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: IPhone 16 Sales Surge in China; Samsung's Strength Diluted Against TSMC’s Focus

Taiwan Tech Weekly: Apple Shifting AR Strategy After Meta Orion Showcase; Apple Supply Chain Monitor

NVIDIA's >5x YoY "Singapore" Revenue Growth Is A Red Flag

TSMC 3Q24: Capex & Margin Guidance Remains Strong; Explains Why AI Demand Not Overhyped; Stay Long

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

<ul>
<li>We identify key Taiwan-based Apple suppliers that have underperformed recently, and highlight which suppliers' revenue growth will outpace Apple in 2025E.</li>
<li>Rise of India -- Latest Apple data shows massive iPhone production growth in the country.</li>
<li>Apple's next-generation M5 chip will continue using TSMC's 3nm node, launching 2H25E; Supports that TSMC's 3nm process is expected to maintain strong demand even with the arrival of 2nm.</li>
</ul>


We identify key Taiwan-based Apple suppliers that have underperformed recently, and highlight which suppliers' revenue growth will outpace Apple in 2025E.
Rise of India -- Latest Apple data shows massive iPhone production growth in the country.
Apple's next-generation M5 chip will continue using TSMC's 3nm node, launching 2H25E; Supports that TSMC's 3nm process is expected to maintain strong demand even with the arrival of 2nm.


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

TSMC (Taiwan Semiconductor Manufacturing) - ADR

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

Appleサプライチェーンモニター：2025年には出遅れ企業がAppleを追い抜く、インドでiPhoneが急増、AI搭載の新型iMac