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

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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>Elan is positioned to win from a coming PC upgrade cycle, which has been indicated by companies such as Micron, Microsoft, Intel, and Asustek among others.</li>
<li>Elan is one of the institutionally most-underheld shares in our universe based on our analysis. Windows 11 adoption has been rising and will accelerate with a PC upgrade cycle.</li>
<li>We've updated our Elan model, we continue to rate the shares Outperform and have a NT$142 target price. Moreover, the stock's past all time remains 65% above current share price.</li>
</ul>


Elan is positioned to win from a coming PC upgrade cycle, which has been indicated by companies such as Micron, Microsoft, Intel, and Asustek among others.
Elan is one of the institutionally most-underheld shares in our universe based on our analysis. Windows 11 adoption has been rising and will accelerate with a PC upgrade cycle.
We've updated our Elan model, we continue to rate the shares Outperform and have a NT$142 target price. Moreover, the stock's past all time remains 65% above current share price.


Elan Microelectronics: Positioned to Win from PC Upgrade Cycle; Massively Underheld by Institutions