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: Taiwan's Space Tech Conference This Week; AI Driving New Humanoid Robot Industry

Taiwan Dual-Listings Monitor: TSMC Spread At Decent Short Level; UMC Short Interest Rises Again

Taiwan Tech Weekly: TSMC 2NM Yield Jump Rumors; Seeing Taiwan's Starlink Alternative Firsthand in KS

Taiwan Tech Weekly: Taiwan Firms to Surge U.S. Investment Due to Trump?; AI PCs & Memory Expansion

Taiwan Tech Weekly: New China Tech Restrictions Monday; PC Demand Commercial Vs. Consumer Disconnect

Taiwan Dual-Listings Monitor: TSMC Spread Approaching Short Level; UMC Short Interest Soars Higher

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>Gross Margins Aggregate Data - Shows Taiwan Semiconductor Companies Under Pressure</li>
<li>How TSMC and GlobalWafers show two very different margin environments; However everyone needs to manage rising energy costs into 2025E</li>
<li>Aggregate Inventory Levels -- Inventory Days Declining Trend is a Positive Sign</li>
</ul>


Gross Margins Aggregate Data - Shows Taiwan Semiconductor Companies Under Pressure
How TSMC and GlobalWafers show two very different margin environments; However everyone needs to manage rising energy costs into 2025E
Aggregate Inventory Levels -- Inventory Days Declining Trend is a Positive Sign


Taiwan Semiconductor Industry Aggregate Analysis: Margins Challenged; Inventory Data Positive