Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years experience researching capital markets across Asia and the USA.

Managing Director, Zero One

Taiwan Dual-Listings Monitor: Taiwan Domestic Investors' Relative Bullishness Is an Opportunity

Taiwan Dual-Listings Monitor: Deep ADR Discounts Unlikely to Persist

Taiwan Tech Weekly: COMPUTEX Drives TSMC to Records, Then a US$1.3tn AI Selloff

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

Taiwan April Sales Signals: AI Server Ramp Sustains & Memory Cycle Bleeds Into PC OEMs

Taiwan Dual-Listings Monitor: Rare Opportunities Open Up in TSMC & UMC

TechChain Insights Q&A: Inside TSMC, Intel and SMIC's Advanced-Node Pipeline - M31 (6643 TT)

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) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>TSMC: +10.2% Premium; Below -1 SD Band; Long the ADR Spread</li>
<li>UMC: -8.3% Discount; Below -1 SD Band; Long the ADR Spread</li>
<li>ASE: -11.3% Discount; Below -1 SD Band; Long the ADR Spread</li>
</ul>


TSMC: +10.2% Premium; Below -1 SD Band; Long the ADR Spread
UMC: -8.3% Discount; Below -1 SD Band; Long the ADR Spread
ASE: -11.3% Discount; Below -1 SD Band; Long the ADR Spread


TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

Taiwan Dual-Listings Monitor: TSMC, UMC, ASE and ChipMOS All Signal Long the ADR Spread