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>TSMC's Latest 2024E Industry Guidance Provided at Symposium in Taiwan</li>
<li>More Potential Details on Nvidia &amp; Mediatek's AI PC Chip to Compete with Qualcomm &amp; Intel</li>
<li>Samsung's HBM DRAM Chips Face Challenges in Meeting Nvidia's AI Requirements</li>
</ul>


TSMC's Latest 2024E Industry Guidance Provided at Symposium in Taiwan
More Potential Details on Nvidia &amp; Mediatek's AI PC Chip to Compete with Qualcomm &amp; Intel
Samsung's HBM DRAM Chips Face Challenges in Meeting Nvidia's AI Requirements


Taiwan Tech Weekly: TSMC's Latest Sub-Industry Guidance; PC Names Strong; Computex & Apple WDC Ahead

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Marvell has historically performed well in the market but is now shifting its focus to growth areas such as AI, cloud computing, and faster data networks</li><li>Despite recent cyclical weakness, the company is expected to see improved performance and strong earnings growth</li><li>Reactivating the account is a strategic move to capitalize on Marvell's promising future prospects and potential increase in stock value</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Marvell has historically performed well in the market but is now shifting its focus to growth areas such as AI, cloud computing, and faster data networksDespite recent cyclical weakness, the company is expected to see improved performance and strong earnings growthReactivating the account is a strategic move to capitalize on Marvell's promising future prospects and potential increase in stock valueThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Marvell Technology Inc (MRVL) - Thursday, Feb 22, 2024

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

<ul><li>I wrote about this in my recent post about HBM, and it seems almost everything I talked about became true. HBM is going to bail out the memory markets meaningfully.</li><li>Let’s talk about earnings, but I was hoping you could keep this post in mind while I discuss Micron.</li><li>These are the kinds of beats we start to see when the cycle turns. Now, the stocks have begun to anticipate this, but given the pricing dynamics of HBM, I feel very confident in Micron’s ability to hit a new cycle high in profitability.</li></ul>

I wrote about this in my recent post about HBM, and it seems almost everything I talked about became true. HBM is going to bail out the memory markets meaningfully.Let’s talk about earnings, but I was hoping you could keep this post in mind while I discuss Micron.These are the kinds of beats we start to see when the cycle turns. Now, the stocks have begun to anticipate this, but given the pricing dynamics of HBM, I feel very confident in Micron’s ability to hit a new cycle high in profitability.

Micron's Earnings and Broadcom's Accelerators

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>Our base case valuation is market cap of US$5.4 billion or target price of US$35.9 per share, which is 20% higher than high end of the IPO price range (US$30).</li>
<li>We estimate Astera Labs (ALAB US) to generate revenue of $221.3 million (up 91.1% YoY) in 2024 and $304.5 million (up 37.5% YoY) in 2025.</li>
<li>Many investors are willing to take extra risk to invest in companies such as Astera Labs that could generate strong sales growth amid rush to aggressively expand AI capabilities.</li>
</ul>


Our base case valuation is market cap of US$5.4 billion or target price of US$35.9 per share, which is 20% higher than high end of the IPO price range (US$30).
We estimate Astera Labs (ALAB US) to generate revenue of $221.3 million (up 91.1% YoY) in 2024 and $304.5 million (up 37.5% YoY) in 2025.
Many investors are willing to take extra risk to invest in companies such as Astera Labs that could generate strong sales growth amid rush to aggressively expand AI capabilities.


<ul>
<li>Astera Labs (ALAB US) is scheduled to debut its IPO on 20 March. The company is offering 17.8 million shares at a price of $27 to $30 per share. </li>
<li>Founded in 2017, Astera Labs is a fabless semiconductor company headquartered in Silicon Valley. The company designs and sells semiconductor technology, but the production is outsourced.</li>
<li>Astera Labs' major competitors include Montage Technology (688008 CH), Parade Technologies (4966 TT), Broadcom (AVGO US), Credo Technology Group Holding (CRDO US), and Marvell Technology (MRVL US).</li>
</ul>


Astera Labs (ALAB US) is scheduled to debut its IPO on 20 March. The company is offering 17.8 million shares at a price of $27 to $30 per share. 
Founded in 2017, Astera Labs is a fabless semiconductor company headquartered in Silicon Valley. The company designs and sells semiconductor technology, but the production is outsourced.
Astera Labs' major competitors include Montage Technology (688008 CH), Parade Technologies (4966 TT), Broadcom (AVGO US), Credo Technology Group Holding (CRDO US), and Marvell Technology (MRVL US).


United States

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide.

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Marvell Technology (MRVL US)

Taiwan Tech Weekly: TSMC's Latest Sub-Industry Guidance; PC Names Strong; Computex & Apple WDC Ahead

TSMC provides industry guidance for 2024E, more detail on Nvidia and Mediatek developing AI PC chip to rival Qualcomm and Intel, Samsung's HBM...

Vincent Fernando, CFA

Marvell Technology Inc (MRVL) - Thursday, Feb 22, 2024

Marvell has shifted its focus to growth areas like AI and cloud computing, positioning itself for significant upside potential despite recent...

Value Investors Club (VIC)

Micron's Earnings and Broadcom's Accelerators

It's all about AI. Micron is proving the memory thesis true, and Broadcom has a new accelerator customer. Also Nvidia's Moat.

Fabricated Knowledge

Astera Labs IPO Valuation Analysis

Our base case valuation of Astera Labs is market cap of US$5.4 billion or target price of US$35.9 per share, which is 20% higher than high end of...

Douglas Kim

Astera Labs IPO Preview

Astera Labs (ALAB US) is scheduled to debut its IPO on 20 March. The company is offering 17.8 million shares at a price of $27 to $30 per share.

Douglas Kim

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Taiwan Tech Weekly: TSMC's Latest Sub-Industry Guidance; PC Names Strong; Computex & Apple WDC Ahead

​TSMC provides industry guidance for 2024E, more detail on Nvidia and Mediatek developing AI PC chip to rival Qualcomm and Intel, Samsung's HBM...

Vincent Fernando, CFA

Marvell Technology Inc (MRVL) - Thursday, Feb 22, 2024

Marvell has shifted its focus to growth areas like AI and cloud computing, positioning itself for significant upside potential despite recent...

Value Investors Club (VIC)

Micron's Earnings and Broadcom's Accelerators

It's all about AI. Micron is proving the memory thesis true, and Broadcom has a new accelerator customer. Also Nvidia's Moat.

Fabricated Knowledge

Astera Labs IPO Valuation Analysis

Our base case valuation of Astera Labs is market cap of US$5.4 billion or target price of US$35.9 per share, which is 20% higher than high end of...

Douglas Kim

Astera Labs IPO Preview

Astera Labs (ALAB US) is scheduled to debut its IPO on 20 March. The company is offering 17.8 million shares at a price of $27 to $30 per share.

Douglas Kim

TSMC provides industry guidance for 2024E, more detail on Nvidia and Mediatek developing AI PC chip to rival Qualcomm and Intel, Samsung's HBM...