Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Hua Hong Grace Semiconductor (1347 HK) - Initiate with a SELL

Global Foundries (GFS US) - Initiate with a BUY: Photonics Foundry Behind AI's Bandwidth Problem

TSMC (2330 TW, TSN US) — Initiate with a BUY: Unchallengeable Monopoly, Moat, and the AI Backbone

Thematic (Sector/Industry)

Macau Semiconductors and semiconductor equipment / Thematic (Sector/Industry)

<ul>
<li>TSMC's CoWoS and 2nm GAA lead is structurally uncontested through 2028; AI capex compounds an already-unrivalled wafer and packaging monopoly.</li>
<li>Re-Rating catalyst is Q2 2026 earnings (TSMC 16 Jul, UMC 29 Jul, Hua Hong 6 Aug) testing whether fundamentals can support stock prices that have surged 200–500%.</li>
<li>Sector call: 2 BUY (TSMC, GlobalFoundries), 1 NEUTRAL (SMIC), 2 SELL (UMC, Hua Hong Grace).</li>
</ul>


TSMC's CoWoS and 2nm GAA lead is structurally uncontested through 2028; AI capex compounds an already-unrivalled wafer and packaging monopoly.
Re-Rating catalyst is Q2 2026 earnings (TSMC 16 Jul, UMC 29 Jul, Hua Hong 6 Aug) testing whether fundamentals can support stock prices that have surged 200–500%.
Sector call: 2 BUY (TSMC, GlobalFoundries), 1 NEUTRAL (SMIC), 2 SELL (UMC, Hua Hong Grace).


TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

SMIC (Semiconductor Manufacturing International Corp) (981 HK)

SMIC (Semiconductor Manufacturing International Corp)

Semiconductor Foundry Handbook 2026 — One Monopoly, Two Disconnected Valuations