Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mediatek-inc" target="_blank" data-smartkarma-citation="entities:772:1" rel="noopener">Mediatek Inc (2454 TT)'s</a> 3Q24 is expected to experience a quarter-on-quarter increase of about 5%.  </li>
<li>MediaTek is currently developing new processors based on Arm architecture and natively supporting the Microsoft Windows operating system.</li>
<li>It is believed that MediaTek will tape out with TSMC 3nm technology, targeting the 1H25 market.</li>
</ul>



Mediatek Inc (2454 TT)'s 3Q24 is expected to experience a quarter-on-quarter increase of about 5%.  
MediaTek is currently developing new processors based on Arm architecture and natively supporting the Microsoft Windows operating system.
It is believed that MediaTek will tape out with TSMC 3nm technology, targeting the 1H25 market.


MediaTek (2454.TT): 2Q24 Guidance Is Achievable; to Take Advantage of the AI PC Replacement Trend.

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>There are no constituent changes for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-semiconductor" target="_blank" data-smartkarma-citation="entities:32807:1" rel="noopener">VanEck Vectors Semiconductor (SMH US)</a> ETF in June but there are a lot of float and capping changes.</li>
<li>There is US$1bn to sell in <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> while there will be passive buying in <a href="https://www.smartkarma.com/entities/advanced-micro-devices-inc" target="_blank" data-smartkarma-citation="entities:19009:1" rel="noopener">Advanced Micro Devices (AMD US)</a> and <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a>. </li>
<li>The selling in <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> will offset part of the potential passive buying from <a href="https://www.smartkarma.com/entities/technology-select-sector-spdr" target="_blank" data-smartkarma-citation="entities:27543:1" rel="noopener">Technology Select Sector SPDR (XLK US)</a> and other similar ETFs.</li>
</ul>


There are no constituent changes for the VanEck Vectors Semiconductor (SMH US) ETF in June but there are a lot of float and capping changes.
There is US$1bn to sell in NVIDIA Corp (NVDA US) while there will be passive buying in Advanced Micro Devices (AMD US) and Intel Corp (INTC US). 
The selling in NVIDIA Corp (NVDA US) will offset part of the potential passive buying from Technology Select Sector SPDR (XLK US) and other similar ETFs.


MV US Listed Semiconductor 25 Index Rebalance: US$1bn to Sell in NVIDIA

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

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

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

<ul>
<li>Apple Announces New AI Features at WDC; Shares Surge to New All-Time Highs</li>
<li>Top Movers: Major Computex Exhibitors See Share Prices Fall Despite Strong Presence</li>
<li>Computex 2024: Chip Companies Notably Competing to Win PC Makers</li>
</ul>


Apple Announces New AI Features at WDC; Shares Surge to New All-Time Highs
Top Movers: Major Computex Exhibitors See Share Prices Fall Despite Strong Presence
Computex 2024: Chip Companies Notably Competing to Win PC Makers


Taiwan Tech Weekly: Apple Unveils New AI Capabilities at WDC; PC Makers Feel the Love from Chip CEOs

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

Thematic (Sector/Industry)

<ul><li>Paul Karazuba is the vice president of marketing at Expedera, an NPU IP startup in Silicon Valley.</li><li>NPU, or neural processing unit, is a key topic of discussion in the podcast, with its unique ability to process at a much lower wattage compared to CPU and GPU cores.</li><li>The necessity for dedicated NPU cores in running AI workloads, to allow CPU and GPU cores to focus on other tasks, is highlighted by both Paul and Austin.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Paul Karazuba is the vice president of marketing at Expedera, an NPU IP startup in Silicon Valley.NPU, or neural processing unit, is a key topic of discussion in the podcast, with its unique ability to process at a much lower wattage compared to CPU and GPU cores.The necessity for dedicated NPU cores in running AI workloads, to allow CPU and GPU cores to focus on other tasks, is highlighted by both Paul and Austin.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

<ul>
<li>Market Largely Influenced by Macro Trends and Nvidia Movements This Past Week</li>
<li>Key Events: Computex, Apple WDC, Key Taiwan May Revenue Releases</li>
<li>Apple (AAPL US) Is Overhauling Siri In Order to Create a Beautiful Voice-based AI Interface for the iPhone</li>
</ul>


Market Largely Influenced by Macro Trends and Nvidia Movements This Past Week
Key Events: Computex, Apple WDC, Key Taiwan May Revenue Releases
Apple (AAPL US) Is Overhauling Siri In Order to Create a Beautiful Voice-based AI Interface for the iPhone


Taiwan Tech Weekly: Computex & Apple WDC Imminent; Apple Releasing New AI Voice Interface for IPhone

United States

QUALCOMM, Inc . manufactures digital wireless communications equipment.  The Company licenses its code division multiple access (CDMA) and orthogonal frequency division multiplexing access intellectual property to other companies, and produces CDMA-based integrated circuits; and produces equipment and software used to track workers and assets; and software for wireless content enablement.

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Qualcomm Inc (QCOM US)

MediaTek (2454.TT): 2Q24 Guidance Is Achievable; to Take Advantage of the AI PC Replacement Trend.

MediaTek anticipates a 5% increase in 3Q24, developing new processors for Windows OS and planning to use TSMC 3nm technology in 1H25.

Patrick Liao

MV US Listed Semiconductor 25 Index Rebalance: US$1bn to Sell in NVIDIA

Capping changes in June result in an estimated one-way turnover of 5.2% and in a one-way trade of US$1.16bn. There is US$1bn to sell in NVIDIA and...

Brian Freitas

Taiwan Tech Weekly: Apple Unveils New AI Capabilities at WDC; PC Makers Feel the Love from Chip CEOs

Apple's new AI features at WDC lead to record high shares; major Computex exhibitors see share prices drop despite strong presence; chip companies...

Vincent Fernando, CFA

Episode 70!!! NPUs!!!!!!!!

In this podcast, Paul Karazuba discusses the importance of NPUs in chip design for efficient processing of AI workloads in battery-powered devices.

The Circuit

Taiwan Tech Weekly: Computex & Apple WDC Imminent; Apple Releasing New AI Voice Interface for IPhone

Key events this week include Computex, Apple WDC, and Taiwan revenue releases. Apple is revamping Siri to create a voice-based AI interface for the...

Vincent Fernando, CFA

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52-week Range

Market Cap (USDm)

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MediaTek (2454.TT): 2Q24 Guidance Is Achievable; to Take Advantage of the AI PC Replacement Trend.

​MediaTek anticipates a 5% increase in 3Q24, developing new processors for Windows OS and planning to use TSMC 3nm technology in 1H25.

Patrick Liao

MV US Listed Semiconductor 25 Index Rebalance: US$1bn to Sell in NVIDIA

Capping changes in June result in an estimated one-way turnover of 5.2% and in a one-way trade of US$1.16bn. There is US$1bn to sell in NVIDIA and...

Brian Freitas

Taiwan Tech Weekly: Apple Unveils New AI Capabilities at WDC; PC Makers Feel the Love from Chip CEOs

​Apple's new AI features at WDC lead to record high shares; major Computex exhibitors see share prices drop despite strong presence; chip companies...

Vincent Fernando, CFA

Episode 70!!! NPUs!!!!!!!!

In this podcast, Paul Karazuba discusses the importance of NPUs in chip design for efficient processing of AI workloads in battery-powered devices.

The Circuit

Taiwan Tech Weekly: Computex & Apple WDC Imminent; Apple Releasing New AI Voice Interface for IPhone

Key events this week include Computex, Apple WDC, and Taiwan revenue releases. Apple is revamping Siri to create a voice-based AI interface for the...

Vincent Fernando, CFA

MediaTek anticipates a 5% increase in 3Q24, developing new processors for Windows OS and planning to use TSMC 3nm technology in 1H25.

Apple's new AI features at WDC lead to record high shares; major Computex exhibitors see share prices drop despite strong presence; chip companies...