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 Tech Weekly: TSMC a Hidden Capacity Risk for Apple; Memory Pair Long/Short Opportunity

Taiwan Dual-Listings Monitor: TSMC Premium Breaks Down Again; ASE Rare Near-Parity Level

Taiwan Tech Weekly: Samsung Planning to Leapfrog TSMC 2nm in the U.S.; Why Long TSMC Vs. Short UMC

A Potential Listing of ADRs for SK Hynix Using Its Treasury Shares?

Taiwan Tech Weekly: TSMC's Next Node Already Sold Out Before Any Mass Production

Taiwan Tech Weekly: Industry Moves Show Silicon Photonics Becoming Must-Have for Next Gen Compute

Micron: Nov-25 Beat by 30%, Feb-26 Guidance 80% Above Consensus

Taiwan Dual-Listings Monitor: TSMC Historically High Premium Cracks; ChipMOS & CHT Opportunities

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>
<strong>LONG <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a></strong> -- Positioned for earnings growth durability through 2026E-2027E, anchored by high bandwidth memory (HBM), high-performance DDR5, and AI server memory content expansion.</li>
<li>
<strong>SHORT <a href="https://www.smartkarma.com/entities/nanya-technology-corp" target="_blank" data-smartkarma-citation="entities:3269:1" rel="noopener">Nanya Technology (2408 TT)</a></strong> -- Rallied sharply as older DDR4 memory prices spiked, driven by end-of-life supply behavior and panic-buying dynamics, which will normalize as the supply side responds.</li>
<li>Large divergence in product mix quality and of consensus growth forecasts' resilience to potential market swings favors a Long <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a> vs. Short <a href="https://www.smartkarma.com/entities/nanya-technology-corp" target="_blank" data-smartkarma-citation="entities:3269:1" rel="noopener">Nanya Technology (2408 TT)</a> position.</li>
</ul>



LONG SK Hynix (000660 KS) -- Positioned for earnings growth durability through 2026E-2027E, anchored by high bandwidth memory (HBM), high-performance DDR5, and AI server memory content expansion.

SHORT Nanya Technology (2408 TT) -- Rallied sharply as older DDR4 memory prices spiked, driven by end-of-life supply behavior and panic-buying dynamics, which will normalize as the supply side responds.
Large divergence in product mix quality and of consensus growth forecasts' resilience to potential market swings favors a Long SK Hynix (000660 KS) vs. Short Nanya Technology (2408 TT) position.


SK vs. Nanya 롱/숏 전략: AI 메모리 시장의 선두주자가 기존 DRAM의 마지막 경기 정점을 뛰어넘을 전망