The Vietnamese stock market is witnessing a significant decline in technology stocks, particularly FPT and CMC Corp (CMG), with FPT dropping by 28% and CMG by over 34%. Notably, despite both companies announcing record profits, their stock prices continue to fall. In Q1 2025, FPT reported a pre-tax profit of 3,025 billion VND, a 19.4% increase compared to the previous year, and aims for 75,400 billion VND in revenue for 2025. Conversely, CMG also reported record profits for its fiscal year 2024-25. However, FPT faces challenges as its revenue growth from the foreign IT sector is slowing down due to unfavorable economic conditions in the U.S. SSI Research has concerns about FPT’s future growth prospects but remains optimistic about its profit outlook for 2025. In summary, despite high profits, technology stocks struggle to attract investment.
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