Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Micron's outlook for next quarter's margin will be key, provides good color on future margin for key Taiwan names</li>
<li>Intel conference could be catalyst for Intel Long/Short, CEO will be giving a keynote on company's new direction</li>
<li>AMD meeting many Taiwan-listed companies, Hon Hai EV platform closes new deal in Indonesia</li>
</ul>


Micron's outlook for next quarter's margin will be key, provides good color on future margin for key Taiwan names
Intel conference could be catalyst for Intel Long/Short, CEO will be giving a keynote on company's new direction
AMD meeting many Taiwan-listed companies, Hon Hai EV platform closes new deal in Indonesia


Taiwan Tech Weekly: Micron Forecasts This Week, Intel Conference, AMD CEO to Visit Taiwan Suppliers

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Sep 23rd which has an aggregated short interest worth USD12.3bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Eva Airways, Powerchip Semiconductor, AUO Corp, Formosa Plastics, Realtek, Yageo.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Sep 23rd which has an aggregated short interest worth USD12.3bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Eva Airways, Powerchip Semiconductor, AUO Corp, Formosa Plastics, Realtek, Yageo.


TWSE Short Interest Weekly (Sep 23rd): Eva Airways, Powerchip

<ul>
<li>Biden makes the most definitive statement to date that the US will defend Taiwan.</li>
<li>Texas Instruments hikes dividend, annouces additional buyback. Will other cash rich semiconductor stocks follow suit?</li>
<li>Intel vs. TSMC/UMC Trade Monitor: We look at performance streaks for the pairs. Intel outperforming over the last trading sessions.</li>
</ul>


Biden makes the most definitive statement to date that the US will defend Taiwan.
Texas Instruments hikes dividend, annouces additional buyback. Will other cash rich semiconductor stocks follow suit?
Intel vs. TSMC/UMC Trade Monitor: We look at performance streaks for the pairs. Intel outperforming over the last trading sessions.


Taiwan Tech Weekly: Biden Says US Will Defend Taiwan, Texas Instruments Gives Hope

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Sep 16th which has an aggregated short interest worth USD12.7bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in China Airlines, Powerchip, Formasa Plastics, Hon Hai, Alchip, Asustek, Yageo, Innolux.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Sep 16th which has an aggregated short interest worth USD12.7bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in China Airlines, Powerchip, Formasa Plastics, Hon Hai, Alchip, Asustek, Yageo, Innolux.


TWSE Short Interest Weekly (Sep 16th): Short Spikes For Formosa Plastics, Hon Hai

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>Semiconductor revenues continue to fall. which appears to be a repeat of the collapse in 2019</li>
<li>Spot market prices, a leading indicator, are soft for both DRAM and NAND flash</li>
<li>It is likely that semiconductor revenues will end the year by returning to the trendline of their historical growth of 3.9%</li>
</ul>


Semiconductor revenues continue to fall. which appears to be a repeat of the collapse in 2019
Spot market prices, a leading indicator, are soft for both DRAM and NAND flash
It is likely that semiconductor revenues will end the year by returning to the trendline of their historical growth of 3.9%


Semiconductors Just Beginning a Long Slide

Taiwan

United Microelectronics Corporation designs, manufactures, and markets integrated circuits (ICs) and related electronic products.  The Company's main products are consumer electronic ICs, memory ICs, personal computer peripheral ICs, and communication ICs.

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United Microelectronics Corp (2303 TT)

Taiwan Tech Weekly: Micron Forecasts This Week, Intel Conference, AMD CEO to Visit Taiwan Suppliers

Micron's outlook for next quarter's margin will be key, provides good color on future margin for key Taiwan names. AMD CEO to meet with many Taiwan...

Vincent Fernando, CFA

TWSE Short Interest Weekly (Sep 23rd): Eva Airways, Powerchip

We analyzed TWSE short interest report for the past week and highlight short interest changes in Eva Airways, Powerchip Semiconductor, AUO Corp,...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Biden Says US Will Defend Taiwan, Texas Instruments Gives Hope

Also: Intel vs. TSMC/UMC Trade Monitor: We look at performance streaks for the pairs. Intel outperforming over the last trading sessions.

Vincent Fernando, CFA

TWSE Short Interest Weekly (Sep 16th): Short Spikes For Formosa Plastics, Hon Hai

We analyzed TWSE short interest report for the past week and highlight short interest changes in China Airlines, Powerchip, Formasa Plastics, Hon...

Ke Yan, CFA, FRM

Semiconductors Just Beginning a Long Slide

The semiconductor market is falling and is likely to continue to drop through the end of the year. This presents an opportunity for shorts.

Jim Handy

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