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

Equity Bottom-Up

<ul>
<li>Apple Set to Launch iPhone SE 4 and Updated iPad Air in Early 2025: Key Developments to Watch</li>
<li>META's Orion AR Glasses: Next Major Computing Platform After the Smartphone?</li>
<li>Apple Supply Chain Monitor: Key IPhone Suppliers Didn't Rally With Apple; Opportunity for Rebound?</li>
</ul>


Apple Set to Launch iPhone SE 4 and Updated iPad Air in Early 2025: Key Developments to Watch
META's Orion AR Glasses: Next Major Computing Platform After the Smartphone?
Apple Supply Chain Monitor: Key IPhone Suppliers Didn't Rally With Apple; Opportunity for Rebound?


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

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

International Business Machines / Equity Bottom-Up

<ul><li>Liquid cooling solutions for AI servers are evolving rapidly to provide more efficient and effective cooling for high-performance computing needs.</li><li>L&amp;T Semicon in India plans to mass produce its first chip within the next two years, showing growth and innovation in the semiconductor industry.</li><li>Taiwan is focusing on modular, intelligent, and collaborative robotics solutions for niche markets, with a shift away from humanoids in its approach to robotics.</li></ul>

Liquid cooling solutions for AI servers are evolving rapidly to provide more efficient and effective cooling for high-performance computing needs.L&amp;T Semicon in India plans to mass produce its first chip within the next two years, showing growth and innovation in the semiconductor industry.Taiwan is focusing on modular, intelligent, and collaborative robotics solutions for niche markets, with a shift away from humanoids in its approach to robotics.

Tech Supply Chain Tracker (02-Oct-2024): AI server liquid cooling status: efficient or not?

<ul><li>Intel's EUR10 billion semiconductor plant in Germany faces delays due to budget battles over chips and batteries, impacting the nation's technology sector and economic growth.</li><li>Taiwan's luxury car market growth reflects its prosperous economy, while the country continues to prioritize a nuclear-free energy agenda despite increasing energy needs.</li><li>AI is revolutionizing nuclear energy production, enhancing efficiency and safety, leading to innovative developments in the industry and heightened global interest. StarLux Airlines is boosting Taiwan's role as a transit hub in Asia amidst evolving global dynamics.</li></ul>

Intel's EUR10 billion semiconductor plant in Germany faces delays due to budget battles over chips and batteries, impacting the nation's technology sector and economic growth.Taiwan's luxury car market growth reflects its prosperous economy, while the country continues to prioritize a nuclear-free energy agenda despite increasing energy needs.AI is revolutionizing nuclear energy production, enhancing efficiency and safety, leading to innovative developments in the industry and heightened global interest. StarLux Airlines is boosting Taiwan's role as a transit hub in Asia amidst evolving global dynamics.

Tech Supply Chain Tracker (01-Oct-2024): Intel's EUR10B plant stalls in Germany.

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Tier 2 foundry revenue recovery is taking far longer than most expected. </li>
<li>Globalfoundries 2024 CapEx is less than one tenth of what SMIC is spending. Even Hua Hong is spending more. This makes investors nervous.</li>
<li>Globalfoundries CapEx strategy is a pragmatic one and will pay dividends in the years to come</li>
</ul>


Tier 2 foundry revenue recovery is taking far longer than most expected. 
Globalfoundries 2024 CapEx is less than one tenth of what SMIC is spending. Even Hua Hong is spending more. This makes investors nervous.
Globalfoundries CapEx strategy is a pragmatic one and will pay dividends in the years to come


GlobalFoundries. Share Price Down 17% Below IPO Price & Down 30% Since July. But Why?

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

<ul>
<li>TSMC: +14.2% Premium; Can Consider Going Long at Current Level</li>
<li>UMC: +1.8% Premium; The ADR Headroom Has Decreased Yet Again</li>
<li>ASE: +5.4% Premium; Short Interest Surging for The Local Shares</li>
</ul>


TSMC: +14.2% Premium; Can Consider Going Long at Current Level
UMC: +1.8% Premium; The ADR Headroom Has Decreased Yet Again
ASE: +5.4% Premium; Short Interest Surging for The Local Shares


Taiwan Dual-Listings Monitor: TSMC Premium Back Below 15%; ASE Short Interest Surging

Taiwan

Taiwan Semiconductor Manufacturing Company, Ltd. manufactures and markets integrated circuits. The Company provides the following services: wafer manufacturing, wafer probing, assembly and testing, mask production, and design services. TSMC's ICs are used in computer, communication, consumer electronics, automotive, and industrial equipment industries.

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Taiwan Semiconductor (TSMC) (2330 TT)

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

Apple is set to launch new iPhone SE 4 and iPad Air in 2025, Meta's Orion AR Glasses could be the next big thing, and Apple is being forced to react.

Vincent Fernando, CFA

Tech Supply Chain Tracker (02-Oct-2024): AI server liquid cooling status: efficient or not?

Liquid cooling solutions for AI servers are evolving rapidly, L&T Semicon plans mass production of first chip, Win Win Precision excels in solar...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (01-Oct-2024): Intel's EUR10B plant stalls in Germany.

Intel's semiconductor plant in Germany faces delay due to chip and battery budget battle, Taiwan's luxury car market thrives, AI boosts nuclear...

Tech Supply Chain Tracker

Taiwan Dual-Listings Monitor: TSMC Premium Back Below 15%; ASE Short Interest Surging

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

​Apple is set to launch new iPhone SE 4 and iPad Air in 2025, Meta's Orion AR Glasses could be the next big thing, and Apple is being forced to react.

Vincent Fernando, CFA

Tech Supply Chain Tracker (02-Oct-2024): AI server liquid cooling status: efficient or not?

Liquid cooling solutions for AI servers are evolving rapidly, L&T Semicon plans mass production of first chip, Win Win Precision excels in solar...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (01-Oct-2024): Intel's EUR10B plant stalls in Germany.

Intel's semiconductor plant in Germany faces delay due to chip and battery budget battle, Taiwan's luxury car market thrives, AI boosts nuclear...

Tech Supply Chain Tracker

GlobalFoundries. Share Price Down 17% Below IPO Price & Down 30% Since July. But Why?

GFS 2024 Capex less than 10% of SMIC's Capex. It's a pragmatic & strategic approach, likely to be the right one in the long run.

William Keating

Taiwan Dual-Listings Monitor: TSMC Premium Back Below 15%; ASE Short Interest Surging

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Apple is set to launch new iPhone SE 4 and iPad Air in 2025, Meta's Orion AR Glasses could be the next big thing, and Apple is being forced to react.