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

TSMC's Q3 Earnings Preview: Investors to Eye AI Demand Boost, Margins in Focus

Taiwan Dual-Listings Monitor: TSMC Premium Holding Up; ASE & CHT See Sharp Drops

TSMC 3Q24: Capex & Margin Guidance Remains Strong; Explains Why AI Demand Not Overhyped; Stay Long

Taiwan Tech Weekly: Qualcomm Eyes Bold Intel Acquisition; Global Semi Sales Strength Continues

United Microelectronics: Intel Foundry Should Take a Stake; Latest News Makes This More Likely

Taiwan Dual-Listings Monitor: TSMC Premium Back Below 15%; ASE Short Interest Surging

NVIDIA's >5x YoY "Singapore" Revenue Growth Is A Red Flag

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: +18.6% Premium; Spread Has Returned to Previous Elevated Trading Range</li>
<li>UMC: +1.5% Premium; Wait for Higher Level Before Shorting the Spread</li>
<li>ASE: +4.2% Premium; Can Consider Going Long the Spread at Current Level</li>
</ul>


TSMC: +18.6% Premium; Spread Has Returned to Previous Elevated Trading Range
UMC: +1.5% Premium; Wait for Higher Level Before Shorting the Spread
ASE: +4.2% Premium; Can Consider Going Long the Spread at Current Level


Taiwan Dual-Listings Monitor: TSMC Spread Back to Elevated Range; ASE Short Interest Spikes Higher