Stock group technology, telecommunications, continuous decrease from the beginning of the year, despite the general market goes up and business results upbeat first quarter of the year.
Conglomerate, FPT brings about 3.025 billion profit before tax in the first quarter of 2025, increasing to 19.4% compared with the same period a year ago. This is a record profit that new business is achieved. Not only FPT, in the last quarter, a number of businesses in the technology industry, telecommunications also growth in terms of profitability.
Jsc Telecommunications FPT (FPT Telecom) recorded rate new record, reaching 967 billion, an increase of 17%. Corporation CMC growth in the previous quarter and there are big profits in history in the fiscal 2024-2025, at 502 billion.
Interest, but stocks of technology companies, telecommunications were lower than the general market. From the beginning of the year, the VN-Index has increased nearly 4%, to reach 1.313 point, but the stock this group back down to tens of percent. For example, FPT has decreased by 23%, CMG go down 32% or the rate CTR lose 27,7%...
Compared with day 9/4 – the last market decline due to the impact from tariffs of America, the technology shares also not recovered by the VN-Index. FPT, CMG, CTR were restored about 10% after the “fall” from day 9/4 but the VN-Index has increased by more than 20% in the same period of time.
Tell VnExpresshe Parked Bao Ngoc, Deputy general director of Public joint Stock company established in Vietnam (CSI) for that the stock technology, telecommunication has increased sharply in the year 2024, attracted large cash flows. This makes price index market returns on a stock (P/E) of some of the code in this branch is at a high level.
In the year 2024, many technology stocks, telecommunications, recorded high growth rates. For example, FPT has increased by almost 82% CTR increase of 41% or CMG increased by 26%, thereby P/E of this code, touch the threshold of 20-30 times.
He Ngoc identify the P/E of this group was higher than the general market, about 12 times. “Although technology stocks, telecommunications adjustable but the price is still high compared with the general population. The rise in the year 2024 has reflected their full potential, the story of this group,” the expert from the CSI said.
Mr. Nguyen The Minh, director of Research and development of the customer's personal Stock Yuanta Vietnam also have the same identification. This expert said that with the rise in the year 2024, the code in group technology, telecommunications have become the “super stock”. So, after the “super stock”, code which will also have the adjustment period, create price new.
A cause of the stock group technology, telecommunications, come down this year is the dispersion of cash flows. According to mr. Nguyen The Minh, last year, the VN-Index hovers around 1200 to 1300 points, prove cash flow of investors focus only in a small number of industry groups, which have the technology and telecommunications.
2025, the tendency to buy technology stocks no longer, investors have been disbursed to other groups that do not focus on just one industry. “The cash flow of investors this year stretches in many fields such as real estate, banking, stock... instead of just technology telecommunications as last year,” said The Union said.
From the beginning of the year, stock market have many stock increased by tens of percent, extending in many industry groups and exceeded the increase of VN-Index as VIC, VHM, VPL, NVL (real estate), TCB, STB, SHB (the bank), or VIX, VND, CTS (stock). Out of this don't have the code group technology, telecommunications.
In addition to these causes, mr. Nguyen The Minh said some tech companies also invest abroad, in markets such as Japan, America... However, the GDP of many markets fell in the first quarter, making the “money” from these countries will be more difficult. This makes the possibility of growth of group technology affected.
For example, FPT, in the first quarter of 2025, the overseas market accounted for half the revenues of this business. In it, the two largest market is Japan and the united states. However, also in the first quarter of the year, the GDP of Japan was down 0.2%, while the Us GDP growth by 0.3%.
In year 4 this year, FPT reported net profit increased by only 10%, while the previous quarter was around 20%. According to FPT, the context is not currently recorded signal markedly improved due to economic uncertainty and geopolitical continue to make global businesses become more cautious in spending decisions for information technology.
According to mr. Nguyen The Minh, is not the point spurt of group technology, telecommunications. Technology stock will fit over the popular long-term investment, instead of surfing. However, the “down payment” with this group will not optimal capital at the present time.
Experts from Yuanta also said that investors want to buy shares, technology, telecommunications should wait for this group discount added. “I believe that the decline stock these two groups can't stop,” said The Union said.
Also with mr. Park Bao Ngoc, instead of choosing technology group investors should be redirected to the industry group the other has the lower price. He, for example banks, some code has P/E below the 12 times of market, good liquidity, maintaining big profits stable. A number of the tape has a P/E of less than 12 times as SHB, TCB, VCB, CTG...
This expert said the market each year has a theme to investment. The “bright star” is the stock “they Vingroup” featuring VIC, VHM, VPL, VRE... or the investment group public – sector benefit thanks to the government to promote the project across the country. Mr. Pearl also get the stock technology, telecommunications, is still fascinating stories in the future, but the current price is still high.
Source: vnexpress.net