Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Tough Start to the Week -- Negative News for Nvidia and Apple Supply Chains</li>
<li>Key Events: Asustek &amp; Novatek Results; Mediatek &amp; TSMC July Sales Data</li>
<li>UMC Signals Non-AI Industry Inventory Correction Through 2024E; Why Intel Is Increasingly Important </li>
</ul>


Tough Start to the Week -- Negative News for Nvidia and Apple Supply Chains
Key Events: Asustek &amp; Novatek Results; Mediatek &amp; TSMC July Sales Data
UMC Signals Non-AI Industry Inventory Correction Through 2024E; Why Intel Is Increasingly Important 


Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

<ul>
<li>TSMC: Premium Breaks Back Down to +8.3%; 5-15% Could Now Be the Key Range</li>
<li>UMC: -2.2% Discount; Good Level to Go Long the Premium</li>
<li>ASE: Premium Breaks Down Again, Now Only +1.5%; Consider Going Long</li>
</ul>


TSMC: Premium Breaks Back Down to +8.3%; 5-15% Could Now Be the Key Range
UMC: -2.2% Discount; Good Level to Go Long the Premium
ASE: Premium Breaks Down Again, Now Only +1.5%; Consider Going Long


Taiwan Dual-Listings Monitor: TSMC and ASE Premiums Break Down Again; ASE Spread Near 1-Year Lows

<ul>
<li>TSMC: Crashed Then Rebounded to +15.1% Premium; Likely to Break Down Again</li>
<li>UMC: -0.2% Discount; Earnings Imminent; Notable Decrease in ADR Headroom</li>
<li>ASE: Rebounded to +9.2 Premium After Major Breakdown; Likely to Drop Again</li>
</ul>


TSMC: Crashed Then Rebounded to +15.1% Premium; Likely to Break Down Again
UMC: -0.2% Discount; Earnings Imminent; Notable Decrease in ADR Headroom
ASE: Rebounded to +9.2 Premium After Major Breakdown; Likely to Drop Again


Taiwan Dual-Listings Monitor: TSMC and ASE Premium Trading Range Blow-Outs During Recent Sell-Off

<ul>
<li>TSMC: +17.9% Premium; Rebounds After Brief Breakdown; Wait for Better Levels</li>
<li>UMC: +1.8% Premium; Can Consider Shorting the Premium at Current Level</li>
<li>ASE: +5.5% Premium Represents a Major Breakdown; Can Consider Going Long</li>
</ul>


TSMC: +17.9% Premium; Rebounds After Brief Breakdown; Wait for Better Levels
UMC: +1.8% Premium; Can Consider Shorting the Premium at Current Level
ASE: +5.5% Premium Represents a Major Breakdown; Can Consider Going Long


Taiwan Dual-Listings Monitor: TSMC Rebounds After Sharp Breakdown; ASE Major Premium Breakdown

<ul>
<li>TSMC: +15.1% Premium; Will It Break Down to Lower Past Trading Levels?</li>
<li>UMC: +2.4% Premium; Can Consider Shorting This Historically High Level</li>
<li>ChipMOS: -3.1% Discount; Long The Spread Given Historically Extreme Discount</li>
</ul>


TSMC: +15.1% Premium; Will It Break Down to Lower Past Trading Levels?
UMC: +2.4% Premium; Can Consider Shorting This Historically High Level
ChipMOS: -3.1% Discount; Long The Spread Given Historically Extreme Discount


Taiwan Dual-Listings Monitor: TSMC Spread on Brink of Falling to Past Levels; UMC Extreme Premium

Taiwan

ChipMOS TECHNOLOGIES INC. offers semiconductor testing and packaging solutions to companies, integrated device manufacturers, and foundries. The Company provides a broad range of back-end testing services for high density memory, mixed-signal and liquid crystal display.

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Chipmos Technologies (8150 TT)

Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

Nvidia and Apple negative news sets the Taiwan Tech universe off to a tough start of the week. This week look for Asustek, Novatek, Himax results...

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC and ASE Premiums Break Down Again; ASE Spread Near 1-Year Lows

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC and ASE Premium Trading Range Blow-Outs During Recent Sell-Off

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC Rebounds After Sharp Breakdown; ASE Major Premium Breakdown

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC Spread on Brink of Falling to Past Levels; UMC Extreme Premium

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

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