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>Nvidia Results Today U.S. Time -- Taiwan Market Surged Recently on Improving AI/Semiconductor Expectations and Potential for Easing U.S.-China Tensions.</li>
<li>Taiwan: Underowned, Yet Gaining on Peers. Our Fellow Insight Provider Analyzes Why Taiwan Might Still Be Underowned.</li>
<li>Asia Geopolitics: Following Biden-Xi Meeting, Asia Is a Safer Place For Now.</li>
</ul>


Nvidia Results Today U.S. Time -- Taiwan Market Surged Recently on Improving AI/Semiconductor Expectations and Potential for Easing U.S.-China Tensions.
Taiwan: Underowned, Yet Gaining on Peers. Our Fellow Insight Provider Analyzes Why Taiwan Might Still Be Underowned.
Asia Geopolitics: Following Biden-Xi Meeting, Asia Is a Safer Place For Now.


Taiwan Tech Weekly: Nvidia Results Today; Taiwan Market Surged But Why It Might Be Still Underowned

<ul>
<li>This assembly and testing leader provides fresh insight into the state of display, memory, consumer, enterprise, and industrial end markets.</li>
<li>ChipMOS: Memory Industry Strength Offsets Display Industry Weakness. Memory strength seen into 2026E. Company noted soft smartphone industry panel demand currently.</li>
<li>Management signals sustained memory upcycle; disciplined capex to serve multi-year AI and datacenter growth. We rate ChipMOS shares as a Structural Long.</li>
</ul>


This assembly and testing leader provides fresh insight into the state of display, memory, consumer, enterprise, and industrial end markets.
ChipMOS: Memory Industry Strength Offsets Display Industry Weakness. Memory strength seen into 2026E. Company noted soft smartphone industry panel demand currently.
Management signals sustained memory upcycle; disciplined capex to serve multi-year AI and datacenter growth. We rate ChipMOS shares as a Structural Long.


TechChain Insights: ChipMOS Indicates Memory Industry Surge into 2026E; Smartphones Currently Soft

<ul>
<li>U.S. 2nm Production May Begin Sooner Than Expected — Is TSMC Responding to Unprecedented N2 Demand?</li>
<li>Hyperscalers 2Q25: Revenue Growth Accelerates, Cloud Revenues Accelerate, Capex Higher </li>
<li>TechChain Insights: Taiwan’s Battery Cell Moment? USA &amp; EU Supply Chain Under Strategic Pressure </li>
</ul>


U.S. 2nm Production May Begin Sooner Than Expected — Is TSMC Responding to Unprecedented N2 Demand?
Hyperscalers 2Q25: Revenue Growth Accelerates, Cloud Revenues Accelerate, Capex Higher 
TechChain Insights: Taiwan’s Battery Cell Moment? USA &amp; EU Supply Chain Under Strategic Pressure 


Taiwan Tech Weekly: TSMC’s Arizona Surprise - 2nm by 2026?; Signs of Hyperscaler Growth Acceleration

<ul>
<li>
TSMC’s Next Generation 2nm Node is Experiencing Unprecedented Customer Demand</li>
<li>
Showdown Heats Up Between Qualcomm &amp; Mediatek's Next Generation of Mobile Phone SoCs -- And All Roads Lead to TSMC's Process Technology</li>
<li>
Hyperscale Capex Is Maintained or Increased No Cuts or Postponement Capacity Constrain at AMZN GOOG</li>
</ul>



TSMC’s Next Generation 2nm Node is Experiencing Unprecedented Customer Demand

Showdown Heats Up Between Qualcomm &amp; Mediatek's Next Generation of Mobile Phone SoCs -- And All Roads Lead to TSMC's Process Technology

Hyperscale Capex Is Maintained or Increased No Cuts or Postponement Capacity Constrain at AMZN GOOG


Taiwan Tech Weekly: TSMC's Next Gen Node Unprecedented Demand; QCOM/Mediatek Chips' Peformance Leaks

<ul>
<li>OpenAI Joins the AI Chip Race -- Partnering with TSMC and Broadcom to Reduce Nvidia Reliance</li>
<li>TSMC January Revenue Rises 35.9% -- But Reduces 1Q25E Expectations Due to Quake Impact</li>
<li>Hon Hai Guides for 1Q25E Growth to Be Above Average and 'Strong'</li>
</ul>


OpenAI Joins the AI Chip Race -- Partnering with TSMC and Broadcom to Reduce Nvidia Reliance
TSMC January Revenue Rises 35.9% -- But Reduces 1Q25E Expectations Due to Quake Impact
Hon Hai Guides for 1Q25E Growth to Be Above Average and 'Strong'


Taiwan Tech Weekly: OpenAI Developing Alternative to Nvidia with TSMC; Hon Hai Guides Strong 1Q25E

Taiwan

Himax Technologies, Inc. designs and manufactures integrated circuits.  The Company produces liquid crystal displays (LCD).

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Himax Technologies Inc Adr (HIMX US)

Taiwan Tech Weekly: Nvidia Results Today; Taiwan Market Surged But Why It Might Be Still Underowned

NVIDIA Corp (NVDA US) will report today U.S. time with its analyst call at 14:00 PDT, we are maintaining our Short basket of Taiwan AI names vs....

Vincent Fernando, CFA

TechChain Insights: ChipMOS Indicates Memory Industry Surge into 2026E; Smartphones Currently Soft

ChipMOS sees strength in memory industry offsetting weakness in display market, signaling sustained memory upcycle and disciplined capex for AI...

Vincent Fernando, CFA

Taiwan Tech Weekly: TSMC’s Arizona Surprise - 2nm by 2026?; Signs of Hyperscaler Growth Acceleration

TSMC may start producing 2nm chips in the U.S. sooner due to high demand, hyperscalers see revenue growth and increased capex, Taiwan's battery...

Vincent Fernando, CFA

Taiwan Tech Weekly: TSMC's Next Gen Node Unprecedented Demand; QCOM/Mediatek Chips' Peformance Leaks

TSMC's 2nm node sees high demand, Qualcomm and Mediatek compete using TSMC's technology, Amazon and Google maintain or increase hyperscale capex.

Vincent Fernando, CFA

Taiwan Tech Weekly: OpenAI Developing Alternative to Nvidia with TSMC; Hon Hai Guides Strong 1Q25E

OpenAI partners with TSMC and Broadcom to reduce reliance on Nvidia in AI chip race, while Hon Hai expects above average and 'strong' growth in...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Taiwan Tech Weekly: Nvidia Results Today; Taiwan Market Surged But Why It Might Be Still Underowned

NVIDIA Corp (NVDA US) will report today U.S. time with its analyst call at 14:00 PDT, we are maintaining our Short basket of Taiwan AI names vs....

Vincent Fernando, CFA

TechChain Insights: ChipMOS Indicates Memory Industry Surge into 2026E; Smartphones Currently Soft

​ChipMOS sees strength in memory industry offsetting weakness in display market, signaling sustained memory upcycle and disciplined capex for AI...

Vincent Fernando, CFA

Taiwan Tech Weekly: TSMC’s Arizona Surprise - 2nm by 2026?; Signs of Hyperscaler Growth Acceleration

​TSMC may start producing 2nm chips in the U.S. sooner due to high demand, hyperscalers see revenue growth and increased capex, Taiwan's battery...

Vincent Fernando, CFA

Taiwan Tech Weekly: TSMC's Next Gen Node Unprecedented Demand; QCOM/Mediatek Chips' Peformance Leaks

​TSMC's 2nm node sees high demand, Qualcomm and Mediatek compete using TSMC's technology, Amazon and Google maintain or increase hyperscale capex.

Vincent Fernando, CFA

Taiwan Tech Weekly: OpenAI Developing Alternative to Nvidia with TSMC; Hon Hai Guides Strong 1Q25E

​OpenAI partners with TSMC and Broadcom to reduce reliance on Nvidia in AI chip race, while Hon Hai expects above average and 'strong' growth in...

Vincent Fernando, CFA

ChipMOS sees strength in memory industry offsetting weakness in display market, signaling sustained memory upcycle and disciplined capex for AI...

TSMC may start producing 2nm chips in the U.S. sooner due to high demand, hyperscalers see revenue growth and increased capex, Taiwan's battery...

TSMC's 2nm node sees high demand, Qualcomm and Mediatek compete using TSMC's technology, Amazon and Google maintain or increase hyperscale capex.

OpenAI partners with TSMC and Broadcom to reduce reliance on Nvidia in AI chip race, while Hon Hai expects above average and 'strong' growth in...