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) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Micron, Apple and AMD committed a combined US$43bn-plus to the suppliers they depend on, moving the industry from ordering capacity to financing it and shifting build risk onto the buyers.</li>
<li>Memory economics reached record levels: Samsung's operating profit rose 19x, and Nanya's gross margin hit 79.5% on flat shipments, with prices doing all the work.</li>
<li>SK Hynix raised US$26.5bn for ADRs in the largest US listing by a foreign company, and the week's selloff reversed in two sessions as money returned to memory and compute.</li>
</ul>


Micron, Apple and AMD committed a combined US$43bn-plus to the suppliers they depend on, moving the industry from ordering capacity to financing it and shifting build risk onto the buyers.
Memory economics reached record levels: Samsung's operating profit rose 19x, and Nanya's gross margin hit 79.5% on flat shipments, with prices doing all the work.
SK Hynix raised US$26.5bn for ADRs in the largest US listing by a foreign company, and the week's selloff reversed in two sessions as money returned to memory and compute.


Taiwan Tech Weekly: Micron, Apple and AMD Start Funding Their Suppliers

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 9th. The aggregated holding was USD2,219.9bn.</li>
<li>We estimate that foreign flows to be outflows of USD5,945mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Unimicron Technology, ASE Industrial, MediaTek, Alchip Technologies.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 9th. The aggregated holding was USD2,219.9bn.
We estimate that foreign flows to be outflows of USD5,945mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Unimicron Technology, ASE Industrial, MediaTek, Alchip Technologies.


TWSE Foreign Holding Weekly (Jul 9th): TSMC, Unimicron Technology, ASE Industrial, MediaTek

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 3rd. The aggregated holding was USD2,311.7bn.</li>
<li>We estimate that foreign flows to be outflows of USD5,528mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, UMC, Hon Hai Precision, Macronix Intl, Kinsus Interconnect Technology.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 3rd. The aggregated holding was USD2,311.7bn.
We estimate that foreign flows to be outflows of USD5,528mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, UMC, Hon Hai Precision, Macronix Intl, Kinsus Interconnect Technology.


TWSE Foreign Holding Weekly (Jul 3rd): TSMC, UMC, Hon Hai Precision, Macronix Intl

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 26th. The aggregated holding was USD2,204.5bn.</li>
<li>We estimate that foreign flows to be outflows of USD8,550mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Winbond Electronics, Hon Hai Precision, ASE Industrial, King Yuan Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 26th. The aggregated holding was USD2,204.5bn.
We estimate that foreign flows to be outflows of USD8,550mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Winbond Electronics, Hon Hai Precision, ASE Industrial, King Yuan Electronics.


TWSE Foreign Holding Weekly (Jun 26th): TSMC, Winbond Electronics, Hon Hai Precision, ASE Industrial

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<p>We highlight 14 stocks in Asia that look interesting to us based upon our FVMR Methodology. Our research team constantly reviews the Asian markets to try to find interesting ideas based on Fundamentals or Valuation or Momentum or Risk or some combination thereof.</p>

We highlight 14 stocks in Asia that look interesting to us based upon our FVMR Methodology. Our research team constantly reviews the Asian markets to try to find interesting ideas based on Fundamentals or Valuation or Momentum or Risk or some combination thereof.

Taiwan

Elite Material Co., Ltd manufactures and markets prepared laminated cover claddings for double-sided and multi-layer printed circuit boards.

Price Gauge
52-week Range	0.00 - 0.00
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Elite Material (2383 TT)

Taiwan Tech Weekly: Micron, Apple and AMD Start Funding Their Suppliers

Tech giants like Micron, Apple, and AMD are investing billions in their suppliers, shifting industry dynamics and pushing memory economics to...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Jul 9th): TSMC, Unimicron Technology, ASE Industrial, MediaTek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Unimicron Technology, ASE Industrial,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jul 3rd): TSMC, UMC, Hon Hai Precision, Macronix Intl

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, UMC, Hon Hai Precision, Macronix Intl,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jun 26th): TSMC, Winbond Electronics, Hon Hai Precision, ASE Industrial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Winbond Electronics, Hon Hai Precision,...

Ke Yan, CFA, FRM

The Stocks to Own in Asia – Vol. 30

We highlight 14 stocks in Asia that look interesting to us based upon our FVMR Methodology. Our research team constantly reviews the Asia markets...

A. Stotz Investment Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Taiwan Tech Weekly: Micron, Apple and AMD Start Funding Their Suppliers

​Tech giants like Micron, Apple, and AMD are investing billions in their suppliers, shifting industry dynamics and pushing memory economics to...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Jul 9th): TSMC, Unimicron Technology, ASE Industrial, MediaTek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Unimicron Technology, ASE Industrial,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jul 3rd): TSMC, UMC, Hon Hai Precision, Macronix Intl

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, UMC, Hon Hai Precision, Macronix Intl,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jun 26th): TSMC, Winbond Electronics, Hon Hai Precision, ASE Industrial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Winbond Electronics, Hon Hai Precision,...

Ke Yan, CFA, FRM

The Stocks to Own in Asia – Vol. 30

We highlight 14 stocks in Asia that look interesting to us based upon our FVMR Methodology. Our research team constantly reviews the Asia markets...

A. Stotz Investment Research

Tech giants like Micron, Apple, and AMD are investing billions in their suppliers, shifting industry dynamics and pushing memory economics to...