Managing Director, Zero One, Zero One

Vincent Fernando, CFA

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

Managing Director, Zero One

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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>Micron last week reported an 84.9% gross margin and guided next-quarter revenue near US$50bn, and foreign brokers raised targets across Taiwan's memory makers as the shortage runs past 2027.</li>
<li>Foreign investors net sold a record NT$177.4bn of Taiwan stocks on June 24, even as Taiwan's May export orders rose 47% year on year for a 16th straight month.</li>
<li>Korea unveiled a combined US$1.3tn, decade-long chip plan, and Samsung and SK Hynix shares fell on June 29 as investors weighed heavy capex against near-term cash returns.</li>
</ul>


Micron last week reported an 84.9% gross margin and guided next-quarter revenue near US$50bn, and foreign brokers raised targets across Taiwan's memory makers as the shortage runs past 2027.
Foreign investors net sold a record NT$177.4bn of Taiwan stocks on June 24, even as Taiwan's May export orders rose 47% year on year for a 16th straight month.
Korea unveiled a combined US$1.3tn, decade-long chip plan, and Samsung and SK Hynix shares fell on June 29 as investors weighed heavy capex against near-term cash returns.


TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

Taiwan Tech Weekly: Micron Guides Memory to US$50bn, Korea's US$1.3tn Bet Sends Memory Shares Lower