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: Rapidus's Challenge Vs. TSMC for 2nm; Hon Hai Hunting for Automaker Acquisition

Taiwan Dual-Listings Monitor: TSMC ADR Spread Near All-Time Highs; UMC at Upper End of Range

TSMC (2330.TT; TSM.US): If Intel Was Split Up, What Impact Will It Have on the Foundry Industry?(II)

The US-China Trade War Is Likely to Split the Semiconductor Industry into Two Groups.

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: +21.1% Premium; Spread Has Fallen From Previous Short Levels, Remains Elevated</li>
<li>UMC: -0.3% Discount; Middle of the Historical Trading Range, Not Compelling</li>
<li>ChipMOS: -1.2% Discount; Wait for Deeper Discount Before Going Long</li>
</ul>


TSMC: +21.1% Premium; Spread Has Fallen From Previous Short Levels, Remains Elevated
UMC: -0.3% Discount; Middle of the Historical Trading Range, Not Compelling
ChipMOS: -1.2% Discount; Wait for Deeper Discount Before Going Long


Taiwan Dual-Listings Monitor: TSMC Spread Decline from Near Historical Highs; ChipMOS Discount