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>Memory names have rallied strongly, with Nanya Tech outperforming since the start of November.</li>
<li>DRAM bottomed and NAND flash prices have jumped. Micron says that 2025E could be a record year for the Memory industry.</li>
<li>High valuations make near-term upside for Memory names uncertain. For Long/Shorts one can consider Long Micron vs. Short SK Hynix or Long Micron vs. Short Nanya Tech.</li>
</ul>


Memory names have rallied strongly, with Nanya Tech outperforming since the start of November.
DRAM bottomed and NAND flash prices have jumped. Micron says that 2025E could be a record year for the Memory industry.
High valuations make near-term upside for Memory names uncertain. For Long/Shorts one can consider Long Micron vs. Short SK Hynix or Long Micron vs. Short Nanya Tech.


Memory Monitor: Micron Expects 2025E to Be Best-Ever for Memory; But Valuations Have Run Up a Lot

Micron Technology

Memory Monitor: Micron Expects 2025E to Be Best-Ever for Memory; But Valuations Have Run Up a Lot