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

PC Monitor: Promising Uptake of Microsoft Copilot and AI Services; Remain Structurally Long

Asustek & Acer Key Takeaways: Strong July Revenue Growth and 'New Product Life Cycle' Starting 3Q24

Taiwan Tech Weekly: Watch Hon Hai & Zhen Ding Guidance for Servers, AI PCs/Mobiles, and IPhone 16

PC Monitor: Growth Expectations Have Increased Recently; HPE Signals Enterprise AI Acceleration

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

PC Monitor: The Next Version of MSFT CoPilot Will Be the Killer App for a Global AI PC Upgrade Cycle

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>PC Maker Shares Under Pressure -- PC makers' share prices fell by mid-to-high single digits during July. However, pure PC exposure outperformed as shown by HPQ's gain during the month.</li>
<li>Latest PC Industry Data is Promising -- Latest IDC data shows that global PC shipments increased 3% YoY in 2Q24, and are up 5% YoY ex-China.</li>
<li>Microsoft &amp; Taiwan PC Maker Earnings Ahead -- Microsoft reports July 30th U.S. time. We expect Taiwan PC makers to report earnings within the first two weeks of August.</li>
</ul>


PC Maker Shares Under Pressure -- PC makers' share prices fell by mid-to-high single digits during July. However, pure PC exposure outperformed as shown by HPQ's gain during the month.
Latest PC Industry Data is Promising -- Latest IDC data shows that global PC shipments increased 3% YoY in 2Q24, and are up 5% YoY ex-China.
Microsoft &amp; Taiwan PC Maker Earnings Ahead -- Microsoft reports July 30th U.S. time. We expect Taiwan PC makers to report earnings within the first two weeks of August.


PC Monitor: MSFT Results Imminent; Look for Copilot Progress; Taiwan PC Makers Show Healthy Growth

Asustek Computer

PC Monitor: MSFT Results Imminent; Look for Copilot Progress; Taiwan PC Makers Show Healthy Growth