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: TSMC's Market Share Keeps Rising; Semi Revenues Show AI the Only Pillar; AI PCs

Taiwan Dual-Listings Monitor: TSMC Set Up Opportunity During Taiwan Sesssion Ahead of Results Today

Why TSMC 3Q25 Indicates Strong AI Accelerator Demand Through 2029E; Maintain Structural Long Rating

Taiwan Dual-Listings Monitor: TSMC Premium Remains High Ahead of 3Q Results; CHT Rare ADR Discount

Taiwan Tech Weekly: OpenAI to Consume Nearly Half of Global DRAM; Why TSMC 2nm Will Be A Blockbuster

Taiwan Tech Weekly: Why Many Tech Companies Could Soon See Their Chip Costs Rise Substantially

Intel (INTC.US): AMD to Submit Foundry Orders to Intel? We Think It’s Highly Unlikely.

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) - ADR / Equity Bottom-Up

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

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC: +19% Premium; Good Level to Close Out for Those Short the ADR Spread</li>
<li>UMC: -3.9% Discount; Rare Deep Discount Good Level to Long the ADR Spread</li>
<li>ASE: -5.5% Discount; Any Spread Below Parity a Good Level to Long the ADR Spread</li>
</ul>


TSMC: +19% Premium; Good Level to Close Out for Those Short the ADR Spread
UMC: -3.9% Discount; Rare Deep Discount Good Level to Long the ADR Spread
ASE: -5.5% Discount; Any Spread Below Parity a Good Level to Long the ADR Spread


TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

Taiwan Dual-Listings Monitor: Weak US Friday Session Opens Up Wide Opportunities Across the Board