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

Taiwan Tech Weekly: Latest Key Results Add More Expectations for a 2H23E Turnaround

Taiwan Tech Weekly: HP Says No Major PC Recovery in 2023E; Signs of Display ICs Early Turn-Around?

PC Industry Monitor: Signs of Inventory Improvement at PC Industry's Leading Edge; Shares Diverged

Long Apple Vs. Short Quanta & Pegatron: Trade Ahead of Apple's Upcoming Earnings

Why Taiwan's Semiconductor and Hardware Forecasts Might Still Be Too Optimistic

Taiwan Tech Weekly: Balloon Incident Could Worsen China Restrictions & Key Earnings Readthroughs

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>Since our Long Apple vs. Short Quanta &amp; Pegatron piece, Apple has outperformed by 11.7% in USD-adjusted terms.</li>
<li>Apple has reported results recently, thus the next major events could be Quanta and Pegatron results.</li>
<li>Given Apple has outperformed by a significant amount, we believe the best of Apple's relative outperformance is done for the near-term. One can thus look for levels to unwind.</li>
</ul>


Since our Long Apple vs. Short Quanta &amp; Pegatron piece, Apple has outperformed by 11.7% in USD-adjusted terms.
Apple has reported results recently, thus the next major events could be Quanta and Pegatron results.
Given Apple has outperformed by a significant amount, we believe the best of Apple's relative outperformance is done for the near-term. One can thus look for levels to unwind.


Long Apple Vs. Short Quanta & Pegatron Update: Apple Outperformed 12%, Consider Unwind