air. Vapor turns into water by condensation caused by changes in temperature.
So the Cold outlet(evap core) on the A/C is a natural Dehumidifyer. Once the air hits the Cold outlet, it condenses into water droplets on the 'evap core' and is then dripped out threw the bottom of the A/C, were ever the hole maybe for it to exaust water.
So the only thing exiting the A/C is cold/dry air. So if you have the A/C blowing into the side of your computer case. The air inside the case will be Cool/Dry, but the air outside the Case will be Warm/Wet. So if the PC Case gets colder then the outside air, Vapor can start condensing on the outside of the case, not inside.
If you have the A/C blowing on the outside of the PC Case, its the oposite. Vapor from the Air can start Condensing on the inside, not the outside.