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>TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations</li>
<li>MediaTek Poised to Benefit from the ARM and Qualcomm Dispute</li>
<li>Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece</li>
</ul>


TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations
MediaTek Poised to Benefit from the ARM and Qualcomm Dispute
Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece


Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

Technology / Semiconductor / Internet Research

Nicolas Baratte

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Nvidia is not upset with TSMC after all. Samsung is losing another customer to TSMC at 3nm</li>
<li>Legacy Foundry Overcapacity as Chinese firms are over-extending, expect Pricing Pressure (GlobalFoundries, Hua Hong, SMIC, UMC)</li>
<li>Progress in China: new Loongson CPU and GPU. Lithography Photoresist</li>
</ul>


Nvidia is not upset with TSMC after all. Samsung is losing another customer to TSMC at 3nm
Legacy Foundry Overcapacity as Chinese firms are over-extending, expect Pricing Pressure (GlobalFoundries, Hua Hong, SMIC, UMC)
Progress in China: new Loongson CPU and GPU. Lithography Photoresist


Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Nvidia and Reliance Partner to Build AI Infrastructure in India</li>
<li>NMDC Raises Iron Ore Prices by Over 18% Since August</li>
<li>GMR Group Raises INR 6,300 Crore from ADIA for Debt Refinancing</li>
</ul>


Nvidia and Reliance Partner to Build AI Infrastructure in India
NMDC Raises Iron Ore Prices by Over 18% Since August
GMR Group Raises INR 6,300 Crore from ADIA for Debt Refinancing


# 68 India Insight: Nvidia & Reliance Partnership, NMDC Price Raise, GMR INR 6,300 Crore from ADIA

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Considering constructive market dynamics and the recent $SPX breakout above 5783 following several months of consolidation, we upgraded our outlook to bullish as of our 10/15/24 U.S. Macro Vision report</li>
<li>Since late-July, we have been neutral on the SPX, preferring to buy near 5100-5200 support and sell near 5670-5783 resistance until there is a break in either direction.</li>
<li>The verdict of the market is the only one that matters, and the breakout above 5783 is the market's way of saying the path of least resistance is higher.</li>
</ul>


Considering constructive market dynamics and the recent $SPX breakout above 5783 following several months of consolidation, we upgraded our outlook to bullish as of our 10/15/24 U.S. Macro Vision report
Since late-July, we have been neutral on the SPX, preferring to buy near 5100-5200 support and sell near 5670-5783 resistance until there is a break in either direction.
The verdict of the market is the only one that matters, and the breakout above 5783 is the market's way of saying the path of least resistance is higher.


Bullish Outlook Focused on Large- And Mid-Caps; Russell 2000 Below Resistance; Concerns Dwindling

<ul>
<li>Hua-Where? Hua-Who? Report: Apple's iPhone 16 Pro &amp; Pro Max Sales Surge 44% in China; A Strong Start Amidst Competition</li>
<li>Samsung Under Siege: Facing Major Challenges Across Verticals as TSMC Tightens Foundry Grip</li>
<li>TSMC 3Q24: Guidance Remains Strong; Explains Why AI Demand Not Overhyped; Stay Long... TSMC is Working with All AI Innovators</li>
</ul>


Hua-Where? Hua-Who? Report: Apple's iPhone 16 Pro &amp; Pro Max Sales Surge 44% in China; A Strong Start Amidst Competition
Samsung Under Siege: Facing Major Challenges Across Verticals as TSMC Tightens Foundry Grip
TSMC 3Q24: Guidance Remains Strong; Explains Why AI Demand Not Overhyped; Stay Long... TSMC is Working with All AI Innovators


Taiwan Tech Weekly: IPhone 16 Sales Surge in China; Samsung's Strength Diluted Against TSMC’s Focus

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nicolas Baratte

# 68 India Insight: Nvidia & Reliance Partnership, NMDC Price Raise, GMR INR 6,300 Crore from ADIA

Nvidia and Reliance collaborate on AI infrastructure in India, NMDC hikes iron ore prices by 18%, GMR Group secures INR 6,300 crore from ADIA for...

Sudarshan Bhandari

Bullish Outlook Focused on Large- And Mid-Caps; Russell 2000 Below Resistance; Concerns Dwindling

Bullish Outlook Focused on Large- and Mid-Caps $SPX $NDX $QQQ $IJH $MDY $IWR as of the Oct 11 close above 5783; Russell 2000 $IWM Still Below...

Vermilion Research

Taiwan Tech Weekly: IPhone 16 Sales Surge in China; Samsung's Strength Diluted Against TSMC’s Focus

Apple's iPhone 16 Pro & Pro Max sales surging in China, Samsung faces challenges from multiple fronts as TSMC tightens grip in foundry, TSMC gives...

Vincent Fernando, CFA

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52-week Range

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Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

​TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

​Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nicolas Baratte

# 68 India Insight: Nvidia & Reliance Partnership, NMDC Price Raise, GMR INR 6,300 Crore from ADIA

​Nvidia and Reliance collaborate on AI infrastructure in India, NMDC hikes iron ore prices by 18%, GMR Group secures INR 6,300 crore from ADIA for...

Sudarshan Bhandari

Bullish Outlook Focused on Large- And Mid-Caps; Russell 2000 Below Resistance; Concerns Dwindling

Bullish Outlook Focused on Large- and Mid-Caps $SPX $NDX $QQQ $IJH $MDY $IWR as of the Oct 11 close above 5783; Russell 2000 $IWM Still Below...

Vermilion Research

Taiwan Tech Weekly: IPhone 16 Sales Surge in China; Samsung's Strength Diluted Against TSMC’s Focus

​Apple's iPhone 16 Pro & Pro Max sales surging in China, Samsung faces challenges from multiple fronts as TSMC tightens grip in foundry, TSMC gives...

Vincent Fernando, CFA

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nvidia and Reliance collaborate on AI infrastructure in India, NMDC hikes iron ore prices by 18%, GMR Group secures INR 6,300 crore from ADIA for...

Apple's iPhone 16 Pro & Pro Max sales surging in China, Samsung faces challenges from multiple fronts as TSMC tightens grip in foundry, TSMC gives...