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: Hit Hard By AI/Tech Pullback; Watch UMC, Mediatek, Realtek, AMD, MSFT Earnings

UMC Signals Non-AI Industry Inventory Correction Through 2024E; Why Intel Is Increasingly Important

ASE Color Suggests Widening Performance Gap Between Leading-Edge and Mature Semiconductor Players

UMC (2303.TT; UMC.US): 3Q24 Sales Were Slightly Below Consensuses

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

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR (TSM US)

<ul>
<li>TSMC: Premium Breaks Back Down to +8.3%; 5-15% Could Now Be the Key Range</li>
<li>UMC: -2.2% Discount; Good Level to Go Long the Premium</li>
<li>ASE: Premium Breaks Down Again, Now Only +1.5%; Consider Going Long</li>
</ul>


TSMC: Premium Breaks Back Down to +8.3%; 5-15% Could Now Be the Key Range
UMC: -2.2% Discount; Good Level to Go Long the Premium
ASE: Premium Breaks Down Again, Now Only +1.5%; Consider Going Long


Taiwan Dual-Listings Monitor: TSMC and ASE Premiums Break Down Again; ASE Spread Near 1-Year Lows