Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

Taiwan Tech Weekly: Nvidia Conference; Samsung to Hike NAND Prices; TSMC Adding Capex Due to Demand

Hon Hai (Foxconn): After the 50% Surge, Where Can It Go From Here?

TSMC Snags US CHIPS Act Funding & Ups The Ante On Intel

Hon Hai AI Server Business Expected to Take Market Share 2H23E, Structural Long

Hon Hai's Margin Expansion Story Finally Starting to Be Realized? Results Imply Yes

Apple Partner Hon Hai Reports Weakest December Revenue In Years, But EV Growing; Buying Opportunity

A Bull Investment Case for TSMC (Summary Version)

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

Hon Hai Precision Industry / Equity Bottom-Up

<ul>
<li>Hon Hai's 4Q23 profit beat consensus and management has become more bullish on 2024E revenue thanks to demand for AI servers.</li>
<li>Guided 40% YoY growth expected for AI servers; Separately, Hon Hai reportedly could have won a major AI server order from HP Enterprise according to Digitimes.</li>
<li>Hon Hai shares are finally moving; We see room for continued upside based on re-rating of the company's valuation. Positive news flow potential through Nvidia's GTC conference next week.</li>
</ul>


Hon Hai's 4Q23 profit beat consensus and management has become more bullish on 2024E revenue thanks to demand for AI servers.
Guided 40% YoY growth expected for AI servers; Separately, Hon Hai reportedly could have won a major AI server order from HP Enterprise according to Digitimes.
Hon Hai shares are finally moving; We see room for continued upside based on re-rating of the company's valuation. Positive news flow potential through Nvidia's GTC conference next week.


Hon Hai: Beat & Raise; Further Valuation Upside; AI Server Product Announcements Next Week