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

We See TSMC's Margins Increasing Much Higher Than Guidance in Long-Term; 2Q24 Shows Apple Ramping Up

TSMC Shatters Q2 Expectations Bolstered by Strong AI Chip Demand

Taiwan Tech Weekly: Apple Hikes TSMC Orders on Strong IPhone 16 Hopes; Google Shifts AI Chip to TSMC

Taiwan Tech Weekly: TSMC Sales Beat High Expectations; Wiwynn GDR Offering; IPhone 17 to Use 2nm

Taiwan Dual-Listings Monitor: TSMC Spread on Brink of Falling to Past Levels; UMC Extreme Premium

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

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

Taiwan Semiconductor (TSMC) - ADR (TSM US)

<ul>
<li>TSMC: +17.9% Premium; Rebounds After Brief Breakdown; Wait for Better Levels</li>
<li>UMC: +1.8% Premium; Can Consider Shorting the Premium at Current Level</li>
<li>ASE: +5.5% Premium Represents a Major Breakdown; Can Consider Going Long</li>
</ul>


TSMC: +17.9% Premium; Rebounds After Brief Breakdown; Wait for Better Levels
UMC: +1.8% Premium; Can Consider Shorting the Premium at Current Level
ASE: +5.5% Premium Represents a Major Breakdown; Can Consider Going Long


Taiwan Dual-Listings Monitor: TSMC Rebounds After Sharp Breakdown; ASE Major Premium Breakdown