Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>The 2022 vintage of "5 High Conviction Ideas" had the weakest performance since 2017, with only China Shineway posting a positive return</li>
<li>Olam, Rex and Starhub all declined approximately 16% in FY22</li>
<li>Our 2023 vintage will hopefully perform better with 4 out of 5 favorites in the commodity space</li>
</ul>


The 2022 vintage of "5 High Conviction Ideas" had the weakest performance since 2017, with only China Shineway posting a positive return
Olam, Rex and Starhub all declined approximately 16% in FY22
Our 2023 vintage will hopefully perform better with 4 out of 5 favorites in the commodity space


Overview of My Winners and Losers in 2022...And 5 High Conviction Ideas Going into 2023

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>Broadcom FY22 results indicate strength in data centers, telco infrastructure, enterprise IT spending.</li>
<li>Hon Hai's Zhengzhou facility ends closed-loop operations, returning to a more normal state.</li>
<li>U.S. asking Japan to have its firms comply with U.S. chip restrictions on China.</li>
</ul>


Broadcom FY22 results indicate strength in data centers, telco infrastructure, enterprise IT spending.
Hon Hai's Zhengzhou facility ends closed-loop operations, returning to a more normal state.
U.S. asking Japan to have its firms comply with U.S. chip restrictions on China.


Taiwan Tech Weekly: Broadcom Results Provide Some Signs of Strength, Hon Hai Facility Ends Lockdown

Hon Hai Precision Industry / Equity Bottom-Up

<ul>
<li>Hon Hai's Zhengzhou iPhone plant to return to full production? Shares pop</li>
<li>Nanya Tech shares worst performers last week - We remain near-term negative</li>
<li>Intel &amp; TSMC trade flattish last week -- Intel currently at UBS's TMT conference</li>
</ul>


Hon Hai's Zhengzhou iPhone plant to return to full production? Shares pop
Nanya Tech shares worst performers last week - We remain near-term negative
Intel &amp; TSMC trade flattish last week -- Intel currently at UBS's TMT conference


Taiwan Tech Weekly: Hon Hai IPhone Plant Recovery, Nanya Slumps, Intel Foundry Potential in 2023

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>Intel has eked out a small outperformance vs. TSMC most recently, and we believe there is more to come.</li>
<li>Events appear to be in Intel's favor in the near-term.</li>
<li>TSMC has outperformed by a historically extreme amount in just three weeks.</li>
</ul>


Intel has eked out a small outperformance vs. TSMC most recently, and we believe there is more to come.
Events appear to be in Intel's favor in the near-term.
TSMC has outperformed by a historically extreme amount in just three weeks.


Intel Vs. TSMC Monitor: TSMC Outperformed Too Much Too Soon?

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

<ul>
<li>The current semiconductor market meltdown can be expected to continue through the end of 2024</li>
<li>This will reduce 2022 market growth to 5%, and will drive a decline of 19% in 2023</li>
<li>Stocks will be unevenly influenced by this, with the most dramatic declines hitting makers of volume commodities, smaller declines in differentiated products, and a weak impact on older technology products.</li>
</ul>


The current semiconductor market meltdown can be expected to continue through the end of 2024
This will reduce 2022 market growth to 5%, and will drive a decline of 19% in 2023
Stocks will be unevenly influenced by this, with the most dramatic declines hitting makers of volume commodities, smaller declines in differentiated products, and a weak impact on older technology products.


2023 High Conviction: Semiconductor Down Market

United States

Intel Corporation designs, manufactures, and sells computer components and related products.  The Company's major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Intel Corp (INTC US)

Overview of My Winners and Losers in 2022...And 5 High Conviction Ideas Going into 2023

Our FY22 vintage of High Conviction Ideas had its weakest performance since FY17. We hope for better returns for our commodity-focused FY23 selection.

Nicolas Van Broekhoven

Taiwan Tech Weekly: Broadcom Results Provide Some Signs of Strength, Hon Hai Facility Ends Lockdown

Broadcom FY22 results indicate strength in data centers, telco infrastructure, enterprise IT spending. U.S. asks Japan to comply with China chip...

Vincent Fernando, CFA

Taiwan Tech Weekly: Hon Hai IPhone Plant Recovery, Nanya Slumps, Intel Foundry Potential in 2023

Intel & TSMC trade flattish last week -- Intel currently at UBS's TMT conference. Reuters reports that Hon Hai's Zhengzhou facility is recovering.

Vincent Fernando, CFA

Intel Vs. TSMC Monitor: TSMC Outperformed Too Much Too Soon?

TSMC has outperformed by a historically extreme amount in just three weeks. Intel may attract value and contrarian buyers through year-end.

Vincent Fernando, CFA

2023 High Conviction: Semiconductor Down Market

What's happening in semiconductors? When will the downturn end? What does this mean to chip stock prices? This Insight provides some concrete...

Jim Handy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)