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

<ul>
<li>The Stakes in the 6G Race: 100x Data Speeds &amp; AI-Driven Networks</li>
<li>Qualcom's Strategy vs. Mediatek's Gameplan to Win the 6G Battle -- Takeaways from MWC 2025 in Barcelona</li>
<li>Investment Takeaways: MediaTek vs. Qualcomm -- Maintain Structural Long for Mediatek but Qualcomm Could Offer Near-Term Relative Value Play</li>
</ul>


The Stakes in the 6G Race: 100x Data Speeds &amp; AI-Driven Networks
Qualcom's Strategy vs. Mediatek's Gameplan to Win the 6G Battle -- Takeaways from MWC 2025 in Barcelona
Investment Takeaways: MediaTek vs. Qualcomm -- Maintain Structural Long for Mediatek but Qualcomm Could Offer Near-Term Relative Value Play


MWC Barcelona Showcased The 6G Showdown: MediaTek Vs. Qualcomm in the Race for Wireless Supremacy

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

Thematic (Sector/Industry)

<ul><li>Strong quarter with big surprise on EPS and above-expectation guidance</li><li>Positive performance in PCs and automotive sectors, with design wins and partnerships</li><li>Concerns over competitive landscape and market expectations, but overall solid performance from Qualcomm and potential for growth opportunities in the future</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Strong quarter with big surprise on EPS and above-expectation guidancePositive performance in PCs and automotive sectors, with design wins and partnershipsConcerns over competitive landscape and market expectations, but overall solid performance from Qualcomm and potential for growth opportunities in the futureThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Episode 104: Earnings Thoughts (QCOM, AMD, Arm) and Hypersaler CapEx Steady

<ul>
<li>Growing Signs That ARM-Based Chips Are Set to Disrupt the PC Market</li>
<li>Qualcomm’s Earnings Call Insights -- Snapdragon’s ARM-Based Push into PCs Successfully Taking Significant Market Share</li>
<li>Mediatek Earnings Call Highlights -- Reiterates ARM-Based Entry into PC Market with AI Supercomputer CPU in Collaboration with NVIDIA</li>
</ul>


Growing Signs That ARM-Based Chips Are Set to Disrupt the PC Market
Qualcomm’s Earnings Call Insights -- Snapdragon’s ARM-Based Push into PCs Successfully Taking Significant Market Share
Mediatek Earnings Call Highlights -- Reiterates ARM-Based Entry into PC Market with AI Supercomputer CPU in Collaboration with NVIDIA


PC Monitor: Latest Qualcomm & Mediatek Results Show ARM-Based Chips Disrupting the PC Market

Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>The upcoming 1Q25 could be relatively flat or slightly higher than 4Q24, which represents a better start than usual due to seasonal effects.  </li>
<li>The Dimistry 8400/9400 models have been successful sellers, and a new Dimistry 9500 is expected to be launched after the first half of 2025. <a href="https://www.smartkarma.com/insights/tsmc-2330-tt-tsm-us-1q25-outlook-tsmc-will-use-2nm-in-4q25-and-production-will-occur-in-1q26" target="_blank" rel="noopener">(link)</a>
</li>
<li>The China electronic household subsidy program, including smartphone, has resulted in over 8 million sales in shipments within 4 days on Jan 25.</li>
</ul>


The upcoming 1Q25 could be relatively flat or slightly higher than 4Q24, which represents a better start than usual due to seasonal effects.  
The Dimistry 8400/9400 models have been successful sellers, and a new Dimistry 9500 is expected to be launched after the first half of 2025. (link)

The China electronic household subsidy program, including smartphone, has resulted in over 8 million sales in shipments within 4 days on Jan 25.


MediaTek (2454.TT): A Good Start in 1Q25; D9500 Launched After About 1H25; China Subsidy.

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC Expands 2nm &amp; Advanced Packaging in Taiwan, Advances 1nm "GIGAFAB" in the South -- Despite U.S. Tariff Risks</li>
<li>Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC? -- Maintain Structural Long for TSMC.</li>
<li>Apple Supply Chain Monitor -- Why Zhen Ding and Kinsus Interconnect Could Be in a Favorable Position Relative to Apple's AI Trajectory</li>
</ul>


TSMC Expands 2nm &amp; Advanced Packaging in Taiwan, Advances 1nm "GIGAFAB" in the South -- Despite U.S. Tariff Risks
Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC? -- Maintain Structural Long for TSMC.
Apple Supply Chain Monitor -- Why Zhen Ding and Kinsus Interconnect Could Be in a Favorable Position Relative to Apple's AI Trajectory


Taiwan Tech Weekly: TSMC's Massive New 1nm GIGAFAB in Development; Can Japan Build the Next TSMC?

United States

QUALCOMM, Inc . manufactures digital wireless communications equipment.  The Company licenses its code division multiple access (CDMA) and orthogonal frequency division multiplexing access intellectual property to other companies, and produces CDMA-based integrated circuits; and produces equipment and software used to track workers and assets; and software for wireless content enablement.

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Qualcomm Inc (QCOM US)

MWC Barcelona Showcased The 6G Showdown: MediaTek Vs. Qualcomm in the Race for Wireless Supremacy

MWC 2025 in Barcelona earlier this week showed the race for 6G dominance heating up as Qualcomm and MediaTek strategize for faster data speeds and...

Vincent Fernando, CFA

Episode 104: Earnings Thoughts (QCOM, AMD, Arm) and Hypersaler CapEx Steady

Overall, Qualcomm had a strong quarter with a big surprise on EPS, profitability, and guidance, despite a dip in after hours trading, due to...

The Circuit

PC Monitor: Latest Qualcomm & Mediatek Results Show ARM-Based Chips Disrupting the PC Market

ARM-based chips, led by Qualcomm and Mediatek, are poised to disrupt the PC market with successful market share gains and collaborations with...

Vincent Fernando, CFA

MediaTek (2454.TT): A Good Start in 1Q25; D9500 Launched After About 1H25; China Subsidy.

1Q25 outlook for TSMC shows potential growth, new Dimistry 9500 model expected, and China subsidy program boosts electronic sales.

Patrick Liao

Taiwan Tech Weekly: TSMC's Massive New 1nm GIGAFAB in Development; Can Japan Build the Next TSMC?

TSMC expands in Taiwan and advances in South despite U.S. tariff risks, Japan's Rapidus challenges TSMC, Zhen Ding and Kinsus in favorable...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MWC Barcelona Showcased The 6G Showdown: MediaTek Vs. Qualcomm in the Race for Wireless Supremacy

​MWC 2025 in Barcelona earlier this week showed the race for 6G dominance heating up as Qualcomm and MediaTek strategize for faster data speeds and...

Vincent Fernando, CFA

Episode 104: Earnings Thoughts (QCOM, AMD, Arm) and Hypersaler CapEx Steady

Overall, Qualcomm had a strong quarter with a big surprise on EPS, profitability, and guidance, despite a dip in after hours trading, due to...

The Circuit

PC Monitor: Latest Qualcomm & Mediatek Results Show ARM-Based Chips Disrupting the PC Market

​ARM-based chips, led by Qualcomm and Mediatek, are poised to disrupt the PC market with successful market share gains and collaborations with...

Vincent Fernando, CFA

MediaTek (2454.TT): A Good Start in 1Q25; D9500 Launched After About 1H25; China Subsidy.

​1Q25 outlook for TSMC shows potential growth, new Dimistry 9500 model expected, and China subsidy program boosts electronic sales.

Patrick Liao

Taiwan Tech Weekly: TSMC's Massive New 1nm GIGAFAB in Development; Can Japan Build the Next TSMC?

​TSMC expands in Taiwan and advances in South despite U.S. tariff risks, Japan's Rapidus challenges TSMC, Zhen Ding and Kinsus in favorable...

Vincent Fernando, CFA

MWC 2025 in Barcelona earlier this week showed the race for 6G dominance heating up as Qualcomm and MediaTek strategize for faster data speeds and...

ARM-based chips, led by Qualcomm and Mediatek, are poised to disrupt the PC market with successful market share gains and collaborations with...

1Q25 outlook for TSMC shows potential growth, new Dimistry 9500 model expected, and China subsidy program boosts electronic sales.

TSMC expands in Taiwan and advances in South despite U.S. tariff risks, Japan's Rapidus challenges TSMC, Zhen Ding and Kinsus in favorable...