Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">Taiwan Semiconductor (TSMC) - ADR (TSM US)</a> is planning to scale back its presence in the gallium nitride (GaN) market to focus on high-growth areas.</li>
<li>To meet customer demand, <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">Taiwan Semiconductor (TSMC) - ADR (TSM US)</a> has recently been reallocating resources away from mature process nodes.</li>
<li>We estimate that <a href="https://www.smartkarma.com/entities/navitas-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:36294:1" rel="noopener">Navitas Semiconductor Corp (NVTS US)</a> alone consumes over half of TSMC’s GaN capacity each month, making it TSMC’s largest GaN customer.</li>
</ul>



Taiwan Semiconductor (TSMC) - ADR (TSM US) is planning to scale back its presence in the gallium nitride (GaN) market to focus on high-growth areas.
To meet customer demand, Taiwan Semiconductor (TSMC) - ADR (TSM US) has recently been reallocating resources away from mature process nodes.
We estimate that Navitas Semiconductor Corp (NVTS US) alone consumes over half of TSMC’s GaN capacity each month, making it TSMC’s largest GaN customer.


TSMC (2330.TT; TSM.US): Halts GaN Production at Fab 5, Shifting to Advanced Packaging.

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 short interest of TWSE Stocks as of Jun 20th. The aggregated short interest was USD25.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Cathay Financial, Fubon Financial, TSMC, Asustek Computer, Wistron, Asia Vital Components.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jun 20th. The aggregated short interest was USD25.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Cathay Financial, Fubon Financial, TSMC, Asustek Computer, Wistron, Asia Vital Components.


TWSE Short Interest Weekly (Jun 20th): Cathay Financial, Fubon Financial, TSMC, Asustek Computer

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

<ul>
<li>
Major earnings week ahead: Taiwan names like Macronix, Lite-On, Delta, Mediatek report, while global tech giants Microsoft, Meta, Amazon, and Apple headline a critical week of results.</li>
<li>
 Apple’s India shift faces hurdles: Apple plans to move most U.S. iPhone assembly to India by 2026E, but analysts caution full supply chain relocation from China will be difficult.</li>
<li>
UMC and Intel: Strategy and Uncertainty in Focus: Recent updates from UMC and Intel reveal supply chain adaptations and market visibility challenges for 2025E and beyond.</li>
</ul>



Major earnings week ahead: Taiwan names like Macronix, Lite-On, Delta, Mediatek report, while global tech giants Microsoft, Meta, Amazon, and Apple headline a critical week of results.

 Apple’s India shift faces hurdles: Apple plans to move most U.S. iPhone assembly to India by 2026E, but analysts caution full supply chain relocation from China will be difficult.

UMC and Intel: Strategy and Uncertainty in Focus: Recent updates from UMC and Intel reveal supply chain adaptations and market visibility challenges for 2025E and beyond.


Taiwan Tech Weekly: Taiwan's Big Earnings Week and Apple's High-Stakes Shift to India

<ul>
<li>Google Diversifying from Broadcom to Mediatek for Next Generation AI Chip</li>
<li>Hon Hai CEO: Clients' U.S.-Based Tech Manufacturing Set To Expand</li>
<li>Memory Monitor: Multiple Reports Indicate Rising NAND &amp; DRAM Prices</li>
</ul>


Google Diversifying from Broadcom to Mediatek for Next Generation AI Chip
Hon Hai CEO: Clients' U.S.-Based Tech Manufacturing Set To Expand
Memory Monitor: Multiple Reports Indicate Rising NAND &amp; DRAM Prices


Taiwan Tech Weekly: Mediatek Wins Google AI Chip from Broadcom; Hon Hai to Expand U.S. Production

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

<ul><li>By 2025, AI server to be developed by Intel for BBU and Taiwanese players, aiming to enhance performance and innovation in the market.</li><li>Nvidia visits Samsung amidst supply uncertainty of HBM3E, highlighting the importance of partner collaboration in the semiconductor industry.</li><li>Intel's unveiling of Panther Lake, powered by 18A core ultra chips, signals a new era of technology advancement in the company's product lineup.</li></ul>

By 2025, AI server to be developed by Intel for BBU and Taiwanese players, aiming to enhance performance and innovation in the market.Nvidia visits Samsung amidst supply uncertainty of HBM3E, highlighting the importance of partner collaboration in the semiconductor industry.Intel's unveiling of Panther Lake, powered by 18A core ultra chips, signals a new era of technology advancement in the company's product lineup.

Tech Supply Chain Tracker (14-Mar-2025): AI server BBU, Taiwan players, 2025.

Taiwan

Lite-On Technology Corp. manufactures and markets a wide range of computer components and Peripheral equipment. The Company's products include computers, digital home products, consumer electronics, communications products, key components and sub-systems, and optoelectronic components. Power Supplies, Enclosures, and LEDs business are the core of Lite-On Technology's business.

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Lite On Technology (2301 TT)

TSMC (2330.TT; TSM.US): Halts GaN Production at Fab 5, Shifting to Advanced Packaging.

TSMC is shifting focus away from the gallium nitride market to prioritize high-growth areas, reallocating resources to meet customer demand....

Patrick Liao

TWSE Short Interest Weekly (Jun 20th): Cathay Financial, Fubon Financial, TSMC, Asustek Computer

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Cathay Financial, Fubon Financial, TSMC, Asustek...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Taiwan's Big Earnings Week and Apple's High-Stakes Shift to India

Upcoming earnings reports from Taiwan and global tech giants, Apple's India assembly shift faces challenges, UMC and Intel navigate supply chain...

Vincent Fernando, CFA

Taiwan Tech Weekly: Mediatek Wins Google AI Chip from Broadcom; Hon Hai to Expand U.S. Production

Google is switching from Broadcom to Mediatek for AI chips, Hon Hai CEO predicts growth in U.S.-based tech manufacturing, and reports show...

Vincent Fernando, CFA

Tech Supply Chain Tracker (14-Mar-2025): AI server BBU, Taiwan players, 2025.

AI server for BBU and Taiwanese players by 2025, Nvidia visits Samsung for HBM3E supply, Intel reveals new Panther Lake chips, and considers...

Tech Supply Chain Tracker

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52-week Range

Market Cap (USDm)

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TSMC (2330.TT; TSM.US): Halts GaN Production at Fab 5, Shifting to Advanced Packaging.

TSMC is shifting focus away from the gallium nitride market to prioritize high-growth areas, reallocating resources to meet customer demand....

Patrick Liao

TWSE Short Interest Weekly (Jun 20th): Cathay Financial, Fubon Financial, TSMC, Asustek Computer

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Cathay Financial, Fubon Financial, TSMC, Asustek...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Taiwan's Big Earnings Week and Apple's High-Stakes Shift to India

​Upcoming earnings reports from Taiwan and global tech giants, Apple's India assembly shift faces challenges, UMC and Intel navigate supply chain...

Vincent Fernando, CFA

Taiwan Tech Weekly: Mediatek Wins Google AI Chip from Broadcom; Hon Hai to Expand U.S. Production

​Google is switching from Broadcom to Mediatek for AI chips, Hon Hai CEO predicts growth in U.S.-based tech manufacturing, and reports show...

Vincent Fernando, CFA

Tech Supply Chain Tracker (14-Mar-2025): AI server BBU, Taiwan players, 2025.

AI server for BBU and Taiwanese players by 2025, Nvidia visits Samsung for HBM3E supply, Intel reveals new Panther Lake chips, and considers...

Tech Supply Chain Tracker

Upcoming earnings reports from Taiwan and global tech giants, Apple's India assembly shift faces challenges, UMC and Intel navigate supply chain...

Google is switching from Broadcom to Mediatek for AI chips, Hon Hai CEO predicts growth in U.S.-based tech manufacturing, and reports show...