The Vietnamese stock market is witnessing a downturn among tech stocks like FPT and CMC Corp (CMG), despite both companies reporting record profits. FPT has fallen by 28%, and CMG has lost over 34% of its value, while the VN-Index decreased only by 2%. In Q1 2025, FPT reported a profit of 3,025 billion VND, a 19.4% increase from last year, marking its highest profit ever. FPT has continuously broken its quarterly profit records and aims for a revenue target of 75.4 trillion VND for 2025. CMC Corp also reported a record profit of 104 billion VND in Q4. However, both companies face challenges with slowing revenue growth, especially from the US market. While global tech stocks remain an investment trend, in Vietnam, only FPT stands out as there are few companies capable of drawing significant investment.
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