Asia and Global Semiconductor and Tech Research

Andrew Lu

Thematic (Sector/Industry)

<ul>
<li>With a strong 20A/18A team, Intel might take some CPU shares back from AMD to affect TSMC but reduce geopolitical tensions from the US after Intel returning to the best. </li>
<li>SMIC can use DUV to do 3nm but different from others' because Moore's law is no longer using circuit line width but to use performance, power, density to determine 3nm. </li>
<li>New fabless industry opportunities are emerging in middle east countries, and south east Asia countries like Vietnam. Despite high cost issues, global expansion will help TSMC to attract global talents. </li>
</ul>


With a strong 20A/18A team, Intel might take some CPU shares back from AMD to affect TSMC but reduce geopolitical tensions from the US after Intel returning to the best. 
SMIC can use DUV to do 3nm but different from others' because Moore's law is no longer using circuit line width but to use performance, power, density to determine 3nm. 
New fabless industry opportunities are emerging in middle east countries, and south east Asia countries like Vietnam. Despite high cost issues, global expansion will help TSMC to attract global talents. 


A R&D Director Dr. Young Was at TSMC, SMIC, and Intel Foundry Shared Views on 3-1nm Competitions

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 (TSM US)

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Over the trailing 12 months and the last month, the suppliers feeding the AI buildout have run multiples of NVDA and TSMC themselves. </li>
<li>I pulled fresh price performance across Zero One's broad coverage universe — 190 AI and semiconductor names tracked daily across Taiwan, Korea, Japan, and the US.</li>
<li>We explore five key themes that arise from the data and recent events.</li>
</ul>


Over the trailing 12 months and the last month, the suppliers feeding the AI buildout have run multiples of NVDA and TSMC themselves. 
I pulled fresh price performance across Zero One's broad coverage universe — 190 AI and semiconductor names tracked daily across Taiwan, Korea, Japan, and the US.
We explore five key themes that arise from the data and recent events.


AI's Biggest Winners Aren't NVDA and TSMC — They're the Suppliers

Asia Pac ECM and Index Rebal, DZT 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 foreign holdings of TWSE Stocks as of Apr 10th. The aggregated holding was USD1,771.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD5,294mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 10th. The aggregated holding was USD1,771.1bn.
We estimate that foreign flows to be inflows of USD5,294mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron.


TWSE Foreign Holding Weekly (Apr 10th): TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron

Taiwan

Scientech Corporation manufactures various electronic products. The Company serves the Semiconductor (front-end, back-end and GaAs), Flat Panel Display, LED, Data Storage, Scientific Instruments and high-tech related industries.

Price Gauge
52-week Range	0.00 - 0.00
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Scientech Corp (3583 TT)

A R&D Director Dr. Young Was at TSMC, SMIC, and Intel Foundry Shared Views on 3-1nm Competitions

A R&D Director Dr. Young Was at TSMC, SMIC, and Intel Foundry Shared Views on 3-1nm Competitions. Intel might ramp up its 20A/18A ahead of TSMC 2nm...

Andrew Lu

AI's Biggest Winners Aren't NVDA and TSMC — They're the Suppliers

Suppliers in the AI buildout have outperformed NVDA and TSMC. We scanned our 190 AI/semiconductor coverage universe for key themes emerging from...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Apr 10th): TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Quanta Computer, Delta Electronics, Yageo,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A R&D Director Dr. Young Was at TSMC, SMIC, and Intel Foundry Shared Views on 3-1nm Competitions

A R&D Director Dr. Young Was at TSMC, SMIC, and Intel Foundry Shared Views on 3-1nm Competitions. Intel might ramp up its 20A/18A ahead of TSMC 2nm...

Andrew Lu

AI's Biggest Winners Aren't NVDA and TSMC — They're the Suppliers

​Suppliers in the AI buildout have outperformed NVDA and TSMC. We scanned our 190 AI/semiconductor coverage universe for key themes emerging from...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Apr 10th): TSMC, Quanta Computer, Delta Electronics, Yageo, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Quanta Computer, Delta Electronics, Yageo,...

Ke Yan, CFA, FRM

Suppliers in the AI buildout have outperformed NVDA and TSMC. We scanned our 190 AI/semiconductor coverage universe for key themes emerging from...