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

TSMC: New Signals Underscore N2’s Rise as a Blockbuster Node

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

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

Taiwan Tech Weekly: Mediatek Eyes US Manufacturing, 40% Global Mkt Share; Micron Earnings Take-Aways

TSMC (2330.TT; TSM.US): 4Q25/2025 Outlook Could Outperform; 2nm Is Likely to Largest Adopted in 2026

Taiwan Tech Weekly: Starlink Engaging Chipmakers in Direct-To-Phone Push; Intel's TSMC Dependency

KYEC (2449.TT): The Recent Upward Momentum in the Share Price Has Been Driven by Strong Fundamentals

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: +28.3 Premium; Historically Extreme Level, Can Short the ADR Premium</li>
<li>UMC: +3.3% Premium; Historically Extreme Level, Short the ADR Premium </li>
<li>CHT: -0.7% Discount; Near Lower Bound, Consider Going Long the Spread</li>
</ul>


TSMC: +28.3 Premium; Historically Extreme Level, Can Short the ADR Premium
UMC: +3.3% Premium; Historically Extreme Level, Short the ADR Premium 
CHT: -0.7% Discount; Near Lower Bound, Consider Going Long the Spread


TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

대만 이중 상장 모니터: 대만 시장 휴장 이후 TSMC와 UMC 스프레드 상승