Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul><li>India aims to create its own foundational model by 2025, showing its commitment to technological development and innovation.</li><li>DeepSeek's founder's journey from stock prodigy to AI disruptor highlights the potential for growth and success in the tech industry.</li><li>Cadence's focus on expanding in India's data center industry shows the increasing importance of this sector in the global economy.</li></ul>

India aims to create its own foundational model by 2025, showing its commitment to technological development and innovation.DeepSeek's founder's journey from stock prodigy to AI disruptor highlights the potential for growth and success in the tech industry.Cadence's focus on expanding in India's data center industry shows the increasing importance of this sector in the global economy.

Tech Supply Chain Tracker (03-Feb-2025): India building own AI model by 2025

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

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

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>PC Monitor: Snapdragon’s Surge, AMD’s Gains, Intel’s Test; Long Asus &amp; Dell</li>
<li>Memory Monitor: Is DeepSeek a Problem for SK Hynix &amp; Micron's HBM DRAM Growth? </li>
<li>TSMC (2330.TT; TSM.US): Earthquake Impact Limited; Setting Newest Production Line Not Viable in US. </li>
</ul>


PC Monitor: Snapdragon’s Surge, AMD’s Gains, Intel’s Test; Long Asus &amp; Dell
Memory Monitor: Is DeepSeek a Problem for SK Hynix &amp; Micron's HBM DRAM Growth? 
TSMC (2330.TT; TSM.US): Earthquake Impact Limited; Setting Newest Production Line Not Viable in US. 


Taiwan Tech Weekly: How Apple Helped TSMC Become #1; Also Morris Chang Comments on TSMC ADR Premium

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<ul>
<li>TSMC hit a record high average fund allocation of 9.07% at the end of last year, yet EM funds switched to a sizeable underweight of -1.47% throughout the year.</li>
<li>Active UCITS funds become forced sellers as weights hit 10%, with non-UCITS selling in to strength as weights rise on strong performance.</li>
<li>EM Value funds maintain an overweight in Alibaba, the only Style group to do so. Alibaba is now the most widely held stock for Value funds alongside TSMC and Samsung.</li>
</ul>


TSMC hit a record high average fund allocation of 9.07% at the end of last year, yet EM funds switched to a sizeable underweight of -1.47% throughout the year.
Active UCITS funds become forced sellers as weights hit 10%, with non-UCITS selling in to strength as weights rise on strong performance.
EM Value funds maintain an overweight in Alibaba, the only Style group to do so. Alibaba is now the most widely held stock for Value funds alongside TSMC and Samsung.


TSMC Forced Underweight, Alibaba Value Trap?

<ul>
<li>TSMC: 10.8% Premium; Taiwanese Investors Likely to Be Less Shocked by DeepSeek News?</li>
<li>UMC: -7.3% Discount; The Latest Extreme Discount Cannot Be Sustained</li>
<li>ASE: -10.2% Discount; This Extreme Discount Also Cannot Be Sustained</li>
</ul>


TSMC: 10.8% Premium; Taiwanese Investors Likely to Be Less Shocked by DeepSeek News?
UMC: -7.3% Discount; The Latest Extreme Discount Cannot Be Sustained
ASE: -10.2% Discount; This Extreme Discount Also Cannot Be Sustained


Taiwan Dual-Listings Monitor: Dramatic Spreads Open Up After DeepSeek Rout & Taiwan Market Closure

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Taiwan Semiconductor Manufacturing Company (TSMC) closed 2024 on a high note, driven by robust demand for AI-related chips and its cutting-edge 3-nanometer and 5-nanometer technology nodes.</li><li>The world’s largest contract chipmaker reported a record fourth-quarter net profit of NT$374.68 billion (US$11.37 billion), marking a 57% year-over-year increase, alongside a 39% revenue jump to NT$868.46 billion.</li><li>The company's gross margin rose to 59%, supported by high demand for advanced nodes despite challenges like ramp-up costs for its overseas facilities in the U.S. and Japan.</li></ul>

Taiwan Semiconductor Manufacturing Company (TSMC) closed 2024 on a high note, driven by robust demand for AI-related chips and its cutting-edge 3-nanometer and 5-nanometer technology nodes.The world’s largest contract chipmaker reported a record fourth-quarter net profit of NT$374.68 billion (US$11.37 billion), marking a 57% year-over-year increase, alongside a 39% revenue jump to NT$868.46 billion.The company's gross margin rose to 59%, supported by high demand for advanced nodes despite challenges like ramp-up costs for its overseas facilities in the U.S. and Japan.

How Taiwan Semiconductor (TSMC) Is Betting Big on AI & Winning The Global Chip Race!

Taiwan

Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits based on its proprietary designs.  The Company offers a comprehensive set of integrated circuit fabrication processes to manufacture CMOS logic, mixed-mode, volatile and non-volatile memory and BiCMOS chips.  Taiwan Semiconductor is an affiliate of Philips Electronics N.V.

TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

Tech Supply Chain Tracker (03-Feb-2025): India building own AI model by 2025

India aims to create its own foundational model by 2025, DeepSeek's founder transitions from stock prodigy to AI disruptor, while Cadence focuses...

Tech Supply Chain Tracker

Taiwan Tech Weekly: How Apple Helped TSMC Become #1; Also Morris Chang Comments on TSMC ADR Premium

Also: Performance of Snapdragon, AMD, and Intel in the PC monitor market; potential challenges for SK Hynix and Micron in the memory monitor...

Vincent Fernando, CFA

TSMC Forced Underweight, Alibaba Value Trap?

TSMC sees record high fund allocation, but EM funds hit limits and are forced to sell. Alibaba moved to the most widely held stocks among EM Value...

Steven Holden

Taiwan Dual-Listings Monitor: Dramatic Spreads Open Up After DeepSeek Rout & Taiwan Market Closure

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

How Taiwan Semiconductor (TSMC) Is Betting Big on AI & Winning The Global Chip Race!

Taiwan Semiconductor Manufacturing Company (TSMC) closed 2024 on a high note, driven by robust demand for AI-related chips and its cutting-edge...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tech Supply Chain Tracker (03-Feb-2025): India building own AI model by 2025

India aims to create its own foundational model by 2025, DeepSeek's founder transitions from stock prodigy to AI disruptor, while Cadence focuses...

Tech Supply Chain Tracker

Taiwan Tech Weekly: How Apple Helped TSMC Become #1; Also Morris Chang Comments on TSMC ADR Premium

Also: Performance of Snapdragon, AMD, and Intel in the PC monitor market; potential challenges for SK Hynix and Micron in the memory monitor...

Vincent Fernando, CFA

TSMC Forced Underweight, Alibaba Value Trap?

​TSMC sees record high fund allocation, but EM funds hit limits and are forced to sell. Alibaba moved to the most widely held stocks among EM Value...

Steven Holden

Taiwan Dual-Listings Monitor: Dramatic Spreads Open Up After DeepSeek Rout & Taiwan Market Closure

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

How Taiwan Semiconductor (TSMC) Is Betting Big on AI & Winning The Global Chip Race!

Taiwan Semiconductor Manufacturing Company (TSMC) closed 2024 on a high note, driven by robust demand for AI-related chips and its cutting-edge...

Baptista Research

TSMC sees record high fund allocation, but EM funds hit limits and are forced to sell. Alibaba moved to the most widely held stocks among EM Value...