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

Memory Monitor: Latest Two Signals Show Inventory Problems Worsening; Long Micron Vs. Short Nanya

Hon Hai Precision: Nvidia Chip Partnership Shows Emerging EV Advantage, Apple Issues Improving; Buy

Taiwan Tech Weekly: Latest Key Results Add More Expectations for a 2H23E Turnaround

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

Novatek Microelectronics Corp / Equity Bottom-Up

<ul>
<li>Hon Hai reports YoY increase in January + February sales, maintains outlook.</li>
<li>Hewlett Packard results: CEO says does not expect significant PC recovery in FY2023E. Fitipower results show display ICs potentially bottoming earlier than most segments.</li>
<li>Memory Monitor: Two latest signals indicate lower margins and extended high inventories; biased Long Micron vs. Short Nanya Tech.</li>
</ul>


Hon Hai reports YoY increase in January + February sales, maintains outlook.
Hewlett Packard results: CEO says does not expect significant PC recovery in FY2023E. Fitipower results show display ICs potentially bottoming earlier than most segments.
Memory Monitor: Two latest signals indicate lower margins and extended high inventories; biased Long Micron vs. Short Nanya Tech.


Fitipower Integrated Technology (4961 TT)

Taiwan Tech Weekly: HP Says No Major PC Recovery in 2023E; Signs of Display ICs Early Turn-Around?