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 Dual-Listings Monitor: TSMC Trading Range Breakdown? ChipMOS Discount Rare Long Opportunity

Taiwan Tech Weekly: If TSMC Joins Intel for Foundry, It Will Entrench Dominance; Structural Long

Taiwan Dual-Listings Monitor: TSMC Spread Rebounds; ChipMOS Local Short Interest Spiking

Taiwan Tech Weekly: OpenAI Developing Alternative to Nvidia with TSMC; Hon Hai Guides Strong 1Q25E

TSMC (2330.TT; TSM.US): TSMC Held Press Conference Regarding Further Investment of USD$100bn in US.

Taiwan Tech Weekly: TSMC's Expansion Visualized; Implications of New U.S. Investment; New HBM Memory

Taiwan Dual-Listings Monitor: TSMC's Range Declining; ASE Near Parity; ChipMOS Rare Discount

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 just held a press conference this evening in Taiwan regarding its expanded U.S. investment plans. TSMC said it won't impact Taiwan investments; it is actually accelerating its Taiwan investments.</li>
<li>Additionally, we see TSMC's aggressive U.S. expansion significantly weakening Intel's ability to compete, as it removes one of Intel’s major differentiators--domestic U.S. production.</li>
<li>Maintain Structural Long rating on TSMC -- Expanded U.S. investment fortifies the company’s global leadership. ALSO -- Positive news for semiconductor manufacturing equipment companies internationally and in Taiwan. ASML, etc.</li>
</ul>


TSMC just held a press conference this evening in Taiwan regarding its expanded U.S. investment plans. TSMC said it won't impact Taiwan investments; it is actually accelerating its Taiwan investments.
Additionally, we see TSMC's aggressive U.S. expansion significantly weakening Intel's ability to compete, as it removes one of Intel’s major differentiators--domestic U.S. production.
Maintain Structural Long rating on TSMC -- Expanded U.S. investment fortifies the company’s global leadership. ALSO -- Positive news for semiconductor manufacturing equipment companies internationally and in Taiwan. ASML, etc.


TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

TSMC Addresses U.S. Expansion Concerns: Strengthens TSMC Position & Positive for Semi Industry Capex