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

3Q24 PC Shipments Are Flat YoY. Lenovo, Acer, Asus. Compal, Quanta, Wistron.

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

PC Monitor: Microsoft Copilot Wave 2 Unveils Major AI Boost; Reiterate Structural Long for PC Makers

TechChain Insights: Call with Elan Micro; AI PC Significant Uptake 4Q24/1H25; Supply Chain Preparing

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

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 Micro reported September revenue on October 7th; 3Q24 revenue has come in at the high end of management's guidance.</li>
<li>Management reiterated that they expect AI PCs to drive a growth acceleration for the PC industry starting in 4Q24E/1Q25E.</li>
<li>Reiterate Structural Long rating for Elan Micro; the company remains well positioned to benefit from an AI PC-driven PC upgrade cycle.</li>
</ul>


Elan Micro reported September revenue on October 7th; 3Q24 revenue has come in at the high end of management's guidance.
Management reiterated that they expect AI PCs to drive a growth acceleration for the PC industry starting in 4Q24E/1Q25E.
Reiterate Structural Long rating for Elan Micro; the company remains well positioned to benefit from an AI PC-driven PC upgrade cycle.


PC Monitor: Elan Sales Hit Guidance High End; Expects Significant PC Industry Growth 4Q24E/1Q25E