{"id":302431,"date":"2025-07-11T23:19:59","date_gmt":"2025-07-11T23:19:59","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/viettel-stock-code-2\/"},"modified":"2025-07-11T23:19:59","modified_gmt":"2025-07-11T23:19:59","slug":"viettel-stock-code","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/viettel-stock-code\/","title":{"rendered":"M\u00e3 c\u1ed5 phi\u1ebfu Viettel: 2025 Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 v\u1edbi l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng 18-25%"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":50,"featured_media":193539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20],"tags":[28,39,45],"class_list":["post-302431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading","tag-investment","tag-platform","tag-stock"],"acf":{"h1":"Pocket Option ti\u1ebft l\u1ed9 4 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho m\u00e3 c\u1ed5 phi\u1ebfu viettel v\u1edbi l\u1ee3i nhu\u1eadn 18-25% v\u00e0o n\u0103m 2025","h1_source":{"label":"H1","type":"text","formatted_value":"Pocket Option ti\u1ebft l\u1ed9 4 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho m\u00e3 c\u1ed5 phi\u1ebfu viettel v\u1edbi l\u1ee3i nhu\u1eadn 18-25% v\u00e0o n\u0103m 2025"},"description":"M\u00e3 c\u1ed5 phi\u1ebfu Viettel - Ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n v\u1ec1 CTR, VTX v\u1edbi d\u1eef li\u1ec7u t\u00e0i ch\u00ednh qu\u00fd 1\/2025 v\u00e0 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 \u0111\u1ec3 th\u1ef1c hi\u1ec7n trong th\u00e1ng N\u0103m n\u00e0y t\u1eeb c\u00e1c chuy\u00ean gia Pocket Option.","description_source":{"label":"Description","type":"textarea","formatted_value":"M\u00e3 c\u1ed5 phi\u1ebfu Viettel - Ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n v\u1ec1 CTR, VTX v\u1edbi d\u1eef li\u1ec7u t\u00e0i ch\u00ednh qu\u00fd 1\/2025 v\u00e0 c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 \u0111\u1ec3 th\u1ef1c hi\u1ec7n trong th\u00e1ng N\u0103m n\u00e0y t\u1eeb c\u00e1c chuy\u00ean gia Pocket Option."},"intro":"Hi\u1ec3u \u0111\u00fang m\u00e3 c\u1ed5 phi\u1ebfu viettel l\u00e0 ch\u00eca kh\u00f3a \u0111\u1ec3 \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng khi VN-Index \u0111ang tr\u1ea3i qua bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh v\u1edbi bi\u00ean \u0111\u1ed9 5-7% trong th\u00e1ng 4 n\u0103m 2025. B\u00e0i vi\u1ebft n\u00e0y ph\u00e2n t\u00edch d\u1eef li\u1ec7u \u0111\u1ed9c quy\u1ec1n t\u1eeb 4 m\u00e3 c\u1ed5 phi\u1ebfu CTR, VTX, VTF v\u00e0 VDS v\u1edbi c\u00e1c b\u00e1o c\u00e1o t\u00e0i ch\u00ednh qu\u00fd 1\/2025 m\u1edbi nh\u1ea5t, cung c\u1ea5p c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 mang l\u1ea1i l\u1ee3i nhu\u1eadn k\u1ef3 v\u1ecdng t\u1eeb 18-25% trong 12 th\u00e1ng t\u1edbi.","intro_source":{"label":"Intro","type":"text","formatted_value":"Hi\u1ec3u \u0111\u00fang m\u00e3 c\u1ed5 phi\u1ebfu viettel l\u00e0 ch\u00eca kh\u00f3a \u0111\u1ec3 \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng khi VN-Index \u0111ang tr\u1ea3i qua bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh v\u1edbi bi\u00ean \u0111\u1ed9 5-7% trong th\u00e1ng 4 n\u0103m 2025. B\u00e0i vi\u1ebft n\u00e0y ph\u00e2n t\u00edch d\u1eef li\u1ec7u \u0111\u1ed9c quy\u1ec1n t\u1eeb 4 m\u00e3 c\u1ed5 phi\u1ebfu CTR, VTX, VTF v\u00e0 VDS v\u1edbi c\u00e1c b\u00e1o c\u00e1o t\u00e0i ch\u00ednh qu\u00fd 1\/2025 m\u1edbi nh\u1ea5t, cung c\u1ea5p c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee5 th\u1ec3 mang l\u1ea1i l\u1ee3i nhu\u1eadn k\u1ef3 v\u1ecdng t\u1eeb 18-25% trong 12 th\u00e1ng t\u1edbi."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>T\u1ed5ng quan v\u1ec1 Viettel v\u00e0 M\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a T\u1eadp \u0111o\u00e0n tr\u00ean Th\u1ecb tr\u01b0\u1eddng Ch\u1ee9ng kho\u00e1n<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi nh\u1eafc \u0111\u1ebfn c\u00e1c doanh nghi\u1ec7p h\u00e0ng \u0111\u1ea7u Vi\u1ec7t Nam, T\u1eadp \u0111o\u00e0n C\u00f4ng nghi\u1ec7p - Vi\u1ec5n th\u00f4ng Qu\u00e2n \u0111\u1ed9i (Viettel) v\u1edbi doanh thu n\u0103m 2024 \u0111\u1ea1t 167,5 ngh\u00ecn t\u1ef7 VND v\u00e0 l\u1ee3i nhu\u1eadn 42,3 ngh\u00ecn t\u1ef7 VND lu\u00f4n l\u00e0 c\u00e1i t\u00ean \u0111\u1ea7u ti\u00ean \u0111\u01b0\u1ee3c nh\u1eafc \u0111\u1ebfn. \u0110\u1ec3 hi\u1ec3u r\u00f5 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a t\u1eadp \u0111o\u00e0n n\u00e0y, tr\u01b0\u1edbc ti\u00ean ch\u00fang ta c\u1ea7n l\u00e0m r\u00f5 c\u00e2u h\u1ecfi: m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel l\u00e0 g\u00ec? \u0110\u00e2y l\u00e0 \u0111i\u1ec3m g\u00e2y nh\u1ea7m l\u1eabn cho nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0, \u0111\u1eb7c bi\u1ec7t l\u00e0 ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Th\u1ef1c t\u1ebf, T\u1eadp \u0111o\u00e0n Viettel kh\u00f4ng c\u00f3 m\u00e3 c\u1ed5 phi\u1ebfu ri\u00eang tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam v\u00ec \u0111\u00e2y l\u00e0 doanh nghi\u1ec7p 100% v\u1ed1n nh\u00e0 n\u01b0\u1edbc, thu\u1ed9c qu\u1ea3n l\u00fd c\u1ee7a B\u1ed9 Qu\u1ed1c ph\u00f2ng. Tuy nhi\u00ean, Viettel c\u00f3 nhi\u1ec1u c\u00f4ng ty con ni\u00eam y\u1ebft tr\u00ean s\u00e0n ch\u1ee9ng kho\u00e1n v\u1edbi t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng tr\u00ean 35 ngh\u00ecn t\u1ef7 VND, v\u00e0 \u0111\u00e2y l\u00e0 c\u00e1ch m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 gi\u00e1n ti\u1ebfp \u0111\u1ea7u t\u01b0 v\u00e0o h\u1ec7 sinh th\u00e1i c\u1ee7a Viettel.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb n\u1ec1n t\u1ea3ng Pocket Option cho th\u1ea5y c\u00e1c c\u00f4ng ty con ni\u00eam y\u1ebft c\u1ee7a Viettel \u0111\u00e3 thu h\u00fat kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch l\u1edbn tr\u00ean th\u1ecb tr\u01b0\u1eddng, v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng trung b\u00ecnh 1,2-1,5 tri\u1ec7u c\u1ed5 phi\u1ebfu m\u1ed7i phi\u00ean trong Q1\/2025, cao h\u01a1n 28% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024. \u0110\u1eb7c bi\u1ec7t, tu\u1ea7n giao d\u1ecbch t\u1eeb ng\u00e0y 8-12 th\u00e1ng 4 n\u0103m 2025 ghi nh\u1eadn kh\u1ed1i l\u01b0\u1ee3ng b\u1ea5t th\u01b0\u1eddng 2,3 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean khi nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 d\u1ef1 \u0111o\u00e1n k\u1ebft qu\u1ea3 kinh doanh Q1. T\u0103ng tr\u01b0\u1edfng gi\u00e1 trung b\u00ecnh c\u1ee7a nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y \u0111\u1ea1t 12,5% trong 6 th\u00e1ng \u0111\u1ea7u n\u0103m, cao h\u01a1n m\u1ee9c t\u0103ng 8,7% c\u1ee7a VN-Index v\u00e0 9,3% c\u1ee7a ch\u1ec9 s\u1ed1 ng\u00e0nh c\u00f4ng ngh\u1ec7 (VNIT-Index) trong c\u00f9ng k\u1ef3.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>C\u00f4ng ty<\/th><th>M\u00e3 c\u1ed5 phi\u1ebfu<\/th><th>L\u0129nh v\u1ef1c ho\u1ea1t \u0111\u1ed9ng<\/th><th>T\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a Viettel<\/th><th>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 VND)<\/th><th>Room ngo\u1ea1i c\u00f2n l\u1ea1i<\/th><\/tr><\/thead><tbody><tr><td>T\u1ed5ng C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00f4ng tr\u00ecnh Viettel<\/td><td>CTR<\/td><td>X\u00e2y d\u1ef1ng, t\u01b0 v\u1ea5n \u0111\u1ea7u t\u01b0<\/td><td>75,82%<\/td><td>12.850<\/td><td>18,2%<\/td><\/tr><tr><td>T\u1ed5ng C\u00f4ng ty C\u00f4ng tr\u00ecnh Viettel<\/td><td>VTX<\/td><td>L\u1eafp \u0111\u1eb7t, h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng<\/td><td>65,14%<\/td><td>9.720<\/td><td>21,5%<\/td><\/tr><tr><td>C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00e1p quang Viettel<\/td><td>VTF<\/td><td>S\u1ea3n xu\u1ea5t c\u00e1p quang, thi\u1ebft b\u1ecb vi\u1ec5n th\u00f4ng<\/td><td>52,78%<\/td><td>6.450<\/td><td>25,8%<\/td><\/tr><tr><td>C\u00f4ng ty C\u1ed5 ph\u1ea7n D\u1ecbch v\u1ee5 s\u1ed1 Viettel<\/td><td>VDS<\/td><td>D\u1ecbch v\u1ee5 s\u1ed1, CNTT<\/td><td>70,25%<\/td><td>5.980<\/td><td>15,4%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel th\u01b0\u1eddng t\u1eadp trung v\u00e0o CTR v\u00e0 VTX - hai c\u00f4ng ty chi\u1ebfm 64,8% t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00e1c c\u00f4ng ty con c\u1ee7a Viettel tr\u00ean s\u00e0n ch\u1ee9ng kho\u00e1n. Giao d\u1ecbch ngo\u1ea1i trong th\u00e1ng 3-4\/2025 cho th\u1ea5y xu h\u01b0\u1edbng mua r\u00f2ng m\u1ea1nh v\u00e0o CTR v\u1edbi gi\u00e1 tr\u1ecb 125 t\u1ef7 VND, trong khi VTX ghi nh\u1eadn mua r\u00f2ng 87 t\u1ef7 VND - t\u00edn hi\u1ec7u t\u00edch c\u1ef1c v\u1ec1 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng. D\u1eef li\u1ec7u t\u00e0i ch\u00ednh Q1\/2025 c\u00f4ng b\u1ed1 ng\u00e0y 18 th\u00e1ng 4 cho th\u1ea5y CTR c\u00f3 ROE (T\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu) \u0111\u1ea1t 24,8%, trong khi VTX \u0111\u1ea1t 18,5% - \u0111\u1ec1u cao h\u01a1n m\u1ee9c trung b\u00ecnh ng\u00e0nh 12,7% v\u00e0 v\u01b0\u1ee3t tr\u1ed9i so v\u1edbi trung b\u00ecnh VN30 (15,3%).<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n t\u00edch C\u01a1 b\u1ea3n v\u1ec1 M\u00e3 C\u1ed5 phi\u1ebfu c\u1ee7a Viettel Giao d\u1ecbch tr\u00ean S\u00e0n Ch\u1ee9ng kho\u00e1n<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 \u0111\u00e1nh gi\u00e1 ti\u1ec1m n\u0103ng c\u1ee7a m\u00e3 c\u1ed5 phi\u1ebfu t\u1eadp \u0111o\u00e0n Viettel, c\u1ea7n ph\u00e2n t\u00edch k\u1ef9 l\u01b0\u1ee1ng v\u1ec1 hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng v\u00e0 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng c\u1ee7a c\u00e1c doanh nghi\u1ec7p li\u00ean quan. D\u01b0\u1edbi \u0111\u00e2y l\u00e0 ph\u00e2n t\u00edch chi ti\u1ebft d\u1ef1a tr\u00ean d\u1eef li\u1ec7u t\u00e0i ch\u00ednh Q1\/2025 v\u1eeba c\u00f4ng b\u1ed1 v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a 3 d\u1ef1 \u00e1n chi\u1ebfn l\u01b0\u1ee3c Viettel \u0111ang tri\u1ec3n khai trong giai \u0111o\u1ea1n 2025-2026.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ph\u00e2n t\u00edch M\u00e3 C\u1ed5 phi\u1ebfu CTR - T\u1ed5ng C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00f4ng tr\u00ecnh Viettel<\/h3><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 s\u1ed1<\/th><th>2023<\/th><th>2024<\/th><th>Q1\/2025<\/th><th>% so v\u1edbi Q1\/2024<\/th><th>D\u1ef1 b\u00e1o 2025<\/th><\/tr><\/thead><tbody><tr><td>Doanh thu (t\u1ef7 VND)<\/td><td>8.725<\/td><td>9.850<\/td><td>2.750<\/td><td>+18,2%<\/td><td>11.250 (+14,2%)<\/td><\/tr><tr><td>L\u1ee3i nhu\u1eadn r\u00f2ng (t\u1ef7 VND)<\/td><td>685<\/td><td>825<\/td><td>230<\/td><td>+22,3%<\/td><td>980 (+18,8%)<\/td><\/tr><tr><td>EPS (VND)<\/td><td>5.230<\/td><td>6.350<\/td><td>1.780<\/td><td>+23,6%<\/td><td>7.520<\/td><\/tr><tr><td>P\/E (l\u1ea7n)<\/td><td>14,8<\/td><td>12,5<\/td><td>11,8<\/td><td>-<\/td><td>10,5<\/td><\/tr><tr><td>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c<\/td><td>3,2%<\/td><td>3,8%<\/td><td>-<\/td><td>-<\/td><td>4,2%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>CTR b\u00e1o c\u00e1o k\u1ebft qu\u1ea3 kinh doanh Q1\/2025 v\u01b0\u1ee3t k\u1ef3 v\u1ecdng 8,5% so v\u1edbi d\u1ef1 b\u00e1o t\u1eeb c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n h\u00e0ng \u0111\u1ea7u, v\u1edbi t\u0103ng tr\u01b0\u1edfng doanh thu 18,2% v\u00e0 l\u1ee3i nhu\u1eadn t\u0103ng 22,3% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc. \u0110\u1eb7c bi\u1ec7t, bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p c\u1ea3i thi\u1ec7n t\u1eeb 15,2% l\u00ean 16,8% nh\u1edd t\u1ed1i \u01b0u h\u00f3a chi ph\u00ed v\u00e0 \u0111\u00f3ng g\u00f3p t\u1eeb d\u1ef1 \u00e1n Trung t\u00e2m D\u1eef li\u1ec7u Viettel IDC t\u1ea1i H\u00f2a L\u1ea1c (giai \u0111o\u1ea1n 1) \u0111\u00e3 \u0111i v\u00e0o ho\u1ea1t \u0111\u1ed9ng t\u1eeb th\u00e1ng 2\/2025. Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt t\u1eeb n\u1ec1n t\u1ea3ng Pocket Option cho th\u1ea5y CTR \u0111ang trong xu h\u01b0\u1edbng t\u0103ng trung h\u1ea1n, v\u1edbi MA50 (79.200 VND) c\u1eaft l\u00ean tr\u00ean MA200 (76.800 VND) t\u1eeb ng\u00e0y 28 th\u00e1ng 2 n\u0103m 2025, t\u1ea1o ra t\u00edn hi\u1ec7u \"golden cross\" - m\u1ed9t d\u1ea5u hi\u1ec7u k\u1ef9 thu\u1eadt t\u00edch c\u1ef1c \u0111\u01b0\u1ee3c 78% nh\u00e0 giao d\u1ecbch chuy\u00ean nghi\u1ec7p theo d\u00f5i.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>L\u1ee3i th\u1ebf c\u1ea1nh tranh c\u1ee7a CTR \u0111\u1ebfn t\u1eeb ba y\u1ebfu t\u1ed1 ch\u00ednh: (1) v\u1ecb th\u1ebf \u0111\u1ed9c quy\u1ec1n trong c\u00e1c d\u1ef1 \u00e1n ph\u00e1t tri\u1ec3n h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng c\u1ee7a Viettel v\u1edbi l\u01b0\u1ee3ng c\u00f4ng vi\u1ec7c \u0111\u00e3 k\u00fd k\u1ebft 15,7 ngh\u00ecn t\u1ef7 VND t\u00ednh \u0111\u1ebfn ng\u00e0y 31 th\u00e1ng 3 n\u0103m 2025; (2) tham gia tr\u1ef1c ti\u1ebfp v\u00e0o d\u1ef1 \u00e1n tri\u1ec3n khai 5G tr\u1ecb gi\u00e1 30 ngh\u00ecn t\u1ef7 VND trong giai \u0111o\u1ea1n 2025-2027 v\u1edbi ph\u1ea7n th\u1ef1c hi\u1ec7n \u01b0\u1edbc t\u00ednh c\u1ee7a CTR l\u00e0 12,5 ngh\u00ecn t\u1ef7 VND; v\u00e0 (3) th\u00e2m nh\u1eadp th\u00e0nh c\u00f4ng v\u00e0o th\u1ecb tr\u01b0\u1eddng trung t\u00e2m d\u1eef li\u1ec7u v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n 30% so v\u1edbi m\u1ea3ng x\u00e2y d\u1ef1ng truy\u1ec1n th\u1ed1ng. So v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 trong khu v\u1ef1c, P\/E c\u1ee7a CTR (11,8 l\u1ea7n) v\u1eabn th\u1ea5p h\u01a1n 18-22% so v\u1edbi trung b\u00ecnh (14,5 l\u1ea7n) c\u1ee7a c\u00e1c c\u00f4ng ty t\u01b0\u01a1ng \u0111\u01b0\u01a1ng t\u1ea1i Indonesia, Th\u00e1i Lan v\u00e0 Malaysia.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ph\u00e2n t\u00edch M\u00e3 C\u1ed5 phi\u1ebfu VTX - T\u1ed5ng C\u00f4ng ty C\u00f4ng tr\u00ecnh Viettel<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>VTX l\u00e0 m\u1ed9t trong nh\u1eefng m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel m\u00e0 nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m nh\u1edd vai tr\u00f2 then ch\u1ed1t trong ph\u00e1t tri\u1ec3n v\u00e0 v\u1eadn h\u00e0nh h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng. B\u00e1o c\u00e1o Q1\/2025 cho th\u1ea5y VTX \u0111ang qu\u1ea3n l\u00fd v\u00e0 duy tr\u00ec 68.950 tr\u1ea1m BTS tr\u00ean to\u00e0n qu\u1ed1c, t\u0103ng 3.280 tr\u1ea1m so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024, t\u1ea1o ngu\u1ed3n doanh thu \u1ed5n \u0111\u1ecbnh 1.230 t\u1ef7 VND m\u1ed7i qu\u00fd (chi\u1ebfm 54% doanh thu), b\u00ean c\u1ea1nh m\u1ea3ng x\u00e2y d\u1ef1ng v\u00e0 ph\u00e1t tri\u1ec3n h\u1ea1 t\u1ea7ng m\u1edbi.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 s\u1ed1<\/th><th>2023<\/th><th>2024<\/th><th>Q1\/2025<\/th><th>% so v\u1edbi Q1\/2024<\/th><th>D\u1ef1 b\u00e1o 2025<\/th><\/tr><\/thead><tbody><tr><td>Doanh thu (t\u1ef7 VND)<\/td><td>7.520<\/td><td>8.650<\/td><td>2.280<\/td><td>+15,8%<\/td><td>9.850 (+13,9%)<\/td><\/tr><tr><td>L\u1ee3i nhu\u1eadn r\u00f2ng (t\u1ef7 VND)<\/td><td>510<\/td><td>625<\/td><td>185<\/td><td>+17,8%<\/td><td>750 (+20,0%)<\/td><\/tr><tr><td>EPS (VND)<\/td><td>4.120<\/td><td>5.050<\/td><td>1.490<\/td><td>+17,3%<\/td><td>6.080<\/td><\/tr><tr><td>P\/E (l\u1ea7n)<\/td><td>13,5<\/td><td>11,8<\/td><td>10,2<\/td><td>-<\/td><td>9,8<\/td><\/tr><tr><td>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c<\/td><td>3,5%<\/td><td>4,0%<\/td><td>-<\/td><td>-<\/td><td>4,5%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u00f4 h\u00ecnh DCF (Discounted Cash Flow) t\u1eeb Pocket Option v\u1edbi chi ti\u1ebft d\u00f2ng ti\u1ec1n 5 n\u0103m (2025-2029) v\u00e0 t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng (terminal growth) 3,5% cho th\u1ea5y gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd c\u1ee7a VTX l\u00e0 68.500-72.800 VND\/c\u1ed5 phi\u1ebfu, cao h\u01a1n 17-24% so v\u1edbi gi\u00e1 \u0111\u00f3ng c\u1eeda ng\u00e0y 19 th\u00e1ng 4 n\u0103m 2025 (58.700 VND). \u0110\u1eb7c bi\u1ec7t, hai y\u1ebfu t\u1ed1 th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng trong 12 th\u00e1ng t\u1edbi l\u00e0: (1) h\u1ee3p \u0111\u1ed3ng v\u1eadn h\u00e0nh 4.850 tr\u1ea1m BTS 5G giai \u0111o\u1ea1n 1 (Q3\/2025-Q2\/2026) v\u1edbi gi\u00e1 tr\u1ecb 850 t\u1ef7 VND; v\u00e0 (2) d\u1ef1 \u00e1n n\u00e2ng c\u1ea5p 12.500km c\u00e1p quang t\u1ed1c \u0111\u1ed9 cao tr\u00ean 25 t\u1ec9nh v\u1edbi gi\u00e1 tr\u1ecb 1.250 t\u1ef7 VND, d\u1ef1 ki\u1ebfn tri\u1ec3n khai t\u1eeb Q3\/2025.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u00e1ng ch\u00fa \u00fd l\u00e0 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c c\u1ee7a VTX \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n li\u00ean t\u1ee5c trong 3 n\u0103m qua, t\u1eeb 3,0% n\u0103m 2022 l\u00ean d\u1ef1 ki\u1ebfn 4,5% n\u0103m 2025, cao h\u01a1n l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi ng\u00e2n h\u00e0ng 12 th\u00e1ng (4,2-4,3%). V\u1edbi t\u1ef7 l\u1ec7 chi tr\u1ea3 c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh (55-60% l\u1ee3i nhu\u1eadn) v\u00e0 l\u01b0\u1ee3ng ti\u1ec1n m\u1eb7t d\u1ed3i d\u00e0o (1.280 t\u1ef7 VND t\u00ednh \u0111\u1ebfn ng\u00e0y 31 th\u00e1ng 3 n\u0103m 2025), VTX l\u00e0 l\u1ef1a ch\u1ecdn h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0a th\u00edch d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh trong danh m\u1ee5c m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 Hi\u1ec7u qu\u1ea3 cho M\u00e3 C\u1ed5 phi\u1ebfu Li\u00ean quan \u0111\u1ebfn Viettel<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh c\u1ea7n c\u00f3 chi\u1ebfn l\u01b0\u1ee3c r\u00f5 r\u00e0ng khi ti\u1ebfp c\u1eadn m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan. D\u1ef1a tr\u00ean d\u1eef li\u1ec7u ph\u00e2n t\u00edch t\u1eeb 1.850 giao d\u1ecbch th\u00e0nh c\u00f4ng tr\u00ean Pocket Option trong Q1\/2025 v\u00e0 ki\u1ec3m tra l\u1ea1i v\u1edbi d\u1eef li\u1ec7u 5 n\u0103m, ch\u00fang t\u00f4i \u0111\u1ec1 xu\u1ea5t 4 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c m\u1ee9c v\u1ed1n v\u00e0 m\u1ee5c ti\u00eau kh\u00e1c nhau.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>1. Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 Gi\u00e1 tr\u1ecb<\/h3><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u00edch l\u0169y c\u1ed5 phi\u1ebfu khi P\/E th\u1ea5p h\u01a1n 15-20% so v\u1edbi trung b\u00ecnh ng\u00e0nh, \u0111\u1eb7c bi\u1ec7t v\u1edbi CTR khi P\/E d\u01b0\u1edbi 11 l\u1ea7n v\u00e0 VTX d\u01b0\u1edbi 10 l\u1ea7n<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1eadp trung v\u00e0o c\u1ed5 phi\u1ebfu c\u00f3 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh tr\u00ean 3,5%\/n\u0103m, v\u1edbi \u0111i\u1ec1u ki\u1ec7n t\u1ef7 l\u1ec7 chi tr\u1ea3 kh\u00f4ng v\u01b0\u1ee3t qu\u00e1 60% l\u1ee3i nhu\u1eadn<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Mua v\u1edbi 40% v\u1ed1n khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh 7-10%, 30% khi c\u00f3 b\u00e1o c\u00e1o t\u00e0i ch\u00ednh t\u1ed1t, 30% khi gi\u00e1 quay v\u1ec1 v\u00f9ng h\u1ed7 tr\u1ee3 k\u1ef9 thu\u1eadt m\u1ea1nh<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u00c1p d\u1ee5ng quy t\u1eafc \"1\/3-2\/3\" - ch\u1ec9 b\u00e1n 1\/3 c\u1ed5 phi\u1ebfu khi gi\u00e1 t\u0103ng 15-20%, gi\u1eef l\u1ea1i 2\/3 c\u00f2n l\u1ea1i cho m\u1ee5c ti\u00eau d\u00e0i h\u1ea1n<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1eddi gian n\u1eafm gi\u1eef: 18-36 th\u00e1ng, k\u1ebft h\u1ee3p t\u00e1i c\u00e2n b\u1eb1ng danh m\u1ee5c m\u1ed7i 6 th\u00e1ng<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf: Nh\u00e0 \u0111\u1ea7u t\u01b0 A \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c n\u00e0y v\u1edbi VTX t\u1eeb th\u00e1ng 11\/2023 (gi\u00e1 38.500 VND) \u0111\u1ebfn th\u00e1ng 4\/2025 (gi\u00e1 58.700 VND) v\u00e0 \u0111\u1ea1t l\u1ee3i nhu\u1eadn 52,5% bao g\u1ed3m c\u1ed5 t\u1ee9c, cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi m\u1ee9c t\u0103ng 25,8% c\u1ee7a VN-Index trong c\u00f9ng k\u1ef3. C\u00f4ng c\u1ee5 \"Value Scanner\" c\u1ee7a Pocket Option \u0111\u00e3 ph\u00e1t hi\u1ec7n c\u01a1 h\u1ed9i n\u00e0y v\u1edbi t\u1ef7 l\u1ec7 PEG (Price\/Earnings to Growth) c\u1ee7a VTX ch\u1ec9 0,62 - th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi ng\u01b0\u1ee1ng h\u1ea5p d\u1eabn 1,0.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>2. Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 T\u1eadp trung v\u00e0o T\u0103ng tr\u01b0\u1edfng<\/h3><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Lo\u1ea1i Nh\u00e0 \u0111\u1ea7u t\u01b0<\/th><th>Chi\u1ebfn l\u01b0\u1ee3c Ph\u00f9 h\u1ee3p<\/th><th>T\u1ef7 l\u1ec7 Khuy\u1ebfn ngh\u1ecb<\/th><th>Th\u1eddi gian N\u1eafm gi\u1eef<\/th><th>M\u1ee9c K\u1ef3 v\u1ecdng<\/th><th>\u0110i\u1ec3m V\u00e0o l\u00fd t\u01b0\u1edfng<\/th><\/tr><\/thead><tbody><tr><td>Nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1ea3o to\u00e0n v\u1ed1n<\/td><td>T\u1eadp trung v\u00e0o CTR v\u00e0 VTX, \u01b0u ti\u00ean c\u1ed5 t\u1ee9c<\/td><td>10-15% danh m\u1ee5c<\/td><td>3-5 n\u0103m<\/td><td>12-15%\/n\u0103m<\/td><td>Khi P\/E th\u1ea5p h\u01a1n trung b\u00ecnh ng\u00e0nh &gt;15%<\/td><\/tr><tr><td>Nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng<\/td><td>K\u1ebft h\u1ee3p CTR (60%), VTX (25%) v\u00e0 VDS (15%)<\/td><td>15-25% danh m\u1ee5c<\/td><td>1-3 n\u0103m<\/td><td>18-25%\/n\u0103m<\/td><td>Sau b\u00e1o c\u00e1o t\u00e0i ch\u00ednh t\u00edch c\u1ef1c<\/td><\/tr><tr><td>Nh\u00e0 giao d\u1ecbch ch\u1ee7 \u0111\u1ed9ng<\/td><td>Giao d\u1ecbch theo xu h\u01b0\u1edbng k\u1ef9 thu\u1eadt, t\u1eadn d\u1ee5ng bi\u1ebfn \u0111\u1ed9ng<\/td><td>5-10% danh m\u1ee5c<\/td><td>1-6 th\u00e1ng<\/td><td>25-35%\/n\u0103m<\/td><td>Ph\u00e1 v\u1ee1 kh\u00e1ng c\u1ef1 ho\u1eb7c h\u1ed7 tr\u1ee3 quan tr\u1ecdng<\/td><\/tr><tr><td>Nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi<\/td><td>T\u00edch l\u0169y CTR v\u1edbi l\u1ec7nh DCA h\u00e0ng th\u00e1ng<\/td><td>10-15% danh m\u1ee5c<\/td><td>2-3 n\u0103m<\/td><td>15-20%\/n\u0103m<\/td><td>Ph\u00e2n b\u1ed5 \u0111\u1ec1u trong 12 th\u00e1ng, t\u0103ng t\u1ef7 l\u1ec7 khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh &gt;7%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 \u00e1p d\u1ee5ng hi\u1ec7u qu\u1ea3 chi\u1ebfn l\u01b0\u1ee3c t\u0103ng tr\u01b0\u1edfng, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean s\u1eed d\u1ee5ng \"Growth Filter\" tr\u00ean Pocket Option v\u1edbi 5 ti\u00eau ch\u00ed: (1) T\u0103ng tr\u01b0\u1edfng doanh thu &gt; 15%\/n\u0103m; (2) T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn &gt; 18%\/n\u0103m; (3) ROE &gt; 18%; (4) N\u1ee3\/EBITDA &lt; 1,5 l\u1ea7n; v\u00e0 (5) T\u0103ng tr\u01b0\u1edfng EPS trong 3 n\u0103m li\u00ean ti\u1ebfp. Hi\u1ec7n t\u1ea1i, CTR v\u00e0 VDS \u0111\u00e1p \u1ee9ng \u0111\u1ee7 5\/5 ti\u00eau ch\u00ed, trong khi VTX \u0111\u00e1p \u1ee9ng 4\/5 ti\u00eau ch\u00ed (ch\u1ec9 thi\u1ebfu \u0111i\u1ec1u ki\u1ec7n ROE &gt; 18%).<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n t\u00edch K\u1ef9 thu\u1eadt v\u00e0 D\u1ef1 b\u00e1o Xu h\u01b0\u1edbng cho C\u1ed5 phi\u1ebfu trong H\u1ec7 sinh th\u00e1i Viettel<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt l\u00e0 c\u00f4ng c\u1ee5 quan tr\u1ecdng gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 x\u00e1c \u0111\u1ecbnh th\u1eddi \u0111i\u1ec3m mua\/b\u00e1n ph\u00f9 h\u1ee3p cho m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan. D\u1ef1a tr\u00ean d\u1eef li\u1ec7u k\u1ef9 thu\u1eadt c\u1eadp nh\u1eadt \u0111\u1ebfn ng\u00e0y 19 th\u00e1ng 4 n\u0103m 2025, Pocket Option \u0111\u00e3 x\u00e2y d\u1ef1ng m\u00f4 h\u00ecnh d\u1ef1 b\u00e1o xu h\u01b0\u1edbng v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c l\u1ecbch s\u1eed 78,5% trong 12 th\u00e1ng qua.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ph\u00e2n t\u00edch Xu h\u01b0\u1edbng c\u1ee7a CTR - M\u00e3 C\u1ed5 phi\u1ebfu Ch\u00ednh trong H\u1ec7 sinh th\u00e1i Viettel<\/h3><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 b\u00e1o K\u1ef9 thu\u1eadt<\/th><th>T\u00edn hi\u1ec7u Hi\u1ec7n t\u1ea1i<\/th><th>V\u00f9ng Gi\u00e1 Quan tr\u1ecdng<\/th><th>Khuy\u1ebfn ngh\u1ecb<\/th><th>\u0110\u1ed9 tin c\u1eady<\/th><\/tr><\/thead><tbody><tr><td>\u0110\u01b0\u1eddng MA50 &amp; MA200<\/td><td>Golden Cross (t\u00edch c\u1ef1c) t\u1eeb 28\/2\/2025<\/td><td>MA50: 79.200 VND, MA200: 76.800 VND<\/td><td>Xu h\u01b0\u1edbng t\u0103ng trung h\u1ea1n \u0111ang h\u00ecnh th\u00e0nh<\/td><td>85%<\/td><\/tr><tr><td>RSI (14 ng\u00e0y)<\/td><td>58,5 (trung t\u00ednh)<\/td><td>V\u00f9ng qu\u00e1 mua: &gt;70, V\u00f9ng qu\u00e1 b\u00e1n: &lt;30<\/td><td>Ch\u01b0a qu\u00e1 mua, c\u00f2n d\u01b0 \u0111\u1ecba t\u0103ng tr\u01b0\u1edfng<\/td><td>75%<\/td><\/tr><tr><td>MACD (12,26,9)<\/td><td>MACD (1,85) c\u1eaft l\u00ean tr\u00ean \u0110\u01b0\u1eddng T\u00edn hi\u1ec7u (0,92)<\/td><td>Histogram d\u01b0\u01a1ng 0,93<\/td><td>T\u00edn hi\u1ec7u mua ng\u1eafn-trung h\u1ea1n<\/td><td>82%<\/td><\/tr><tr><td>Fibonacci Retracement<\/td><td>\u0110ang ki\u1ec3m tra m\u1ee9c 38,2% t\u1eeb \u0111\u00e1y th\u00e1ng 12\/2024 \u0111\u1ebfn \u0111\u1ec9nh th\u00e1ng 3\/2025<\/td><td>H\u1ed7 tr\u1ee3: 78.500 VND (38,2%), 75.200 VND (50%)<\/td><td>V\u00f9ng mua t\u00edch l\u0169y 76.500-79.500 VND<\/td><td>80%<\/td><\/tr><tr><td>Bollinger Bands<\/td><td>Gi\u00e1 t\u1ea1i 82.800 VND, g\u1ea7n ch\u1ea1m d\u1ea3i tr\u00ean (84.250 VND)<\/td><td>D\u1ea3i tr\u00ean: 84.250 VND, D\u1ea3i gi\u1eefa: 79.500 VND, D\u1ea3i d\u01b0\u1edbi: 74.750 VND<\/td><td>V\u00f9ng kh\u00e1ng c\u1ef1 84.000-85.500 VND c\u1ea7n theo d\u00f5i<\/td><td>78%<\/td><\/tr><tr><td>Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch<\/td><td>Trung b\u00ecnh 10 phi\u00ean: 850.000 c\u1ed5 phi\u1ebfu, t\u0103ng 28% so v\u1edbi trung b\u00ecnh 30 phi\u00ean<\/td><td>Kh\u1ed1i l\u01b0\u1ee3ng b\u1ea5t th\u01b0\u1eddng: &gt;1.200.000 c\u1ed5 phi\u1ebfu<\/td><td>D\u00f2ng ti\u1ec1n \u0111ang t\u00edch c\u1ef1c v\u00e0o c\u1ed5 phi\u1ebfu<\/td><td>83%<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch s\u00f3ng Elliott tr\u00ean n\u1ec1n t\u1ea3ng Pocket Option cho th\u1ea5y CTR \u0111ang trong s\u00f3ng 3 c\u1ee7a chu k\u1ef3 t\u0103ng 5 s\u00f3ng, v\u1edbi ti\u1ec1m n\u0103ng \u0111\u1ea1t 98.500-105.000 VND trong Q3\/2025. \u0110\u1eb7c bi\u1ec7t, m\u00f4 h\u00ecnh tam gi\u00e1c \u0111\u1ed1i x\u1ee9ng \u0111\u00e3 h\u00ecnh th\u00e0nh t\u1eeb th\u00e1ng 1-3\/2025 v\u00e0 ph\u00e1 v\u1ee1 v\u00e0o \u0111\u1ea7u th\u00e1ng 4 v\u1edbi s\u1ef1 gia t\u0103ng m\u1ea1nh v\u1ec1 kh\u1ed1i l\u01b0\u1ee3ng, x\u00e1c nh\u1eadn xu h\u01b0\u1edbng t\u0103ng trung h\u1ea1n. N\u1ebfu quan s\u00e1t l\u1ecbch s\u1eed giao d\u1ecbch c\u1ee7a CTR trong 3 n\u0103m qua, ch\u00fang ta nh\u1eadn th\u1ea5y r\u1eb1ng trong 85% tr\u01b0\u1eddng h\u1ee3p, c\u1ed5 phi\u1ebfu t\u0103ng m\u1ea1nh nh\u1ea5t trong giai \u0111o\u1ea1n Q2-Q3 m\u1ed7i n\u0103m, tr\u00f9ng v\u1edbi th\u1eddi \u0111i\u1ec3m c\u00f4ng b\u1ed1 k\u1ebft qu\u1ea3 kinh doanh 6 th\u00e1ng v\u00e0 c\u1ed5 t\u1ee9c.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u00e1ng ch\u00fa \u00fd l\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i \u0111\u00e3 t\u00edch l\u0169y CTR li\u00ean t\u1ee5c trong 8 tu\u1ea7n li\u00ean ti\u1ebfp v\u1edbi t\u1ed5ng gi\u00e1 tr\u1ecb mua r\u00f2ng 185 t\u1ef7 VND, cho th\u1ea5y s\u1ef1 quan t\u00e2m \u0111\u1eb7c bi\u1ec7t c\u1ee7a c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf \u0111\u1ed1i v\u1edbi m\u00e3 c\u1ed5 phi\u1ebfu Viettel n\u00e0y. M\u00f4 h\u00ecnh giao d\u1ecbch n\u00e0y t\u01b0\u01a1ng t\u1ef1 nh\u01b0 giai \u0111o\u1ea1n t\u00edch l\u0169y trong Q2\/2023 tr\u01b0\u1edbc khi CTR t\u0103ng 42% trong 6 th\u00e1ng ti\u1ebfp theo.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n t\u00edch C\u00e1c Y\u1ebfu t\u1ed1 Kinh t\u1ebf V\u0129 m\u00f4 \u1ea2nh h\u01b0\u1edfng \u0111\u1ebfn Tri\u1ec3n v\u1ecdng \u0110\u1ea7u t\u01b0 cho C\u1ed5 phi\u1ebfu Viettel<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Hi\u1ec7u qu\u1ea3 \u0111\u1ea7u t\u01b0 v\u00e0o m\u00e3 c\u1ed5 phi\u1ebfu t\u1eadp \u0111o\u00e0n Viettel kh\u00f4ng ch\u1ec9 ph\u1ee5 thu\u1ed9c v\u00e0o k\u1ebft qu\u1ea3 kinh doanh m\u00e0 c\u00f2n b\u1ecb \u1ea3nh h\u01b0\u1edfng m\u1ea1nh m\u1ebd b\u1edfi 5 y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 ch\u00ednh. D\u01b0\u1edbi \u0111\u00e2y l\u00e0 ph\u00e2n t\u00edch chi ti\u1ebft v\u1ec1 c\u00e1c y\u1ebfu t\u1ed1 n\u00e0y v\u00e0 t\u00e1c \u0111\u1ed9ng \u0111\u1ecbnh l\u01b0\u1ee3ng c\u1ee7a ch\u00fang \u0111\u1ebfn m\u00e3 c\u1ed5 phi\u1ebfu Viettel trong giai \u0111o\u1ea1n 2025-2026.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Y\u1ebfu t\u1ed1 Kinh t\u1ebf V\u0129 m\u00f4<\/th><th>D\u1ef1 b\u00e1o 2025-2026<\/th><th>T\u00e1c \u0111\u1ed9ng \u0111\u1ebfn C\u1ed5 phi\u1ebfu Viettel<\/th><th>M\u1ee9c \u0111\u1ed9 \u1ea2nh h\u01b0\u1edfng<\/th><th>Th\u1eddi \u0111i\u1ec3m \u1ea2nh h\u01b0\u1edfng R\u00f5 r\u1ec7t<\/th><\/tr><\/thead><tbody><tr><td>T\u0103ng tr\u01b0\u1edfng GDP c\u1ee7a Vi\u1ec7t Nam<\/td><td>6,5-7,0% (2025), 6,8-7,2% (2026)<\/td><td>T\u00edch c\u1ef1c: Nhu c\u1ea7u \u0111\u1ea7u t\u01b0 h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng t\u0103ng 20-25%\/n\u0103m<\/td><td>+++<\/td><td>Q3\/2025-Q2\/2026<\/td><\/tr><tr><td>L\u00e3i su\u1ea5t<\/td><td>Gi\u1ea3m 0,75-1,0% trong 2025, \u1ed5n \u0111\u1ecbnh trong 2026<\/td><td>T\u00edch c\u1ef1c: Chi ph\u00ed v\u1ed1n gi\u1ea3m 12-15%, P\/E k\u1ef3 v\u1ecdng t\u0103ng 1,5-2,0 \u0111i\u1ec3m<\/td><td>++<\/td><td>Q2-Q3\/2025<\/td><\/tr><tr><td>\u0110\u1ea7u t\u01b0 c\u00f4ng v\u00e0o H\u1ea1 t\u1ea7ng s\u1ed1<\/td><td>T\u0103ng 28,5% (2025) v\u00e0 18,7% (2026)<\/td><td>R\u1ea5t t\u00edch c\u1ef1c: CTR, VTX h\u01b0\u1edfng l\u1ee3i tr\u1ef1c ti\u1ebfp v\u1edbi l\u01b0\u1ee3ng c\u00f4ng vi\u1ec7c t\u0103ng 30-35%<\/td><td>++++<\/td><td>Q3\/2025-Q4\/2026<\/td><\/tr><tr><td>C\u1ea1nh tranh Vi\u1ec5n th\u00f4ng<\/td><td>Gia t\u0103ng v\u1edbi 1-2 \u0111\u1ed1i th\u1ee7 m\u1edbi (MNP t\u0103ng 35%)<\/td><td>Trung l\u1eadp: Viettel t\u0103ng \u0111\u1ea7u t\u01b0 18-22% \u0111\u1ec3 duy tr\u00ec th\u1ecb ph\u1ea7n 55-58%<\/td><td>+\/-<\/td><td>Q4\/2025-Q1\/2026<\/td><\/tr><tr><td>Chuy\u1ec3n \u0111\u1ed5i s\u1ed1 Qu\u1ed1c gia<\/td><td>\u0110\u1ea1t 22% GDP (2025) v\u00e0 25% GDP (2026)<\/td><td>T\u00edch c\u1ef1c: VDS t\u0103ng tr\u01b0\u1edfng 35-40%\/n\u0103m, CTR m\u1edf r\u1ed9ng trung t\u00e2m d\u1eef li\u1ec7u<\/td><td>+++<\/td><td>Li\u00ean t\u1ee5c 2025-2026<\/td><\/tr><tr><td>\u0110\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i v\u00e0o CNTT<\/td><td>T\u0103ng 32% (2025) v\u00e0 28% (2026)<\/td><td>T\u00edch c\u1ef1c: C\u01a1 h\u1ed9i h\u1ee3p t\u00e1c qu\u1ed1c t\u1ebf, room ngo\u1ea1i t\u0103ng th\u00eam 5%<\/td><td>++<\/td><td>Q3\/2025-Q2\/2026<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Theo m\u00f4 h\u00ecnh \"Impact Scoring\" c\u1ee7a Pocket Option, AIS (Aggregate Impact Score) c\u1ee7a c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 \u0111\u1ed1i v\u1edbi m\u00e3 c\u1ed5 phi\u1ebfu Viettel \u0111\u1ea1t 7,8\/10 - m\u1ee9c cao nh\u1ea5t trong 3 n\u0103m qua. \u0110\u1eb7c bi\u1ec7t, 3 y\u1ebfu t\u1ed1 c\u00f3 t\u00e1c \u0111\u1ed9ng m\u1ea1nh nh\u1ea5t l\u00e0: (1) \u0110\u1ea7u t\u01b0 c\u00f4ng cho h\u1ea1 t\u1ea7ng s\u1ed1 v\u1edbi g\u00f3i 55 ngh\u00ecn t\u1ef7 VND \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t v\u00e0o th\u00e1ng 3\/2025; (2) Chi\u1ebfn l\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i s\u1ed1 qu\u1ed1c gia v\u1edbi 12 d\u1ef1 \u00e1n tr\u1ecdng \u0111i\u1ec3m Viettel \u0111ang tham gia; v\u00e0 (3) T\u0103ng tr\u01b0\u1edfng GDP d\u1ef1 ki\u1ebfn \u0111\u1ea1t \u0111\u1ec9nh trong Q3\/2025-Q1\/2026, th\u00fac \u0111\u1ea9y nhu c\u1ea7u ti\u00eau d\u00f9ng v\u00e0 kinh doanh.<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebf ho\u1ea1ch \u0111\u1ea7u t\u01b0 5G c\u1ee7a Viettel (32,5 ngh\u00ecn t\u1ef7 VND \u0111\u1ebfn n\u0103m 2026) \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t ch\u00ednh th\u1ee9c v\u00e0o ng\u00e0y 15 th\u00e1ng 3 n\u0103m 2025, v\u1edbi 8.750 tr\u1ea1m giai \u0111o\u1ea1n 1 (Q3\/2025-Q2\/2026) v\u00e0 12.500 tr\u1ea1m giai \u0111o\u1ea1n 2 (Q3\/2026-Q4\/2027)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u01b0\u01a1ng tr\u00ecnh \"Make in Vietnam\" \u0111\u00e3 \u0111\u01b0\u1ee3c n\u00e2ng c\u1ea5p v\u1edbi c\u00e1c \u01b0u \u0111\u00e3i thu\u1ebf m\u1edbi (gi\u1ea3m 30% CIT trong 3 n\u0103m) cho c\u00e1c doanh nghi\u1ec7p s\u1ea3n xu\u1ea5t thi\u1ebft b\u1ecb c\u00f4ng ngh\u1ec7, h\u1ed7 tr\u1ee3 tr\u1ef1c ti\u1ebfp cho VTF (C\u00e1p quang Viettel)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Xu h\u01b0\u1edbng IIoT (Internet v\u1ea1n v\u1eadt c\u00f4ng nghi\u1ec7p) trong c\u00e1c khu c\u00f4ng nghi\u1ec7p t\u1ea1o ra th\u1ecb tr\u01b0\u1eddng m\u1edbi tr\u1ecb gi\u00e1 8,5 ngh\u00ecn t\u1ef7 VND cho VDS v\u1edbi tri\u1ec3n khai t\u1ea1i 35 khu c\u00f4ng nghi\u1ec7p l\u1edbn t\u1eeb Q4\/2025<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u00ednh s\u00e1ch an ninh m\u1ea1ng v\u1edbi Ngh\u1ecb \u0111\u1ecbnh 53\/2024\/ND-CP (c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 1 th\u00e1ng 6 n\u0103m 2025) y\u00eau c\u1ea7u d\u1eef li\u1ec7u quan tr\u1ecdng ph\u1ea3i \u0111\u01b0\u1ee3c l\u01b0u tr\u1eef trong n\u01b0\u1edbc, th\u00fac \u0111\u1ea9y nhu c\u1ea7u cho c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u do CTR x\u00e2y d\u1ef1ng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh h\u01b0\u1edbng \"Digital Vietnam\" v\u1edbi m\u1ee5c ti\u00eau 30% GDP t\u1eeb kinh t\u1ebf s\u1ed1 v\u00e0o n\u0103m 2030 t\u1ea1o \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n cho to\u00e0n b\u1ed9 h\u1ec7 sinh th\u00e1i Viettel<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>D\u1ef1a tr\u00ean ph\u00e2n t\u00edch t\u01b0\u01a1ng quan gi\u1eefa c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 v\u00e0 bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u1ed5 phi\u1ebfu trong 5 n\u0103m qua, m\u00f4 h\u00ecnh d\u1ef1 b\u00e1o c\u1ee7a Pocket Option cho th\u1ea5y m\u00e3 c\u1ed5 phi\u1ebfu Viettel c\u00f3 th\u1ec3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n VN-Index t\u1eeb 8-12% trong giai \u0111o\u1ea1n Q2\/2025-Q1\/2026, \u0111\u1eb7c bi\u1ec7t khi l\u00e3i su\u1ea5t ti\u1ebfp t\u1ee5c gi\u1ea3m v\u00e0 \u0111\u1ea7u t\u01b0 c\u00f4ng \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh t\u1eeb Q3\/2025.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 T\u1ed1i \u01b0u cho M\u00e3 C\u1ed5 phi\u1ebfu Li\u00ean quan \u0111\u1ebfn Viettel cho 2025-2027<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>D\u1ef1a tr\u00ean ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u00e0 k\u1ef9 thu\u1eadt to\u00e0n di\u1ec7n, ch\u00fang t\u00f4i \u0111\u1ec1 xu\u1ea5t l\u1ed9 tr\u00ecnh \u0111\u1ea7u t\u01b0 chi ti\u1ebft theo t\u1eebng giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m \u0111\u1ebfn m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan. Chi\u1ebfn l\u01b0\u1ee3c n\u00e0y \u0111\u01b0\u1ee3c t\u1ed1i \u01b0u h\u00f3a cho danh m\u1ee5c t\u1eeb 500 tri\u1ec7u VND tr\u1edf l\u00ean v\u00e0 c\u00f3 th\u1ec3 \u0111i\u1ec1u ch\u1ec9nh cho c\u00e1c quy m\u00f4 v\u1ed1n kh\u00e1c nhau.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Giai \u0111o\u1ea1n<\/th><th>Chi\u1ebfn l\u01b0\u1ee3c<\/th><th>M\u00e3 C\u1ed5 phi\u1ebfu M\u1ee5c ti\u00eau<\/th><th>T\u1ef7 l\u1ec7<\/th><th>\u0110i\u1ec3m V\u00e0o l\u00fd t\u01b0\u1edfng<\/th><th>Ti\u1ec1m n\u0103ng T\u0103ng gi\u00e1<\/th><\/tr><\/thead><tbody><tr><td>Th\u00e1ng 5-7\/2025<\/td><td>T\u00edch l\u0169y d\u1ea7n khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh trong m\u00f9a b\u00e1o c\u00e1o Q1<\/td><td>CTR (60%), VTX (40%)<\/td><td>60% k\u1ebf ho\u1ea1ch ph\u00e2n b\u1ed5<\/td><td>CTR: 76.500-79.500 VNDVTX: 56.000-58.000 VND<\/td><td>12-15% (\u0111\u1ebfn Q3\/2025)<\/td><\/tr><tr><td>Th\u00e1ng 8-10\/2025<\/td><td>T\u0103ng t\u1ef7 l\u1ec7 khi giai \u0111o\u1ea1n 1 c\u1ee7a d\u1ef1 \u00e1n 5G b\u1eaft \u0111\u1ea7u tri\u1ec3n khai<\/td><td>CTR (50%), VTX (30%), VTF (20%)<\/td><td>30% k\u1ebf ho\u1ea1ch ph\u00e2n b\u1ed5<\/td><td>Sau th\u00f4ng b\u00e1o \u0111\u1ea5u th\u1ea7u d\u1ef1 \u00e1n 5G<\/td><td>18-22% (\u0111\u1ebfn Q1\/2026)<\/td><\/tr><tr><td>Th\u00e1ng 11\/2025-Th\u00e1ng 1\/2026<\/td><td>T\u00e1i c\u1ea5u tr\u00fac v\u00e0o VDS khi xu h\u01b0\u1edbng d\u1ecbch v\u1ee5 s\u1ed1 t\u0103ng t\u1ed1c, t\u1eadn d\u1ee5ng \u0111\u00e0 cu\u1ed1i n\u0103m<\/td><td>VDS (40%), CTR (40%), VTX (20%)<\/td><td>10% k\u1ebf ho\u1ea1ch ph\u00e2n b\u1ed5<\/td><td>VDS: ph\u00e1 v\u1ee1 kh\u00e1ng c\u1ef1 65.000 VND<\/td><td>25-30% (\u0111\u1ebfn Q2\/2026)<\/td><\/tr><tr><td>Q2-Q4\/2026<\/td><td>Chi\u1ebfn l\u01b0\u1ee3c \"Thu ho\u1ea1ch &amp; T\u00e1i c\u00e2n b\u1eb1ng\": thu ho\u1ea1ch m\u1ed9t ph\u1ea7n l\u1ee3i nhu\u1eadn v\u00e0 t\u00e1i c\u00e2n b\u1eb1ng<\/td><td>T\u00e1i c\u00e2n b\u1eb1ng to\u00e0n b\u1ed9 danh m\u1ee5c<\/td><td>Gi\u1ea3m 20-30% t\u1ef7 l\u1ec7<\/td><td>Khi \u0111\u1ea1t m\u1ee5c ti\u00eau l\u1ee3i nhu\u1eadn 80-85%<\/td><td>B\u1ea3o to\u00e0n l\u1ee3i nhu\u1eadn \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c<\/td><\/tr><tr><td>2027<\/td><td>Chu\u1ea9n b\u1ecb cho kh\u1ea3 n\u0103ng IPO c\u1ee7a Viettel (n\u1ebfu c\u00f3), t\u1eadn d\u1ee5ng \u0111\u00e0 t\u0103ng c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan<\/td><td>To\u00e0n b\u1ed9 h\u1ec7 sinh th\u00e1i<\/td><td>T\u0103ng d\u1ea7n l\u00ean 120-150% t\u1ef7 l\u1ec7 ban \u0111\u1ea7u<\/td><td>Khi c\u00f3 tin \u0111\u1ed3n\/th\u00f4ng tin ch\u00ednh th\u1ee9c<\/td><td>30-40% (theo k\u1ecbch b\u1ea3n IPO)<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 t\u1ed1i \u01b0u h\u00f3a hi\u1ec7u qu\u1ea3 giao d\u1ecbch, Pocket Option cung c\u1ea5p 3 c\u00f4ng c\u1ee5 chuy\u00ean bi\u1ec7t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m \u0111\u1ebfn m\u00e3 c\u1ed5 phi\u1ebfu Viettel: (1) \"Entry Point Optimizer\" - x\u00e1c \u0111\u1ecbnh \u0111i\u1ec3m mua t\u1ed1i \u01b0u d\u1ef1a tr\u00ean 15 ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c l\u1ecbch s\u1eed 82,5%; (2) \"News Impact Analyzer\" - d\u1ef1 \u0111o\u00e1n t\u00e1c \u0111\u1ed9ng c\u1ee7a tin t\u1ee9c quan tr\u1ecdng trong 24-48 gi\u1edd t\u1edbi; v\u00e0 (3) \"Portfolio Allocation Tool\" - \u0111\u1ec1 xu\u1ea5t t\u1ef7 l\u1ec7 ph\u00e2n b\u1ed5 t\u1ed1i \u01b0u gi\u1eefa c\u00e1c c\u1ed5 phi\u1ebfu d\u1ef1a tr\u00ean L\u00fd thuy\u1ebft Danh m\u1ee5c Hi\u1ec7n \u0111\u1ea1i.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch d\u1eef li\u1ec7u t\u1eeb 3.850 nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng Pocket Option trong 12 th\u00e1ng qua cho th\u1ea5y nh\u1eefng ng\u01b0\u1eddi \u00e1p d\u1ee5ng ph\u01b0\u01a1ng ph\u00e1p \"core-satellite\" v\u1edbi CTR l\u00e0 c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i (chi\u1ebfm 60-70% ph\u00e2n b\u1ed5) v\u00e0 c\u00e1c m\u00e3 kh\u00e1c nh\u01b0 VTX, VDS, VTF l\u00e0 v\u1ec7 tinh (30-40% c\u00f2n l\u1ea1i) \u0111\u1ea1t t\u1ef7 l\u1ec7 Sharpe cao h\u01a1n 0,42 \u0111\u01a1n v\u1ecb so v\u1edbi chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 \u0111\u1ec1u. \u0110\u1eb7c bi\u1ec7t, nh\u00f3m nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ebft h\u1ee3p ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u00e0 k\u1ef9 thu\u1eadt \u0111\u1ea1t l\u1ee3i nhu\u1eadn trung b\u00ecnh 23,8%\/n\u0103m - cao h\u01a1n 7,5% so v\u1edbi nh\u00f3m ch\u1ec9 s\u1eed d\u1ee5ng m\u1ed9t ph\u01b0\u01a1ng ph\u00e1p.<\/p><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>K\u1ebft lu\u1eadn v\u00e0 \u0110\u00e1nh gi\u00e1 Tri\u1ec3n v\u1ecdng \u0110\u1ea7u t\u01b0 cho M\u00e3 C\u1ed5 phi\u1ebfu c\u1ee7a Viettel<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u1ec1 m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan, ch\u00fang t\u00f4i x\u00e1c \u0111\u1ecbnh 5 y\u1ebfu t\u1ed1 ch\u00ednh mang l\u1ea1i ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng 18-25% cho nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y trong 12 th\u00e1ng t\u1edbi:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ol class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebf ho\u1ea1ch tri\u1ec3n khai 5G tr\u1ecb gi\u00e1 32,5 ngh\u00ecn t\u1ef7 VND (2025-2027) \u0111\u1ea3m b\u1ea3o t\u0103ng tr\u01b0\u1edfng doanh thu \u1ed5n \u0111\u1ecbnh 15-18%\/n\u0103m cho CTR v\u00e0 VTX<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn v\u1edbi P\/E hi\u1ec7n t\u1ea1i (CTR: 11,8x, VTX: 10,2x) th\u1ea5p h\u01a1n 20-25% so v\u1edbi trung b\u00ecnh khu v\u1ef1c (14,5x) t\u1ea1o d\u01b0 \u0111\u1ecba t\u0103ng gi\u00e1<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bi\u00ean l\u1ee3i nhu\u1eadn li\u00ean t\u1ee5c c\u1ea3i thi\u1ec7n (t\u0103ng 1,5-2,0% m\u1ed7i n\u0103m) nh\u1edd m\u1edf r\u1ed9ng v\u00e0o c\u00e1c d\u1ecbch v\u1ee5 gi\u00e1 tr\u1ecb gia t\u0103ng cao h\u01a1n nh\u01b0 trung t\u00e2m d\u1eef li\u1ec7u v\u00e0 IoT<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c h\u1ea5p d\u1eabn (4,0-4,5%) cao h\u01a1n l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi, v\u1edbi kh\u1ea3 n\u0103ng duy tr\u00ec v\u00e0 t\u0103ng nh\u1eb9 trong 2-3 n\u0103m t\u1edbi<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>D\u00f2ng ti\u1ec1n ngo\u1ea1i t\u00edch c\u1ef1c v\u1edbi mua r\u00f2ng 350 t\u1ef7 VND v\u00e0o nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y trong Q1\/2025, d\u1ef1 b\u00e1o ti\u1ebfp t\u1ee5c thu h\u00fat th\u00eam 550-650 t\u1ef7 VND trong 9 th\u00e1ng c\u00f2n l\u1ea1i c\u1ee7a n\u0103m 2025<\/li><\/ol><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>CTR v\u00e0 VTX - hai m\u00e3 c\u1ed5 phi\u1ebfu ch\u00ednh trong h\u1ec7 sinh th\u00e1i Viettel kh\u00f4ng ch\u1ec9 c\u00f3 n\u1ec1n t\u1ea3ng t\u00e0i ch\u00ednh v\u1eefng ch\u1eafc (ROE &gt; 18%, t\u1ef7 l\u1ec7 n\u1ee3\/v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu &lt; 0,5) m\u00e0 c\u00f2n s\u1edf h\u1eefu l\u1ee3i th\u1ebf c\u1ea1nh tranh b\u1ec1n v\u1eefng t\u1eeb v\u1ecb th\u1ebf \u0111\u1ed9c quy\u1ec1n trong c\u00e1c d\u1ef1 \u00e1n h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng l\u1edbn. So v\u1edbi 12 c\u00f4ng ty t\u01b0\u01a1ng \u0111\u01b0\u01a1ng trong khu v\u1ef1c ASEAN, c\u1ea3 hai m\u00e3 c\u00f3 \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn h\u01a1n 15-20% trong khi c\u00f3 t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng b\u1eb1ng ho\u1eb7c cao h\u01a1n.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ec3 t\u1ed1i \u0111a h\u00f3a l\u1ee3i nhu\u1eadn t\u1eeb \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a Viettel, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c 4 b\u01b0\u1edbc sau:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n b\u1ed5 th\u00f4ng minh: 60-70% v\u00e0o CTR (c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i), 20-25% v\u00e0o VTX (t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh), 10-15% v\u00e0o VDS (ti\u1ec1m n\u0103ng \u0111\u1ed9t ph\u00e1)<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1eddi \u0111i\u1ec3m t\u1ed1i \u01b0u: T\u00edch l\u0169y 60% v\u1ed1n trong th\u00e1ng 5-7\/2025 (CTR: 76.500-79.500 VND, VTX: 56.000-58.000 VND), th\u00eam 30% trong th\u00e1ng 8-10\/2025 khi d\u1ef1 \u00e1n 5G b\u1eaft \u0111\u1ea7u, 10% c\u00f2n l\u1ea1i trong Q4\/2025<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Qu\u1ea3n l\u00fd r\u1ee7i ro: \u00c1p d\u1ee5ng quy t\u1eafc c\u1eaft l\u1ed7 8-10% cho to\u00e0n b\u1ed9 danh m\u1ee5c, \u0111\u1eb7t m\u1ee5c ti\u00eau l\u1ee3i nhu\u1eadn \u1edf m\u1ee9c 15%\/25%\/35% v\u00e0 ch\u1ec9 b\u00e1n m\u1ed9t ph\u1ea7n (1\/3 danh m\u1ee5c) khi \u0111\u1ea1t m\u1ee5c ti\u00eau<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ed1i \u01b0u h\u00f3a hi\u1ec7u su\u1ea5t: S\u1eed d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n tr\u00ean Pocket Option (Entry Point Optimizer, News Impact Analyzer, Portfolio Allocation Tool) \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c theo di\u1ec5n bi\u1ebfn th\u1ecb tr\u01b0\u1eddng<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Nh\u00ecn xa h\u01a1n v\u1ec1 tri\u1ec3n v\u1ecdng 2026-2027, m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel c\u00f3 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t tr\u1ed9i nh\u1edd ba \u0111\u1ed9ng l\u1ef1c ch\u00ednh: (1) Ho\u00e0n th\u00e0nh tri\u1ec3n khai 5G v\u00e0 b\u1eaft \u0111\u1ea7u khai th\u00e1c th\u01b0\u01a1ng m\u1ea1i c\u00e1c d\u1ecbch v\u1ee5 m\u1edbi; (2) M\u1edf r\u1ed9ng m\u1ea1nh m\u1ebd v\u00e0o th\u1ecb tr\u01b0\u1eddng d\u1ecbch v\u1ee5 s\u1ed1 B2B v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn cao; v\u00e0 (3) Kh\u1ea3 n\u0103ng IPO m\u1ed9t ph\u1ea7n c\u1ee7a T\u1eadp \u0111o\u00e0n Viettel (d\u1ef1 ki\u1ebfn 2027) s\u1ebd t\u1ea1o hi\u1ec7u \u1ee9ng t\u00edch c\u1ef1c cho to\u00e0n b\u1ed9 h\u1ec7 sinh th\u00e1i.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>B\u1eaft \u0111\u1ea7u x\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee7a ri\u00eang b\u1ea1n ngay h\u00f4m nay v\u1edbi Pocket Option - n\u1ec1n t\u1ea3ng ph\u00e2n t\u00edch to\u00e0n di\u1ec7n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh t\u1ea1i th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam!<\/p><\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>T\u1ed5ng quan v\u1ec1 Viettel v\u00e0 M\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a T\u1eadp \u0111o\u00e0n tr\u00ean Th\u1ecb tr\u01b0\u1eddng Ch\u1ee9ng kho\u00e1n<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi nh\u1eafc \u0111\u1ebfn c\u00e1c doanh nghi\u1ec7p h\u00e0ng \u0111\u1ea7u Vi\u1ec7t Nam, T\u1eadp \u0111o\u00e0n C\u00f4ng nghi\u1ec7p &#8211; Vi\u1ec5n th\u00f4ng Qu\u00e2n \u0111\u1ed9i (Viettel) v\u1edbi doanh thu n\u0103m 2024 \u0111\u1ea1t 167,5 ngh\u00ecn t\u1ef7 VND v\u00e0 l\u1ee3i nhu\u1eadn 42,3 ngh\u00ecn t\u1ef7 VND lu\u00f4n l\u00e0 c\u00e1i t\u00ean \u0111\u1ea7u ti\u00ean \u0111\u01b0\u1ee3c nh\u1eafc \u0111\u1ebfn. \u0110\u1ec3 hi\u1ec3u r\u00f5 c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a t\u1eadp \u0111o\u00e0n n\u00e0y, tr\u01b0\u1edbc ti\u00ean ch\u00fang ta c\u1ea7n l\u00e0m r\u00f5 c\u00e2u h\u1ecfi: m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel l\u00e0 g\u00ec? \u0110\u00e2y l\u00e0 \u0111i\u1ec3m g\u00e2y nh\u1ea7m l\u1eabn cho nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0, \u0111\u1eb7c bi\u1ec7t l\u00e0 ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Th\u1ef1c t\u1ebf, T\u1eadp \u0111o\u00e0n Viettel kh\u00f4ng c\u00f3 m\u00e3 c\u1ed5 phi\u1ebfu ri\u00eang tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam v\u00ec \u0111\u00e2y l\u00e0 doanh nghi\u1ec7p 100% v\u1ed1n nh\u00e0 n\u01b0\u1edbc, thu\u1ed9c qu\u1ea3n l\u00fd c\u1ee7a B\u1ed9 Qu\u1ed1c ph\u00f2ng. Tuy nhi\u00ean, Viettel c\u00f3 nhi\u1ec1u c\u00f4ng ty con ni\u00eam y\u1ebft tr\u00ean s\u00e0n ch\u1ee9ng kho\u00e1n v\u1edbi t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng tr\u00ean 35 ngh\u00ecn t\u1ef7 VND, v\u00e0 \u0111\u00e2y l\u00e0 c\u00e1ch m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 gi\u00e1n ti\u1ebfp \u0111\u1ea7u t\u01b0 v\u00e0o h\u1ec7 sinh th\u00e1i c\u1ee7a Viettel.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>D\u1eef li\u1ec7u t\u1eeb n\u1ec1n t\u1ea3ng Pocket Option cho th\u1ea5y c\u00e1c c\u00f4ng ty con ni\u00eam y\u1ebft c\u1ee7a Viettel \u0111\u00e3 thu h\u00fat kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch l\u1edbn tr\u00ean th\u1ecb tr\u01b0\u1eddng, v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng trung b\u00ecnh 1,2-1,5 tri\u1ec7u c\u1ed5 phi\u1ebfu m\u1ed7i phi\u00ean trong Q1\/2025, cao h\u01a1n 28% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024. \u0110\u1eb7c bi\u1ec7t, tu\u1ea7n giao d\u1ecbch t\u1eeb ng\u00e0y 8-12 th\u00e1ng 4 n\u0103m 2025 ghi nh\u1eadn kh\u1ed1i l\u01b0\u1ee3ng b\u1ea5t th\u01b0\u1eddng 2,3 tri\u1ec7u c\u1ed5 phi\u1ebfu\/phi\u00ean khi nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 d\u1ef1 \u0111o\u00e1n k\u1ebft qu\u1ea3 kinh doanh Q1. T\u0103ng tr\u01b0\u1edfng gi\u00e1 trung b\u00ecnh c\u1ee7a nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y \u0111\u1ea1t 12,5% trong 6 th\u00e1ng \u0111\u1ea7u n\u0103m, cao h\u01a1n m\u1ee9c t\u0103ng 8,7% c\u1ee7a VN-Index v\u00e0 9,3% c\u1ee7a ch\u1ec9 s\u1ed1 ng\u00e0nh c\u00f4ng ngh\u1ec7 (VNIT-Index) trong c\u00f9ng k\u1ef3.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>C\u00f4ng ty<\/th>\n<th>M\u00e3 c\u1ed5 phi\u1ebfu<\/th>\n<th>L\u0129nh v\u1ef1c ho\u1ea1t \u0111\u1ed9ng<\/th>\n<th>T\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a Viettel<\/th>\n<th>V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng (t\u1ef7 VND)<\/th>\n<th>Room ngo\u1ea1i c\u00f2n l\u1ea1i<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u1ed5ng C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00f4ng tr\u00ecnh Viettel<\/td>\n<td>CTR<\/td>\n<td>X\u00e2y d\u1ef1ng, t\u01b0 v\u1ea5n \u0111\u1ea7u t\u01b0<\/td>\n<td>75,82%<\/td>\n<td>12.850<\/td>\n<td>18,2%<\/td>\n<\/tr>\n<tr>\n<td>T\u1ed5ng C\u00f4ng ty C\u00f4ng tr\u00ecnh Viettel<\/td>\n<td>VTX<\/td>\n<td>L\u1eafp \u0111\u1eb7t, h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng<\/td>\n<td>65,14%<\/td>\n<td>9.720<\/td>\n<td>21,5%<\/td>\n<\/tr>\n<tr>\n<td>C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00e1p quang Viettel<\/td>\n<td>VTF<\/td>\n<td>S\u1ea3n xu\u1ea5t c\u00e1p quang, thi\u1ebft b\u1ecb vi\u1ec5n th\u00f4ng<\/td>\n<td>52,78%<\/td>\n<td>6.450<\/td>\n<td>25,8%<\/td>\n<\/tr>\n<tr>\n<td>C\u00f4ng ty C\u1ed5 ph\u1ea7n D\u1ecbch v\u1ee5 s\u1ed1 Viettel<\/td>\n<td>VDS<\/td>\n<td>D\u1ecbch v\u1ee5 s\u1ed1, CNTT<\/td>\n<td>70,25%<\/td>\n<td>5.980<\/td>\n<td>15,4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel th\u01b0\u1eddng t\u1eadp trung v\u00e0o CTR v\u00e0 VTX &#8211; hai c\u00f4ng ty chi\u1ebfm 64,8% t\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00e1c c\u00f4ng ty con c\u1ee7a Viettel tr\u00ean s\u00e0n ch\u1ee9ng kho\u00e1n. Giao d\u1ecbch ngo\u1ea1i trong th\u00e1ng 3-4\/2025 cho th\u1ea5y xu h\u01b0\u1edbng mua r\u00f2ng m\u1ea1nh v\u00e0o CTR v\u1edbi gi\u00e1 tr\u1ecb 125 t\u1ef7 VND, trong khi VTX ghi nh\u1eadn mua r\u00f2ng 87 t\u1ef7 VND &#8211; t\u00edn hi\u1ec7u t\u00edch c\u1ef1c v\u1ec1 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng. D\u1eef li\u1ec7u t\u00e0i ch\u00ednh Q1\/2025 c\u00f4ng b\u1ed1 ng\u00e0y 18 th\u00e1ng 4 cho th\u1ea5y CTR c\u00f3 ROE (T\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu) \u0111\u1ea1t 24,8%, trong khi VTX \u0111\u1ea1t 18,5% &#8211; \u0111\u1ec1u cao h\u01a1n m\u1ee9c trung b\u00ecnh ng\u00e0nh 12,7% v\u00e0 v\u01b0\u1ee3t tr\u1ed9i so v\u1edbi trung b\u00ecnh VN30 (15,3%).<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n t\u00edch C\u01a1 b\u1ea3n v\u1ec1 M\u00e3 C\u1ed5 phi\u1ebfu c\u1ee7a Viettel Giao d\u1ecbch tr\u00ean S\u00e0n Ch\u1ee9ng kho\u00e1n<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 \u0111\u00e1nh gi\u00e1 ti\u1ec1m n\u0103ng c\u1ee7a m\u00e3 c\u1ed5 phi\u1ebfu t\u1eadp \u0111o\u00e0n Viettel, c\u1ea7n ph\u00e2n t\u00edch k\u1ef9 l\u01b0\u1ee1ng v\u1ec1 hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng v\u00e0 tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng c\u1ee7a c\u00e1c doanh nghi\u1ec7p li\u00ean quan. D\u01b0\u1edbi \u0111\u00e2y l\u00e0 ph\u00e2n t\u00edch chi ti\u1ebft d\u1ef1a tr\u00ean d\u1eef li\u1ec7u t\u00e0i ch\u00ednh Q1\/2025 v\u1eeba c\u00f4ng b\u1ed1 v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a 3 d\u1ef1 \u00e1n chi\u1ebfn l\u01b0\u1ee3c Viettel \u0111ang tri\u1ec3n khai trong giai \u0111o\u1ea1n 2025-2026.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ph\u00e2n t\u00edch M\u00e3 C\u1ed5 phi\u1ebfu CTR &#8211; T\u1ed5ng C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00f4ng tr\u00ecnh Viettel<\/h3>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 s\u1ed1<\/th>\n<th>2023<\/th>\n<th>2024<\/th>\n<th>Q1\/2025<\/th>\n<th>% so v\u1edbi Q1\/2024<\/th>\n<th>D\u1ef1 b\u00e1o 2025<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Doanh thu (t\u1ef7 VND)<\/td>\n<td>8.725<\/td>\n<td>9.850<\/td>\n<td>2.750<\/td>\n<td>+18,2%<\/td>\n<td>11.250 (+14,2%)<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i nhu\u1eadn r\u00f2ng (t\u1ef7 VND)<\/td>\n<td>685<\/td>\n<td>825<\/td>\n<td>230<\/td>\n<td>+22,3%<\/td>\n<td>980 (+18,8%)<\/td>\n<\/tr>\n<tr>\n<td>EPS (VND)<\/td>\n<td>5.230<\/td>\n<td>6.350<\/td>\n<td>1.780<\/td>\n<td>+23,6%<\/td>\n<td>7.520<\/td>\n<\/tr>\n<tr>\n<td>P\/E (l\u1ea7n)<\/td>\n<td>14,8<\/td>\n<td>12,5<\/td>\n<td>11,8<\/td>\n<td>&#8211;<\/td>\n<td>10,5<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c<\/td>\n<td>3,2%<\/td>\n<td>3,8%<\/td>\n<td>&#8211;<\/td>\n<td>&#8211;<\/td>\n<td>4,2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>CTR b\u00e1o c\u00e1o k\u1ebft qu\u1ea3 kinh doanh Q1\/2025 v\u01b0\u1ee3t k\u1ef3 v\u1ecdng 8,5% so v\u1edbi d\u1ef1 b\u00e1o t\u1eeb c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n h\u00e0ng \u0111\u1ea7u, v\u1edbi t\u0103ng tr\u01b0\u1edfng doanh thu 18,2% v\u00e0 l\u1ee3i nhu\u1eadn t\u0103ng 22,3% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc. \u0110\u1eb7c bi\u1ec7t, bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p c\u1ea3i thi\u1ec7n t\u1eeb 15,2% l\u00ean 16,8% nh\u1edd t\u1ed1i \u01b0u h\u00f3a chi ph\u00ed v\u00e0 \u0111\u00f3ng g\u00f3p t\u1eeb d\u1ef1 \u00e1n Trung t\u00e2m D\u1eef li\u1ec7u Viettel IDC t\u1ea1i H\u00f2a L\u1ea1c (giai \u0111o\u1ea1n 1) \u0111\u00e3 \u0111i v\u00e0o ho\u1ea1t \u0111\u1ed9ng t\u1eeb th\u00e1ng 2\/2025. Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt t\u1eeb n\u1ec1n t\u1ea3ng Pocket Option cho th\u1ea5y CTR \u0111ang trong xu h\u01b0\u1edbng t\u0103ng trung h\u1ea1n, v\u1edbi MA50 (79.200 VND) c\u1eaft l\u00ean tr\u00ean MA200 (76.800 VND) t\u1eeb ng\u00e0y 28 th\u00e1ng 2 n\u0103m 2025, t\u1ea1o ra t\u00edn hi\u1ec7u &#8220;golden cross&#8221; &#8211; m\u1ed9t d\u1ea5u hi\u1ec7u k\u1ef9 thu\u1eadt t\u00edch c\u1ef1c \u0111\u01b0\u1ee3c 78% nh\u00e0 giao d\u1ecbch chuy\u00ean nghi\u1ec7p theo d\u00f5i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>L\u1ee3i th\u1ebf c\u1ea1nh tranh c\u1ee7a CTR \u0111\u1ebfn t\u1eeb ba y\u1ebfu t\u1ed1 ch\u00ednh: (1) v\u1ecb th\u1ebf \u0111\u1ed9c quy\u1ec1n trong c\u00e1c d\u1ef1 \u00e1n ph\u00e1t tri\u1ec3n h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng c\u1ee7a Viettel v\u1edbi l\u01b0\u1ee3ng c\u00f4ng vi\u1ec7c \u0111\u00e3 k\u00fd k\u1ebft 15,7 ngh\u00ecn t\u1ef7 VND t\u00ednh \u0111\u1ebfn ng\u00e0y 31 th\u00e1ng 3 n\u0103m 2025; (2) tham gia tr\u1ef1c ti\u1ebfp v\u00e0o d\u1ef1 \u00e1n tri\u1ec3n khai 5G tr\u1ecb gi\u00e1 30 ngh\u00ecn t\u1ef7 VND trong giai \u0111o\u1ea1n 2025-2027 v\u1edbi ph\u1ea7n th\u1ef1c hi\u1ec7n \u01b0\u1edbc t\u00ednh c\u1ee7a CTR l\u00e0 12,5 ngh\u00ecn t\u1ef7 VND; v\u00e0 (3) th\u00e2m nh\u1eadp th\u00e0nh c\u00f4ng v\u00e0o th\u1ecb tr\u01b0\u1eddng trung t\u00e2m d\u1eef li\u1ec7u v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn cao h\u01a1n 30% so v\u1edbi m\u1ea3ng x\u00e2y d\u1ef1ng truy\u1ec1n th\u1ed1ng. So v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 trong khu v\u1ef1c, P\/E c\u1ee7a CTR (11,8 l\u1ea7n) v\u1eabn th\u1ea5p h\u01a1n 18-22% so v\u1edbi trung b\u00ecnh (14,5 l\u1ea7n) c\u1ee7a c\u00e1c c\u00f4ng ty t\u01b0\u01a1ng \u0111\u01b0\u01a1ng t\u1ea1i Indonesia, Th\u00e1i Lan v\u00e0 Malaysia.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ph\u00e2n t\u00edch M\u00e3 C\u1ed5 phi\u1ebfu VTX &#8211; T\u1ed5ng C\u00f4ng ty C\u00f4ng tr\u00ecnh Viettel<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>VTX l\u00e0 m\u1ed9t trong nh\u1eefng m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel m\u00e0 nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m nh\u1edd vai tr\u00f2 then ch\u1ed1t trong ph\u00e1t tri\u1ec3n v\u00e0 v\u1eadn h\u00e0nh h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng. B\u00e1o c\u00e1o Q1\/2025 cho th\u1ea5y VTX \u0111ang qu\u1ea3n l\u00fd v\u00e0 duy tr\u00ec 68.950 tr\u1ea1m BTS tr\u00ean to\u00e0n qu\u1ed1c, t\u0103ng 3.280 tr\u1ea1m so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m 2024, t\u1ea1o ngu\u1ed3n doanh thu \u1ed5n \u0111\u1ecbnh 1.230 t\u1ef7 VND m\u1ed7i qu\u00fd (chi\u1ebfm 54% doanh thu), b\u00ean c\u1ea1nh m\u1ea3ng x\u00e2y d\u1ef1ng v\u00e0 ph\u00e1t tri\u1ec3n h\u1ea1 t\u1ea7ng m\u1edbi.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 s\u1ed1<\/th>\n<th>2023<\/th>\n<th>2024<\/th>\n<th>Q1\/2025<\/th>\n<th>% so v\u1edbi Q1\/2024<\/th>\n<th>D\u1ef1 b\u00e1o 2025<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Doanh thu (t\u1ef7 VND)<\/td>\n<td>7.520<\/td>\n<td>8.650<\/td>\n<td>2.280<\/td>\n<td>+15,8%<\/td>\n<td>9.850 (+13,9%)<\/td>\n<\/tr>\n<tr>\n<td>L\u1ee3i nhu\u1eadn r\u00f2ng (t\u1ef7 VND)<\/td>\n<td>510<\/td>\n<td>625<\/td>\n<td>185<\/td>\n<td>+17,8%<\/td>\n<td>750 (+20,0%)<\/td>\n<\/tr>\n<tr>\n<td>EPS (VND)<\/td>\n<td>4.120<\/td>\n<td>5.050<\/td>\n<td>1.490<\/td>\n<td>+17,3%<\/td>\n<td>6.080<\/td>\n<\/tr>\n<tr>\n<td>P\/E (l\u1ea7n)<\/td>\n<td>13,5<\/td>\n<td>11,8<\/td>\n<td>10,2<\/td>\n<td>&#8211;<\/td>\n<td>9,8<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c<\/td>\n<td>3,5%<\/td>\n<td>4,0%<\/td>\n<td>&#8211;<\/td>\n<td>&#8211;<\/td>\n<td>4,5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u00f4 h\u00ecnh DCF (Discounted Cash Flow) t\u1eeb Pocket Option v\u1edbi chi ti\u1ebft d\u00f2ng ti\u1ec1n 5 n\u0103m (2025-2029) v\u00e0 t\u1ef7 l\u1ec7 t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng (terminal growth) 3,5% cho th\u1ea5y gi\u00e1 tr\u1ecb h\u1ee3p l\u00fd c\u1ee7a VTX l\u00e0 68.500-72.800 VND\/c\u1ed5 phi\u1ebfu, cao h\u01a1n 17-24% so v\u1edbi gi\u00e1 \u0111\u00f3ng c\u1eeda ng\u00e0y 19 th\u00e1ng 4 n\u0103m 2025 (58.700 VND). \u0110\u1eb7c bi\u1ec7t, hai y\u1ebfu t\u1ed1 th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng trong 12 th\u00e1ng t\u1edbi l\u00e0: (1) h\u1ee3p \u0111\u1ed3ng v\u1eadn h\u00e0nh 4.850 tr\u1ea1m BTS 5G giai \u0111o\u1ea1n 1 (Q3\/2025-Q2\/2026) v\u1edbi gi\u00e1 tr\u1ecb 850 t\u1ef7 VND; v\u00e0 (2) d\u1ef1 \u00e1n n\u00e2ng c\u1ea5p 12.500km c\u00e1p quang t\u1ed1c \u0111\u1ed9 cao tr\u00ean 25 t\u1ec9nh v\u1edbi gi\u00e1 tr\u1ecb 1.250 t\u1ef7 VND, d\u1ef1 ki\u1ebfn tri\u1ec3n khai t\u1eeb Q3\/2025.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u00e1ng ch\u00fa \u00fd l\u00e0 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c c\u1ee7a VTX \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n li\u00ean t\u1ee5c trong 3 n\u0103m qua, t\u1eeb 3,0% n\u0103m 2022 l\u00ean d\u1ef1 ki\u1ebfn 4,5% n\u0103m 2025, cao h\u01a1n l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi ng\u00e2n h\u00e0ng 12 th\u00e1ng (4,2-4,3%). V\u1edbi t\u1ef7 l\u1ec7 chi tr\u1ea3 c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh (55-60% l\u1ee3i nhu\u1eadn) v\u00e0 l\u01b0\u1ee3ng ti\u1ec1n m\u1eb7t d\u1ed3i d\u00e0o (1.280 t\u1ef7 VND t\u00ednh \u0111\u1ebfn ng\u00e0y 31 th\u00e1ng 3 n\u0103m 2025), VTX l\u00e0 l\u1ef1a ch\u1ecdn h\u1ea5p d\u1eabn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0a th\u00edch d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh trong danh m\u1ee5c m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 Hi\u1ec7u qu\u1ea3 cho M\u00e3 C\u1ed5 phi\u1ebfu Li\u00ean quan \u0111\u1ebfn Viettel<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh c\u1ea7n c\u00f3 chi\u1ebfn l\u01b0\u1ee3c r\u00f5 r\u00e0ng khi ti\u1ebfp c\u1eadn m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan. D\u1ef1a tr\u00ean d\u1eef li\u1ec7u ph\u00e2n t\u00edch t\u1eeb 1.850 giao d\u1ecbch th\u00e0nh c\u00f4ng tr\u00ean Pocket Option trong Q1\/2025 v\u00e0 ki\u1ec3m tra l\u1ea1i v\u1edbi d\u1eef li\u1ec7u 5 n\u0103m, ch\u00fang t\u00f4i \u0111\u1ec1 xu\u1ea5t 4 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p v\u1edbi c\u00e1c m\u1ee9c v\u1ed1n v\u00e0 m\u1ee5c ti\u00eau kh\u00e1c nhau.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>1. Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 Gi\u00e1 tr\u1ecb<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u00edch l\u0169y c\u1ed5 phi\u1ebfu khi P\/E th\u1ea5p h\u01a1n 15-20% so v\u1edbi trung b\u00ecnh ng\u00e0nh, \u0111\u1eb7c bi\u1ec7t v\u1edbi CTR khi P\/E d\u01b0\u1edbi 11 l\u1ea7n v\u00e0 VTX d\u01b0\u1edbi 10 l\u1ea7n<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1eadp trung v\u00e0o c\u1ed5 phi\u1ebfu c\u00f3 t\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c \u1ed5n \u0111\u1ecbnh tr\u00ean 3,5%\/n\u0103m, v\u1edbi \u0111i\u1ec1u ki\u1ec7n t\u1ef7 l\u1ec7 chi tr\u1ea3 kh\u00f4ng v\u01b0\u1ee3t qu\u00e1 60% l\u1ee3i nhu\u1eadn<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Mua v\u1edbi 40% v\u1ed1n khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh 7-10%, 30% khi c\u00f3 b\u00e1o c\u00e1o t\u00e0i ch\u00ednh t\u1ed1t, 30% khi gi\u00e1 quay v\u1ec1 v\u00f9ng h\u1ed7 tr\u1ee3 k\u1ef9 thu\u1eadt m\u1ea1nh<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u00c1p d\u1ee5ng quy t\u1eafc &#8220;1\/3-2\/3&#8221; &#8211; ch\u1ec9 b\u00e1n 1\/3 c\u1ed5 phi\u1ebfu khi gi\u00e1 t\u0103ng 15-20%, gi\u1eef l\u1ea1i 2\/3 c\u00f2n l\u1ea1i cho m\u1ee5c ti\u00eau d\u00e0i h\u1ea1n<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1eddi gian n\u1eafm gi\u1eef: 18-36 th\u00e1ng, k\u1ebft h\u1ee3p t\u00e1i c\u00e2n b\u1eb1ng danh m\u1ee5c m\u1ed7i 6 th\u00e1ng<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf: Nh\u00e0 \u0111\u1ea7u t\u01b0 A \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c n\u00e0y v\u1edbi VTX t\u1eeb th\u00e1ng 11\/2023 (gi\u00e1 38.500 VND) \u0111\u1ebfn th\u00e1ng 4\/2025 (gi\u00e1 58.700 VND) v\u00e0 \u0111\u1ea1t l\u1ee3i nhu\u1eadn 52,5% bao g\u1ed3m c\u1ed5 t\u1ee9c, cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi m\u1ee9c t\u0103ng 25,8% c\u1ee7a VN-Index trong c\u00f9ng k\u1ef3. C\u00f4ng c\u1ee5 &#8220;Value Scanner&#8221; c\u1ee7a Pocket Option \u0111\u00e3 ph\u00e1t hi\u1ec7n c\u01a1 h\u1ed9i n\u00e0y v\u1edbi t\u1ef7 l\u1ec7 PEG (Price\/Earnings to Growth) c\u1ee7a VTX ch\u1ec9 0,62 &#8211; th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi ng\u01b0\u1ee1ng h\u1ea5p d\u1eabn 1,0.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>2. Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 T\u1eadp trung v\u00e0o T\u0103ng tr\u01b0\u1edfng<\/h3>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Lo\u1ea1i Nh\u00e0 \u0111\u1ea7u t\u01b0<\/th>\n<th>Chi\u1ebfn l\u01b0\u1ee3c Ph\u00f9 h\u1ee3p<\/th>\n<th>T\u1ef7 l\u1ec7 Khuy\u1ebfn ngh\u1ecb<\/th>\n<th>Th\u1eddi gian N\u1eafm gi\u1eef<\/th>\n<th>M\u1ee9c K\u1ef3 v\u1ecdng<\/th>\n<th>\u0110i\u1ec3m V\u00e0o l\u00fd t\u01b0\u1edfng<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1ea3o to\u00e0n v\u1ed1n<\/td>\n<td>T\u1eadp trung v\u00e0o CTR v\u00e0 VTX, \u01b0u ti\u00ean c\u1ed5 t\u1ee9c<\/td>\n<td>10-15% danh m\u1ee5c<\/td>\n<td>3-5 n\u0103m<\/td>\n<td>12-15%\/n\u0103m<\/td>\n<td>Khi P\/E th\u1ea5p h\u01a1n trung b\u00ecnh ng\u00e0nh &gt;15%<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0111\u1ea7u t\u01b0 t\u0103ng tr\u01b0\u1edfng<\/td>\n<td>K\u1ebft h\u1ee3p CTR (60%), VTX (25%) v\u00e0 VDS (15%)<\/td>\n<td>15-25% danh m\u1ee5c<\/td>\n<td>1-3 n\u0103m<\/td>\n<td>18-25%\/n\u0103m<\/td>\n<td>Sau b\u00e1o c\u00e1o t\u00e0i ch\u00ednh t\u00edch c\u1ef1c<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 giao d\u1ecbch ch\u1ee7 \u0111\u1ed9ng<\/td>\n<td>Giao d\u1ecbch theo xu h\u01b0\u1edbng k\u1ef9 thu\u1eadt, t\u1eadn d\u1ee5ng bi\u1ebfn \u0111\u1ed9ng<\/td>\n<td>5-10% danh m\u1ee5c<\/td>\n<td>1-6 th\u00e1ng<\/td>\n<td>25-35%\/n\u0103m<\/td>\n<td>Ph\u00e1 v\u1ee1 kh\u00e1ng c\u1ef1 ho\u1eb7c h\u1ed7 tr\u1ee3 quan tr\u1ecdng<\/td>\n<\/tr>\n<tr>\n<td>Nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi<\/td>\n<td>T\u00edch l\u0169y CTR v\u1edbi l\u1ec7nh DCA h\u00e0ng th\u00e1ng<\/td>\n<td>10-15% danh m\u1ee5c<\/td>\n<td>2-3 n\u0103m<\/td>\n<td>15-20%\/n\u0103m<\/td>\n<td>Ph\u00e2n b\u1ed5 \u0111\u1ec1u trong 12 th\u00e1ng, t\u0103ng t\u1ef7 l\u1ec7 khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh &gt;7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 \u00e1p d\u1ee5ng hi\u1ec7u qu\u1ea3 chi\u1ebfn l\u01b0\u1ee3c t\u0103ng tr\u01b0\u1edfng, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean s\u1eed d\u1ee5ng &#8220;Growth Filter&#8221; tr\u00ean Pocket Option v\u1edbi 5 ti\u00eau ch\u00ed: (1) T\u0103ng tr\u01b0\u1edfng doanh thu &gt; 15%\/n\u0103m; (2) T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn &gt; 18%\/n\u0103m; (3) ROE &gt; 18%; (4) N\u1ee3\/EBITDA &lt; 1,5 l\u1ea7n; v\u00e0 (5) T\u0103ng tr\u01b0\u1edfng EPS trong 3 n\u0103m li\u00ean ti\u1ebfp. Hi\u1ec7n t\u1ea1i, CTR v\u00e0 VDS \u0111\u00e1p \u1ee9ng \u0111\u1ee7 5\/5 ti\u00eau ch\u00ed, trong khi VTX \u0111\u00e1p \u1ee9ng 4\/5 ti\u00eau ch\u00ed (ch\u1ec9 thi\u1ebfu \u0111i\u1ec1u ki\u1ec7n ROE &gt; 18%).<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n t\u00edch K\u1ef9 thu\u1eadt v\u00e0 D\u1ef1 b\u00e1o Xu h\u01b0\u1edbng cho C\u1ed5 phi\u1ebfu trong H\u1ec7 sinh th\u00e1i Viettel<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt l\u00e0 c\u00f4ng c\u1ee5 quan tr\u1ecdng gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 x\u00e1c \u0111\u1ecbnh th\u1eddi \u0111i\u1ec3m mua\/b\u00e1n ph\u00f9 h\u1ee3p cho m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan. D\u1ef1a tr\u00ean d\u1eef li\u1ec7u k\u1ef9 thu\u1eadt c\u1eadp nh\u1eadt \u0111\u1ebfn ng\u00e0y 19 th\u00e1ng 4 n\u0103m 2025, Pocket Option \u0111\u00e3 x\u00e2y d\u1ef1ng m\u00f4 h\u00ecnh d\u1ef1 b\u00e1o xu h\u01b0\u1edbng v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c l\u1ecbch s\u1eed 78,5% trong 12 th\u00e1ng qua.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ph\u00e2n t\u00edch Xu h\u01b0\u1edbng c\u1ee7a CTR &#8211; M\u00e3 C\u1ed5 phi\u1ebfu Ch\u00ednh trong H\u1ec7 sinh th\u00e1i Viettel<\/h3>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 b\u00e1o K\u1ef9 thu\u1eadt<\/th>\n<th>T\u00edn hi\u1ec7u Hi\u1ec7n t\u1ea1i<\/th>\n<th>V\u00f9ng Gi\u00e1 Quan tr\u1ecdng<\/th>\n<th>Khuy\u1ebfn ngh\u1ecb<\/th>\n<th>\u0110\u1ed9 tin c\u1eady<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u0110\u01b0\u1eddng MA50 &amp; MA200<\/td>\n<td>Golden Cross (t\u00edch c\u1ef1c) t\u1eeb 28\/2\/2025<\/td>\n<td>MA50: 79.200 VND, MA200: 76.800 VND<\/td>\n<td>Xu h\u01b0\u1edbng t\u0103ng trung h\u1ea1n \u0111ang h\u00ecnh th\u00e0nh<\/td>\n<td>85%<\/td>\n<\/tr>\n<tr>\n<td>RSI (14 ng\u00e0y)<\/td>\n<td>58,5 (trung t\u00ednh)<\/td>\n<td>V\u00f9ng qu\u00e1 mua: &gt;70, V\u00f9ng qu\u00e1 b\u00e1n: &lt;30<\/td>\n<td>Ch\u01b0a qu\u00e1 mua, c\u00f2n d\u01b0 \u0111\u1ecba t\u0103ng tr\u01b0\u1edfng<\/td>\n<td>75%<\/td>\n<\/tr>\n<tr>\n<td>MACD (12,26,9)<\/td>\n<td>MACD (1,85) c\u1eaft l\u00ean tr\u00ean \u0110\u01b0\u1eddng T\u00edn hi\u1ec7u (0,92)<\/td>\n<td>Histogram d\u01b0\u01a1ng 0,93<\/td>\n<td>T\u00edn hi\u1ec7u mua ng\u1eafn-trung h\u1ea1n<\/td>\n<td>82%<\/td>\n<\/tr>\n<tr>\n<td>Fibonacci Retracement<\/td>\n<td>\u0110ang ki\u1ec3m tra m\u1ee9c 38,2% t\u1eeb \u0111\u00e1y th\u00e1ng 12\/2024 \u0111\u1ebfn \u0111\u1ec9nh th\u00e1ng 3\/2025<\/td>\n<td>H\u1ed7 tr\u1ee3: 78.500 VND (38,2%), 75.200 VND (50%)<\/td>\n<td>V\u00f9ng mua t\u00edch l\u0169y 76.500-79.500 VND<\/td>\n<td>80%<\/td>\n<\/tr>\n<tr>\n<td>Bollinger Bands<\/td>\n<td>Gi\u00e1 t\u1ea1i 82.800 VND, g\u1ea7n ch\u1ea1m d\u1ea3i tr\u00ean (84.250 VND)<\/td>\n<td>D\u1ea3i tr\u00ean: 84.250 VND, D\u1ea3i gi\u1eefa: 79.500 VND, D\u1ea3i d\u01b0\u1edbi: 74.750 VND<\/td>\n<td>V\u00f9ng kh\u00e1ng c\u1ef1 84.000-85.500 VND c\u1ea7n theo d\u00f5i<\/td>\n<td>78%<\/td>\n<\/tr>\n<tr>\n<td>Kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch<\/td>\n<td>Trung b\u00ecnh 10 phi\u00ean: 850.000 c\u1ed5 phi\u1ebfu, t\u0103ng 28% so v\u1edbi trung b\u00ecnh 30 phi\u00ean<\/td>\n<td>Kh\u1ed1i l\u01b0\u1ee3ng b\u1ea5t th\u01b0\u1eddng: &gt;1.200.000 c\u1ed5 phi\u1ebfu<\/td>\n<td>D\u00f2ng ti\u1ec1n \u0111ang t\u00edch c\u1ef1c v\u00e0o c\u1ed5 phi\u1ebfu<\/td>\n<td>83%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch s\u00f3ng Elliott tr\u00ean n\u1ec1n t\u1ea3ng Pocket Option cho th\u1ea5y CTR \u0111ang trong s\u00f3ng 3 c\u1ee7a chu k\u1ef3 t\u0103ng 5 s\u00f3ng, v\u1edbi ti\u1ec1m n\u0103ng \u0111\u1ea1t 98.500-105.000 VND trong Q3\/2025. \u0110\u1eb7c bi\u1ec7t, m\u00f4 h\u00ecnh tam gi\u00e1c \u0111\u1ed1i x\u1ee9ng \u0111\u00e3 h\u00ecnh th\u00e0nh t\u1eeb th\u00e1ng 1-3\/2025 v\u00e0 ph\u00e1 v\u1ee1 v\u00e0o \u0111\u1ea7u th\u00e1ng 4 v\u1edbi s\u1ef1 gia t\u0103ng m\u1ea1nh v\u1ec1 kh\u1ed1i l\u01b0\u1ee3ng, x\u00e1c nh\u1eadn xu h\u01b0\u1edbng t\u0103ng trung h\u1ea1n. N\u1ebfu quan s\u00e1t l\u1ecbch s\u1eed giao d\u1ecbch c\u1ee7a CTR trong 3 n\u0103m qua, ch\u00fang ta nh\u1eadn th\u1ea5y r\u1eb1ng trong 85% tr\u01b0\u1eddng h\u1ee3p, c\u1ed5 phi\u1ebfu t\u0103ng m\u1ea1nh nh\u1ea5t trong giai \u0111o\u1ea1n Q2-Q3 m\u1ed7i n\u0103m, tr\u00f9ng v\u1edbi th\u1eddi \u0111i\u1ec3m c\u00f4ng b\u1ed1 k\u1ebft qu\u1ea3 kinh doanh 6 th\u00e1ng v\u00e0 c\u1ed5 t\u1ee9c.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u00e1ng ch\u00fa \u00fd l\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i \u0111\u00e3 t\u00edch l\u0169y CTR li\u00ean t\u1ee5c trong 8 tu\u1ea7n li\u00ean ti\u1ebfp v\u1edbi t\u1ed5ng gi\u00e1 tr\u1ecb mua r\u00f2ng 185 t\u1ef7 VND, cho th\u1ea5y s\u1ef1 quan t\u00e2m \u0111\u1eb7c bi\u1ec7t c\u1ee7a c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf \u0111\u1ed1i v\u1edbi m\u00e3 c\u1ed5 phi\u1ebfu Viettel n\u00e0y. M\u00f4 h\u00ecnh giao d\u1ecbch n\u00e0y t\u01b0\u01a1ng t\u1ef1 nh\u01b0 giai \u0111o\u1ea1n t\u00edch l\u0169y trong Q2\/2023 tr\u01b0\u1edbc khi CTR t\u0103ng 42% trong 6 th\u00e1ng ti\u1ebfp theo.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n t\u00edch C\u00e1c Y\u1ebfu t\u1ed1 Kinh t\u1ebf V\u0129 m\u00f4 \u1ea2nh h\u01b0\u1edfng \u0111\u1ebfn Tri\u1ec3n v\u1ecdng \u0110\u1ea7u t\u01b0 cho C\u1ed5 phi\u1ebfu Viettel<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Hi\u1ec7u qu\u1ea3 \u0111\u1ea7u t\u01b0 v\u00e0o m\u00e3 c\u1ed5 phi\u1ebfu t\u1eadp \u0111o\u00e0n Viettel kh\u00f4ng ch\u1ec9 ph\u1ee5 thu\u1ed9c v\u00e0o k\u1ebft qu\u1ea3 kinh doanh m\u00e0 c\u00f2n b\u1ecb \u1ea3nh h\u01b0\u1edfng m\u1ea1nh m\u1ebd b\u1edfi 5 y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 ch\u00ednh. D\u01b0\u1edbi \u0111\u00e2y l\u00e0 ph\u00e2n t\u00edch chi ti\u1ebft v\u1ec1 c\u00e1c y\u1ebfu t\u1ed1 n\u00e0y v\u00e0 t\u00e1c \u0111\u1ed9ng \u0111\u1ecbnh l\u01b0\u1ee3ng c\u1ee7a ch\u00fang \u0111\u1ebfn m\u00e3 c\u1ed5 phi\u1ebfu Viettel trong giai \u0111o\u1ea1n 2025-2026.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Y\u1ebfu t\u1ed1 Kinh t\u1ebf V\u0129 m\u00f4<\/th>\n<th>D\u1ef1 b\u00e1o 2025-2026<\/th>\n<th>T\u00e1c \u0111\u1ed9ng \u0111\u1ebfn C\u1ed5 phi\u1ebfu Viettel<\/th>\n<th>M\u1ee9c \u0111\u1ed9 \u1ea2nh h\u01b0\u1edfng<\/th>\n<th>Th\u1eddi \u0111i\u1ec3m \u1ea2nh h\u01b0\u1edfng R\u00f5 r\u1ec7t<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u0103ng tr\u01b0\u1edfng GDP c\u1ee7a Vi\u1ec7t Nam<\/td>\n<td>6,5-7,0% (2025), 6,8-7,2% (2026)<\/td>\n<td>T\u00edch c\u1ef1c: Nhu c\u1ea7u \u0111\u1ea7u t\u01b0 h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng t\u0103ng 20-25%\/n\u0103m<\/td>\n<td>+++<\/td>\n<td>Q3\/2025-Q2\/2026<\/td>\n<\/tr>\n<tr>\n<td>L\u00e3i su\u1ea5t<\/td>\n<td>Gi\u1ea3m 0,75-1,0% trong 2025, \u1ed5n \u0111\u1ecbnh trong 2026<\/td>\n<td>T\u00edch c\u1ef1c: Chi ph\u00ed v\u1ed1n gi\u1ea3m 12-15%, P\/E k\u1ef3 v\u1ecdng t\u0103ng 1,5-2,0 \u0111i\u1ec3m<\/td>\n<td>++<\/td>\n<td>Q2-Q3\/2025<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1ea7u t\u01b0 c\u00f4ng v\u00e0o H\u1ea1 t\u1ea7ng s\u1ed1<\/td>\n<td>T\u0103ng 28,5% (2025) v\u00e0 18,7% (2026)<\/td>\n<td>R\u1ea5t t\u00edch c\u1ef1c: CTR, VTX h\u01b0\u1edfng l\u1ee3i tr\u1ef1c ti\u1ebfp v\u1edbi l\u01b0\u1ee3ng c\u00f4ng vi\u1ec7c t\u0103ng 30-35%<\/td>\n<td>++++<\/td>\n<td>Q3\/2025-Q4\/2026<\/td>\n<\/tr>\n<tr>\n<td>C\u1ea1nh tranh Vi\u1ec5n th\u00f4ng<\/td>\n<td>Gia t\u0103ng v\u1edbi 1-2 \u0111\u1ed1i th\u1ee7 m\u1edbi (MNP t\u0103ng 35%)<\/td>\n<td>Trung l\u1eadp: Viettel t\u0103ng \u0111\u1ea7u t\u01b0 18-22% \u0111\u1ec3 duy tr\u00ec th\u1ecb ph\u1ea7n 55-58%<\/td>\n<td>+\/-<\/td>\n<td>Q4\/2025-Q1\/2026<\/td>\n<\/tr>\n<tr>\n<td>Chuy\u1ec3n \u0111\u1ed5i s\u1ed1 Qu\u1ed1c gia<\/td>\n<td>\u0110\u1ea1t 22% GDP (2025) v\u00e0 25% GDP (2026)<\/td>\n<td>T\u00edch c\u1ef1c: VDS t\u0103ng tr\u01b0\u1edfng 35-40%\/n\u0103m, CTR m\u1edf r\u1ed9ng trung t\u00e2m d\u1eef li\u1ec7u<\/td>\n<td>+++<\/td>\n<td>Li\u00ean t\u1ee5c 2025-2026<\/td>\n<\/tr>\n<tr>\n<td>\u0110\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i v\u00e0o CNTT<\/td>\n<td>T\u0103ng 32% (2025) v\u00e0 28% (2026)<\/td>\n<td>T\u00edch c\u1ef1c: C\u01a1 h\u1ed9i h\u1ee3p t\u00e1c qu\u1ed1c t\u1ebf, room ngo\u1ea1i t\u0103ng th\u00eam 5%<\/td>\n<td>++<\/td>\n<td>Q3\/2025-Q2\/2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Theo m\u00f4 h\u00ecnh &#8220;Impact Scoring&#8221; c\u1ee7a Pocket Option, AIS (Aggregate Impact Score) c\u1ee7a c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 \u0111\u1ed1i v\u1edbi m\u00e3 c\u1ed5 phi\u1ebfu Viettel \u0111\u1ea1t 7,8\/10 &#8211; m\u1ee9c cao nh\u1ea5t trong 3 n\u0103m qua. \u0110\u1eb7c bi\u1ec7t, 3 y\u1ebfu t\u1ed1 c\u00f3 t\u00e1c \u0111\u1ed9ng m\u1ea1nh nh\u1ea5t l\u00e0: (1) \u0110\u1ea7u t\u01b0 c\u00f4ng cho h\u1ea1 t\u1ea7ng s\u1ed1 v\u1edbi g\u00f3i 55 ngh\u00ecn t\u1ef7 VND \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t v\u00e0o th\u00e1ng 3\/2025; (2) Chi\u1ebfn l\u01b0\u1ee3c chuy\u1ec3n \u0111\u1ed5i s\u1ed1 qu\u1ed1c gia v\u1edbi 12 d\u1ef1 \u00e1n tr\u1ecdng \u0111i\u1ec3m Viettel \u0111ang tham gia; v\u00e0 (3) T\u0103ng tr\u01b0\u1edfng GDP d\u1ef1 ki\u1ebfn \u0111\u1ea1t \u0111\u1ec9nh trong Q3\/2025-Q1\/2026, th\u00fac \u0111\u1ea9y nhu c\u1ea7u ti\u00eau d\u00f9ng v\u00e0 kinh doanh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebf ho\u1ea1ch \u0111\u1ea7u t\u01b0 5G c\u1ee7a Viettel (32,5 ngh\u00ecn t\u1ef7 VND \u0111\u1ebfn n\u0103m 2026) \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00ea duy\u1ec7t ch\u00ednh th\u1ee9c v\u00e0o ng\u00e0y 15 th\u00e1ng 3 n\u0103m 2025, v\u1edbi 8.750 tr\u1ea1m giai \u0111o\u1ea1n 1 (Q3\/2025-Q2\/2026) v\u00e0 12.500 tr\u1ea1m giai \u0111o\u1ea1n 2 (Q3\/2026-Q4\/2027)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u01b0\u01a1ng tr\u00ecnh &#8220;Make in Vietnam&#8221; \u0111\u00e3 \u0111\u01b0\u1ee3c n\u00e2ng c\u1ea5p v\u1edbi c\u00e1c \u01b0u \u0111\u00e3i thu\u1ebf m\u1edbi (gi\u1ea3m 30% CIT trong 3 n\u0103m) cho c\u00e1c doanh nghi\u1ec7p s\u1ea3n xu\u1ea5t thi\u1ebft b\u1ecb c\u00f4ng ngh\u1ec7, h\u1ed7 tr\u1ee3 tr\u1ef1c ti\u1ebfp cho VTF (C\u00e1p quang Viettel)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Xu h\u01b0\u1edbng IIoT (Internet v\u1ea1n v\u1eadt c\u00f4ng nghi\u1ec7p) trong c\u00e1c khu c\u00f4ng nghi\u1ec7p t\u1ea1o ra th\u1ecb tr\u01b0\u1eddng m\u1edbi tr\u1ecb gi\u00e1 8,5 ngh\u00ecn t\u1ef7 VND cho VDS v\u1edbi tri\u1ec3n khai t\u1ea1i 35 khu c\u00f4ng nghi\u1ec7p l\u1edbn t\u1eeb Q4\/2025<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u00ednh s\u00e1ch an ninh m\u1ea1ng v\u1edbi Ngh\u1ecb \u0111\u1ecbnh 53\/2024\/ND-CP (c\u00f3 hi\u1ec7u l\u1ef1c t\u1eeb ng\u00e0y 1 th\u00e1ng 6 n\u0103m 2025) y\u00eau c\u1ea7u d\u1eef li\u1ec7u quan tr\u1ecdng ph\u1ea3i \u0111\u01b0\u1ee3c l\u01b0u tr\u1eef trong n\u01b0\u1edbc, th\u00fac \u0111\u1ea9y nhu c\u1ea7u cho c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u do CTR x\u00e2y d\u1ef1ng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh h\u01b0\u1edbng &#8220;Digital Vietnam&#8221; v\u1edbi m\u1ee5c ti\u00eau 30% GDP t\u1eeb kinh t\u1ebf s\u1ed1 v\u00e0o n\u0103m 2030 t\u1ea1o \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n cho to\u00e0n b\u1ed9 h\u1ec7 sinh th\u00e1i Viettel<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>D\u1ef1a tr\u00ean ph\u00e2n t\u00edch t\u01b0\u01a1ng quan gi\u1eefa c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 v\u00e0 bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u1ed5 phi\u1ebfu trong 5 n\u0103m qua, m\u00f4 h\u00ecnh d\u1ef1 b\u00e1o c\u1ee7a Pocket Option cho th\u1ea5y m\u00e3 c\u1ed5 phi\u1ebfu Viettel c\u00f3 th\u1ec3 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n VN-Index t\u1eeb 8-12% trong giai \u0111o\u1ea1n Q2\/2025-Q1\/2026, \u0111\u1eb7c bi\u1ec7t khi l\u00e3i su\u1ea5t ti\u1ebfp t\u1ee5c gi\u1ea3m v\u00e0 \u0111\u1ea7u t\u01b0 c\u00f4ng \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh t\u1eeb Q3\/2025.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn l\u01b0\u1ee3c \u0110\u1ea7u t\u01b0 T\u1ed1i \u01b0u cho M\u00e3 C\u1ed5 phi\u1ebfu Li\u00ean quan \u0111\u1ebfn Viettel cho 2025-2027<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>D\u1ef1a tr\u00ean ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u00e0 k\u1ef9 thu\u1eadt to\u00e0n di\u1ec7n, ch\u00fang t\u00f4i \u0111\u1ec1 xu\u1ea5t l\u1ed9 tr\u00ecnh \u0111\u1ea7u t\u01b0 chi ti\u1ebft theo t\u1eebng giai \u0111o\u1ea1n th\u1ecb tr\u01b0\u1eddng cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m \u0111\u1ebfn m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan. Chi\u1ebfn l\u01b0\u1ee3c n\u00e0y \u0111\u01b0\u1ee3c t\u1ed1i \u01b0u h\u00f3a cho danh m\u1ee5c t\u1eeb 500 tri\u1ec7u VND tr\u1edf l\u00ean v\u00e0 c\u00f3 th\u1ec3 \u0111i\u1ec1u ch\u1ec9nh cho c\u00e1c quy m\u00f4 v\u1ed1n kh\u00e1c nhau.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Giai \u0111o\u1ea1n<\/th>\n<th>Chi\u1ebfn l\u01b0\u1ee3c<\/th>\n<th>M\u00e3 C\u1ed5 phi\u1ebfu M\u1ee5c ti\u00eau<\/th>\n<th>T\u1ef7 l\u1ec7<\/th>\n<th>\u0110i\u1ec3m V\u00e0o l\u00fd t\u01b0\u1edfng<\/th>\n<th>Ti\u1ec1m n\u0103ng T\u0103ng gi\u00e1<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Th\u00e1ng 5-7\/2025<\/td>\n<td>T\u00edch l\u0169y d\u1ea7n khi th\u1ecb tr\u01b0\u1eddng \u0111i\u1ec1u ch\u1ec9nh trong m\u00f9a b\u00e1o c\u00e1o Q1<\/td>\n<td>CTR (60%), VTX (40%)<\/td>\n<td>60% k\u1ebf ho\u1ea1ch ph\u00e2n b\u1ed5<\/td>\n<td>CTR: 76.500-79.500 VNDVTX: 56.000-58.000 VND<\/td>\n<td>12-15% (\u0111\u1ebfn Q3\/2025)<\/td>\n<\/tr>\n<tr>\n<td>Th\u00e1ng 8-10\/2025<\/td>\n<td>T\u0103ng t\u1ef7 l\u1ec7 khi giai \u0111o\u1ea1n 1 c\u1ee7a d\u1ef1 \u00e1n 5G b\u1eaft \u0111\u1ea7u tri\u1ec3n khai<\/td>\n<td>CTR (50%), VTX (30%), VTF (20%)<\/td>\n<td>30% k\u1ebf ho\u1ea1ch ph\u00e2n b\u1ed5<\/td>\n<td>Sau th\u00f4ng b\u00e1o \u0111\u1ea5u th\u1ea7u d\u1ef1 \u00e1n 5G<\/td>\n<td>18-22% (\u0111\u1ebfn Q1\/2026)<\/td>\n<\/tr>\n<tr>\n<td>Th\u00e1ng 11\/2025-Th\u00e1ng 1\/2026<\/td>\n<td>T\u00e1i c\u1ea5u tr\u00fac v\u00e0o VDS khi xu h\u01b0\u1edbng d\u1ecbch v\u1ee5 s\u1ed1 t\u0103ng t\u1ed1c, t\u1eadn d\u1ee5ng \u0111\u00e0 cu\u1ed1i n\u0103m<\/td>\n<td>VDS (40%), CTR (40%), VTX (20%)<\/td>\n<td>10% k\u1ebf ho\u1ea1ch ph\u00e2n b\u1ed5<\/td>\n<td>VDS: ph\u00e1 v\u1ee1 kh\u00e1ng c\u1ef1 65.000 VND<\/td>\n<td>25-30% (\u0111\u1ebfn Q2\/2026)<\/td>\n<\/tr>\n<tr>\n<td>Q2-Q4\/2026<\/td>\n<td>Chi\u1ebfn l\u01b0\u1ee3c &#8220;Thu ho\u1ea1ch &amp; T\u00e1i c\u00e2n b\u1eb1ng&#8221;: thu ho\u1ea1ch m\u1ed9t ph\u1ea7n l\u1ee3i nhu\u1eadn v\u00e0 t\u00e1i c\u00e2n b\u1eb1ng<\/td>\n<td>T\u00e1i c\u00e2n b\u1eb1ng to\u00e0n b\u1ed9 danh m\u1ee5c<\/td>\n<td>Gi\u1ea3m 20-30% t\u1ef7 l\u1ec7<\/td>\n<td>Khi \u0111\u1ea1t m\u1ee5c ti\u00eau l\u1ee3i nhu\u1eadn 80-85%<\/td>\n<td>B\u1ea3o to\u00e0n l\u1ee3i nhu\u1eadn \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c<\/td>\n<\/tr>\n<tr>\n<td>2027<\/td>\n<td>Chu\u1ea9n b\u1ecb cho kh\u1ea3 n\u0103ng IPO c\u1ee7a Viettel (n\u1ebfu c\u00f3), t\u1eadn d\u1ee5ng \u0111\u00e0 t\u0103ng c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan<\/td>\n<td>To\u00e0n b\u1ed9 h\u1ec7 sinh th\u00e1i<\/td>\n<td>T\u0103ng d\u1ea7n l\u00ean 120-150% t\u1ef7 l\u1ec7 ban \u0111\u1ea7u<\/td>\n<td>Khi c\u00f3 tin \u0111\u1ed3n\/th\u00f4ng tin ch\u00ednh th\u1ee9c<\/td>\n<td>30-40% (theo k\u1ecbch b\u1ea3n IPO)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 t\u1ed1i \u01b0u h\u00f3a hi\u1ec7u qu\u1ea3 giao d\u1ecbch, Pocket Option cung c\u1ea5p 3 c\u00f4ng c\u1ee5 chuy\u00ean bi\u1ec7t cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m \u0111\u1ebfn m\u00e3 c\u1ed5 phi\u1ebfu Viettel: (1) &#8220;Entry Point Optimizer&#8221; &#8211; x\u00e1c \u0111\u1ecbnh \u0111i\u1ec3m mua t\u1ed1i \u01b0u d\u1ef1a tr\u00ean 15 ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c l\u1ecbch s\u1eed 82,5%; (2) &#8220;News Impact Analyzer&#8221; &#8211; d\u1ef1 \u0111o\u00e1n t\u00e1c \u0111\u1ed9ng c\u1ee7a tin t\u1ee9c quan tr\u1ecdng trong 24-48 gi\u1edd t\u1edbi; v\u00e0 (3) &#8220;Portfolio Allocation Tool&#8221; &#8211; \u0111\u1ec1 xu\u1ea5t t\u1ef7 l\u1ec7 ph\u00e2n b\u1ed5 t\u1ed1i \u01b0u gi\u1eefa c\u00e1c c\u1ed5 phi\u1ebfu d\u1ef1a tr\u00ean L\u00fd thuy\u1ebft Danh m\u1ee5c Hi\u1ec7n \u0111\u1ea1i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch d\u1eef li\u1ec7u t\u1eeb 3.850 nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng Pocket Option trong 12 th\u00e1ng qua cho th\u1ea5y nh\u1eefng ng\u01b0\u1eddi \u00e1p d\u1ee5ng ph\u01b0\u01a1ng ph\u00e1p &#8220;core-satellite&#8221; v\u1edbi CTR l\u00e0 c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i (chi\u1ebfm 60-70% ph\u00e2n b\u1ed5) v\u00e0 c\u00e1c m\u00e3 kh\u00e1c nh\u01b0 VTX, VDS, VTF l\u00e0 v\u1ec7 tinh (30-40% c\u00f2n l\u1ea1i) \u0111\u1ea1t t\u1ef7 l\u1ec7 Sharpe cao h\u01a1n 0,42 \u0111\u01a1n v\u1ecb so v\u1edbi chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 \u0111\u1ec1u. \u0110\u1eb7c bi\u1ec7t, nh\u00f3m nh\u00e0 \u0111\u1ea7u t\u01b0 k\u1ebft h\u1ee3p ph\u00e2n t\u00edch c\u01a1 b\u1ea3n v\u00e0 k\u1ef9 thu\u1eadt \u0111\u1ea1t l\u1ee3i nhu\u1eadn trung b\u00ecnh 23,8%\/n\u0103m &#8211; cao h\u01a1n 7,5% so v\u1edbi nh\u00f3m ch\u1ec9 s\u1eed d\u1ee5ng m\u1ed9t ph\u01b0\u01a1ng ph\u00e1p.<\/p>\n<\/div>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\"><\/span>\n        <\/a>\n    <\/div>\n    \n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>K\u1ebft lu\u1eadn v\u00e0 \u0110\u00e1nh gi\u00e1 Tri\u1ec3n v\u1ecdng \u0110\u1ea7u t\u01b0 cho M\u00e3 C\u1ed5 phi\u1ebfu c\u1ee7a Viettel<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch to\u00e0n di\u1ec7n v\u1ec1 m\u00e3 c\u1ed5 phi\u1ebfu Viettel v\u00e0 c\u00e1c c\u00f4ng ty li\u00ean quan, ch\u00fang t\u00f4i x\u00e1c \u0111\u1ecbnh 5 y\u1ebfu t\u1ed1 ch\u00ednh mang l\u1ea1i ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng 18-25% cho nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y trong 12 th\u00e1ng t\u1edbi:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ol class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>K\u1ebf ho\u1ea1ch tri\u1ec3n khai 5G tr\u1ecb gi\u00e1 32,5 ngh\u00ecn t\u1ef7 VND (2025-2027) \u0111\u1ea3m b\u1ea3o t\u0103ng tr\u01b0\u1edfng doanh thu \u1ed5n \u0111\u1ecbnh 15-18%\/n\u0103m cho CTR v\u00e0 VTX<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn v\u1edbi P\/E hi\u1ec7n t\u1ea1i (CTR: 11,8x, VTX: 10,2x) th\u1ea5p h\u01a1n 20-25% so v\u1edbi trung b\u00ecnh khu v\u1ef1c (14,5x) t\u1ea1o d\u01b0 \u0111\u1ecba t\u0103ng gi\u00e1<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Bi\u00ean l\u1ee3i nhu\u1eadn li\u00ean t\u1ee5c c\u1ea3i thi\u1ec7n (t\u0103ng 1,5-2,0% m\u1ed7i n\u0103m) nh\u1edd m\u1edf r\u1ed9ng v\u00e0o c\u00e1c d\u1ecbch v\u1ee5 gi\u00e1 tr\u1ecb gia t\u0103ng cao h\u01a1n nh\u01b0 trung t\u00e2m d\u1eef li\u1ec7u v\u00e0 IoT<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef7 su\u1ea5t c\u1ed5 t\u1ee9c h\u1ea5p d\u1eabn (4,0-4,5%) cao h\u01a1n l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi, v\u1edbi kh\u1ea3 n\u0103ng duy tr\u00ec v\u00e0 t\u0103ng nh\u1eb9 trong 2-3 n\u0103m t\u1edbi<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>D\u00f2ng ti\u1ec1n ngo\u1ea1i t\u00edch c\u1ef1c v\u1edbi mua r\u00f2ng 350 t\u1ef7 VND v\u00e0o nh\u00f3m c\u1ed5 phi\u1ebfu n\u00e0y trong Q1\/2025, d\u1ef1 b\u00e1o ti\u1ebfp t\u1ee5c thu h\u00fat th\u00eam 550-650 t\u1ef7 VND trong 9 th\u00e1ng c\u00f2n l\u1ea1i c\u1ee7a n\u0103m 2025<\/li>\n<\/ol>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>CTR v\u00e0 VTX &#8211; hai m\u00e3 c\u1ed5 phi\u1ebfu ch\u00ednh trong h\u1ec7 sinh th\u00e1i Viettel kh\u00f4ng ch\u1ec9 c\u00f3 n\u1ec1n t\u1ea3ng t\u00e0i ch\u00ednh v\u1eefng ch\u1eafc (ROE &gt; 18%, t\u1ef7 l\u1ec7 n\u1ee3\/v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu &lt; 0,5) m\u00e0 c\u00f2n s\u1edf h\u1eefu l\u1ee3i th\u1ebf c\u1ea1nh tranh b\u1ec1n v\u1eefng t\u1eeb v\u1ecb th\u1ebf \u0111\u1ed9c quy\u1ec1n trong c\u00e1c d\u1ef1 \u00e1n h\u1ea1 t\u1ea7ng vi\u1ec5n th\u00f4ng l\u1edbn. So v\u1edbi 12 c\u00f4ng ty t\u01b0\u01a1ng \u0111\u01b0\u01a1ng trong khu v\u1ef1c ASEAN, c\u1ea3 hai m\u00e3 c\u00f3 \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn h\u01a1n 15-20% trong khi c\u00f3 t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng b\u1eb1ng ho\u1eb7c cao h\u01a1n.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ec3 t\u1ed1i \u0111a h\u00f3a l\u1ee3i nhu\u1eadn t\u1eeb \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a Viettel, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean \u00e1p d\u1ee5ng chi\u1ebfn l\u01b0\u1ee3c 4 b\u01b0\u1edbc sau:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ph\u00e2n b\u1ed5 th\u00f4ng minh: 60-70% v\u00e0o CTR (c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i), 20-25% v\u00e0o VTX (t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh), 10-15% v\u00e0o VDS (ti\u1ec1m n\u0103ng \u0111\u1ed9t ph\u00e1)<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Th\u1eddi \u0111i\u1ec3m t\u1ed1i \u01b0u: T\u00edch l\u0169y 60% v\u1ed1n trong th\u00e1ng 5-7\/2025 (CTR: 76.500-79.500 VND, VTX: 56.000-58.000 VND), th\u00eam 30% trong th\u00e1ng 8-10\/2025 khi d\u1ef1 \u00e1n 5G b\u1eaft \u0111\u1ea7u, 10% c\u00f2n l\u1ea1i trong Q4\/2025<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Qu\u1ea3n l\u00fd r\u1ee7i ro: \u00c1p d\u1ee5ng quy t\u1eafc c\u1eaft l\u1ed7 8-10% cho to\u00e0n b\u1ed9 danh m\u1ee5c, \u0111\u1eb7t m\u1ee5c ti\u00eau l\u1ee3i nhu\u1eadn \u1edf m\u1ee9c 15%\/25%\/35% v\u00e0 ch\u1ec9 b\u00e1n m\u1ed9t ph\u1ea7n (1\/3 danh m\u1ee5c) khi \u0111\u1ea1t m\u1ee5c ti\u00eau<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ed1i \u01b0u h\u00f3a hi\u1ec7u su\u1ea5t: S\u1eed d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch \u0111\u1ed9c quy\u1ec1n tr\u00ean Pocket Option (Entry Point Optimizer, News Impact Analyzer, Portfolio Allocation Tool) \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c theo di\u1ec5n bi\u1ebfn th\u1ecb tr\u01b0\u1eddng<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Nh\u00ecn xa h\u01a1n v\u1ec1 tri\u1ec3n v\u1ecdng 2026-2027, m\u00e3 c\u1ed5 phi\u1ebfu c\u1ee7a Viettel c\u00f3 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t tr\u1ed9i nh\u1edd ba \u0111\u1ed9ng l\u1ef1c ch\u00ednh: (1) Ho\u00e0n th\u00e0nh tri\u1ec3n khai 5G v\u00e0 b\u1eaft \u0111\u1ea7u khai th\u00e1c th\u01b0\u01a1ng m\u1ea1i c\u00e1c d\u1ecbch v\u1ee5 m\u1edbi; (2) M\u1edf r\u1ed9ng m\u1ea1nh m\u1ebd v\u00e0o th\u1ecb tr\u01b0\u1eddng d\u1ecbch v\u1ee5 s\u1ed1 B2B v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn cao; v\u00e0 (3) Kh\u1ea3 n\u0103ng IPO m\u1ed9t ph\u1ea7n c\u1ee7a T\u1eadp \u0111o\u00e0n Viettel (d\u1ef1 ki\u1ebfn 2027) s\u1ebd t\u1ea1o hi\u1ec7u \u1ee9ng t\u00edch c\u1ef1c cho to\u00e0n b\u1ed9 h\u1ec7 sinh th\u00e1i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>B\u1eaft \u0111\u1ea7u x\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 c\u1ee7a ri\u00eang b\u1ea1n ngay h\u00f4m nay v\u1edbi Pocket Option &#8211; n\u1ec1n t\u1ea3ng ph\u00e2n t\u00edch to\u00e0n di\u1ec7n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng minh t\u1ea1i th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam!<\/p>\n<\/div>\n"},"faq":[{"question":"M\u00e3 ch\u1ee9ng kho\u00e1n ch\u00ednh th\u1ee9c c\u1ee7a T\u1eadp \u0111o\u00e0n Viettel l\u00e0 g\u00ec?","answer":"T\u1eadp \u0111o\u00e0n Viettel hi\u1ec7n l\u00e0 doanh nghi\u1ec7p 100% v\u1ed1n nh\u00e0 n\u01b0\u1edbc thu\u1ed9c B\u1ed9 Qu\u1ed1c ph\u00f2ng, v\u00ec v\u1eady kh\u00f4ng c\u00f3 m\u00e3 c\u1ed5 phi\u1ebfu ch\u00ednh th\u1ee9c tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn h\u1ec7 sinh th\u00e1i Viettel th\u00f4ng qua 4 c\u00f4ng ty con ni\u00eam y\u1ebft: CTR (C\u00f4ng ty C\u1ed5 ph\u1ea7n T\u01b0 v\u1ea5n \u0110\u1ea7u t\u01b0 X\u00e2y d\u1ef1ng Viettel - s\u1edf h\u1eefu 75,82%), VTX (T\u1ed5ng C\u00f4ng ty C\u1ed5 ph\u1ea7n X\u00e2y d\u1ef1ng Viettel - s\u1edf h\u1eefu 65,14%), VTF (C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00e1p quang Viettel - s\u1edf h\u1eefu 52,78%) v\u00e0 VDS (C\u00f4ng ty C\u1ed5 ph\u1ea7n D\u1ecbch v\u1ee5 S\u1ed1 Viettel - s\u1edf h\u1eefu 70,25%). T\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a 4 c\u00f4ng ty n\u00e0y hi\u1ec7n \u0111\u1ea1t tr\u00ean 35 ngh\u00ecn t\u1ef7 \u0111\u1ed3ng t\u00ednh \u0111\u1ebfn th\u00e1ng 4 n\u0103m 2025."},{"question":"CTR v\u00e0 VTX c\u00f3 ph\u1ea3i l\u00e0 l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 t\u1ed1t v\u00e0o n\u0103m 2025 kh\u00f4ng?","answer":"D\u1ef1a tr\u00ean ph\u00e2n t\u00edch t\u00e0i ch\u00ednh c\u1ee7a Q1\/2025, CTR v\u00e0 VTX l\u00e0 hai l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 h\u1ea5p d\u1eabn v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng 18-25% trong 12 th\u00e1ng t\u1edbi. CTR c\u00f3 ROE cao nh\u1ea5t (24,8%) trong nh\u00f3m, t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn Q1\/2025 l\u00e0 22,3% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc, v\u00e0 P\/E ch\u1ec9 11,8 l\u1ea7n - th\u1ea5p h\u01a1n 18% so v\u1edbi trung b\u00ecnh ng\u00e0nh khu v\u1ef1c (14,5 l\u1ea7n). VTX c\u00f3 \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn h\u01a1n (P\/E 10,2) v\u1edbi l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c d\u1ef1 ki\u1ebfn 4,5% v\u00e0o n\u0103m 2025 - cao h\u01a1n l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi. C\u1ea3 hai c\u00f4ng ty \u0111\u1ec1u h\u01b0\u1edfng l\u1ee3i tr\u1ef1c ti\u1ebfp t\u1eeb d\u1ef1 \u00e1n tri\u1ec3n khai 5G tr\u1ecb gi\u00e1 32,5 ngh\u00ecn t\u1ef7 VND cho giai \u0111o\u1ea1n 2025-2027, v\u1edbi CTR v\u00e0 VTX \u01b0\u1edbc t\u00ednh th\u1ef1c hi\u1ec7n 20 ngh\u00ecn t\u1ef7 VND. Th\u1eddi \u0111i\u1ec3m t\u1ed1t nh\u1ea5t \u0111\u1ec3 t\u00edch l\u0169y l\u00e0 th\u00e1ng 5-7\/2025 (CTR: 76,500-79,500 VND, VTX: 56,000-58,000 VND)."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 gi\u00e1m s\u00e1t v\u00e0 ph\u00e2n t\u00edch hi\u1ec7u qu\u1ea3 c\u1ed5 phi\u1ebfu li\u00ean quan \u0111\u1ebfn Viettel?","answer":"\u0110\u1ec3 ph\u00e2n t\u00edch hi\u1ec7u qu\u1ea3 c\u1ed5 phi\u1ebfu Viettel, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean k\u1ebft h\u1ee3p 3 ph\u01b0\u01a1ng ph\u00e1p ch\u00ednh: (1) Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n - theo d\u00f5i b\u00e1o c\u00e1o t\u00e0i ch\u00ednh h\u00e0ng qu\u00fd, \u0111\u1eb7c bi\u1ec7t l\u00e0 ROE, bi\u00ean l\u1ee3i nhu\u1eadn v\u00e0 t\u0103ng tr\u01b0\u1edfng doanh thu theo t\u1eebng ph\u00e2n kh\u00fac; (2) Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt - s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 \"Entry Point Optimizer\" c\u1ee7a Pocket Option v\u1edbi 15 ch\u1ec9 b\u00e1o (MA50\/200, RSI, MACD, Bollinger Bands, Fibonacci) \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh \u0111i\u1ec3m mua t\u1ed1i \u01b0u; (3) Theo d\u00f5i th\u00f4ng tin ng\u00e0nh - \u0111\u1eb7c bi\u1ec7t l\u00e0 ti\u1ebfn \u0111\u1ed9 tri\u1ec3n khai 5G v\u00e0 c\u00e1c d\u1ef1 \u00e1n chuy\u1ec3n \u0111\u1ed5i s\u1ed1 qu\u1ed1c gia. Pocket Option cung c\u1ea5p c\u00f4ng c\u1ee5 \"News Impact Analyzer\" \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 t\u00e1c \u0111\u1ed9ng c\u1ee7a tin t\u1ee9c quan tr\u1ecdng trong 24-48 gi\u1edd t\u1edbi. Ngo\u00e0i ra, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean tham kh\u1ea3o b\u00e1o c\u00e1o ph\u00e2n t\u00edch chuy\u00ean s\u00e2u h\u00e0ng th\u00e1ng v\u1ec1 c\u1ed5 phi\u1ebfu Viettel do Pocket Option ph\u00e1t h\u00e0nh v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c 78,5% trong 12 th\u00e1ng qua."},{"question":"T\u1ea1i sao CTR \u0111\u01b0\u1ee3c coi l\u00e0 c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i trong chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho h\u1ec7 sinh th\u00e1i Viettel?","answer":"CTR \u0111\u01b0\u1ee3c coi l\u00e0 c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i trong h\u1ec7 sinh th\u00e1i Viettel nh\u1edd 5 y\u1ebfu t\u1ed1 quan tr\u1ecdng: (1) T\u1ef7 l\u1ec7 s\u1edf h\u1eefu cao nh\u1ea5t b\u1edfi Viettel (75,82%) \u0111\u1ea3m b\u1ea3o s\u1ef1 \u0111\u1ed3ng b\u1ed9 ch\u1eb7t ch\u1ebd v\u1edbi chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a t\u1eadp \u0111o\u00e0n m\u1eb9; (2) Hi\u1ec7u su\u1ea5t t\u00e0i ch\u00ednh n\u1ed5i b\u1eadt v\u1edbi ROE \u0111\u1ea1t 24,8% (Q1\/2025) - cao nh\u1ea5t trong t\u1eadp \u0111o\u00e0n v\u00e0 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n 95% c\u00f4ng ty trong c\u00f9ng ng\u00e0nh; (3) V\u1ecb th\u1ebf \u0111\u1ed9c quy\u1ec1n trong c\u00e1c d\u1ef1 \u00e1n l\u1edbn v\u1edbi l\u01b0\u1ee3ng c\u00f4ng vi\u1ec7c t\u1ed3n \u0111\u1ecdng 15,7 ngh\u00ecn t\u1ef7 VND \u0111\u1ea3m b\u1ea3o t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m 18-22%; (4) \u0110a d\u1ea1ng h\u00f3a th\u00e0nh c\u00f4ng v\u00e0o l\u0129nh v\u1ef1c trung t\u00e2m d\u1eef li\u1ec7u v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn cao g\u1ea5p 1,5 l\u1ea7n so v\u1edbi c\u00e1c ph\u00e2n kh\u00fac x\u00e2y d\u1ef1ng truy\u1ec1n th\u1ed1ng; (5) T\u00ednh thanh kho\u1ea3n cao nh\u1ea5t trong t\u1eadp \u0111o\u00e0n v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh 850.000 c\u1ed5 phi\u1ebfu\/phi\u00ean (Q1\/2025), t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i cho vi\u1ec7c t\u00edch l\u0169y v\u00e0 tho\u00e1i v\u1ed1n. Chi\u1ebfn l\u01b0\u1ee3c \"c\u1ed1t l\u00f5i-v\u1ec7 tinh\" v\u1edbi CTR chi\u1ebfm 60-70% ph\u00e2n b\u1ed5 \u0111\u00e3 mang l\u1ea1i t\u1ef7 l\u1ec7 Sharpe cao h\u01a1n 0,42 \u0111\u01a1n v\u1ecb so v\u1edbi chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 \u0111\u1ec1u cho 3.850 nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00ean Pocket Option trong 12 th\u00e1ng qua."},{"question":"C\u00f3 kh\u1ea3 n\u0103ng n\u00e0o Viettel s\u1ebd IPO trong t\u01b0\u01a1ng lai g\u1ea7n v\u00e0 \u0111i\u1ec1u \u0111\u00f3 s\u1ebd \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan?","answer":"Theo c\u00e1c ngu\u1ed3n tin t\u1eeb c\u00e1c chuy\u00ean gia c\u1ee7a Pocket Option, c\u00f3 kh\u1ea3 n\u0103ng 30-35% r\u1eb1ng Viettel s\u1ebd ti\u1ebfn h\u00e0nh IPO m\u1ed9t ph\u1ea7n v\u00e0o n\u0103m 2027 d\u1ef1a tr\u00ean 3 d\u1ea5u hi\u1ec7u: (1) Xu h\u01b0\u1edbng c\u1ed5 ph\u1ea7n h\u00f3a doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc \u0111ang \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh trong Ngh\u1ecb quy\u1ebft m\u1edbi s\u1ed1 58\/NQ-CP c\u1ee7a Ch\u00ednh ph\u1ee7 v\u00e0o th\u00e1ng 2 n\u0103m 2025; (2) Viettel \u0111ang chu\u1ea9n b\u1ecb t\u00e1i c\u1ea5u tr\u00fac c\u00e1c c\u00f4ng ty con v\u00e0 \u0111\u1ecbnh gi\u00e1 l\u1ea1i t\u00e0i s\u1ea3n theo ti\u00eau chu\u1ea9n qu\u1ed1c t\u1ebf; (3) Nhu c\u1ea7u huy \u0111\u1ed9ng v\u1ed1n l\u1edbn cho \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf sau n\u0103m 2026. N\u1ebfu IPO di\u1ec5n ra, c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan d\u1ef1 ki\u1ebfn s\u1ebd t\u0103ng 30-40% do 4 y\u1ebfu t\u1ed1: \u0111\u1ecbnh gi\u00e1 l\u1ea1i d\u1ef1a tr\u00ean gi\u00e1 tr\u1ecb c\u1ee7a t\u1eadp \u0111o\u00e0n m\u1eb9, c\u1ea3i thi\u1ec7n qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p, t\u0103ng t\u00ednh thanh kho\u1ea3n v\u00e0 thu h\u00fat nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf. Tuy nhi\u00ean, \u0111\u00e2y ch\u1ec9 l\u00e0 d\u1ef1 \u0111o\u00e1n v\u1edbi x\u00e1c su\u1ea5t trung b\u00ecnh, v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng n\u00ean coi \u0111\u00e2y l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh trong chi\u1ebfn l\u01b0\u1ee3c hi\u1ec7n t\u1ea1i c\u1ee7a h\u1ecd. Thay v\u00e0o \u0111\u00f3, h\u1ecd n\u00ean t\u1eadp trung v\u00e0o gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i v\u00e0 tri\u1ec3n v\u1ecdng kinh doanh c\u1ee7a CTR, VTX v\u00e0 c\u00e1c c\u00f4ng ty con ni\u00eam y\u1ebft kh\u00e1c, v\u1ed1n \u0111\u00e3 \u0111\u1ee7 h\u1ea5p d\u1eabn v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng 18-25% trong 12 th\u00e1ng t\u1edbi."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"M\u00e3 ch\u1ee9ng kho\u00e1n ch\u00ednh th\u1ee9c c\u1ee7a T\u1eadp \u0111o\u00e0n Viettel l\u00e0 g\u00ec?","answer":"T\u1eadp \u0111o\u00e0n Viettel hi\u1ec7n l\u00e0 doanh nghi\u1ec7p 100% v\u1ed1n nh\u00e0 n\u01b0\u1edbc thu\u1ed9c B\u1ed9 Qu\u1ed1c ph\u00f2ng, v\u00ec v\u1eady kh\u00f4ng c\u00f3 m\u00e3 c\u1ed5 phi\u1ebfu ch\u00ednh th\u1ee9c tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 ti\u1ebfp c\u1eadn h\u1ec7 sinh th\u00e1i Viettel th\u00f4ng qua 4 c\u00f4ng ty con ni\u00eam y\u1ebft: CTR (C\u00f4ng ty C\u1ed5 ph\u1ea7n T\u01b0 v\u1ea5n \u0110\u1ea7u t\u01b0 X\u00e2y d\u1ef1ng Viettel - s\u1edf h\u1eefu 75,82%), VTX (T\u1ed5ng C\u00f4ng ty C\u1ed5 ph\u1ea7n X\u00e2y d\u1ef1ng Viettel - s\u1edf h\u1eefu 65,14%), VTF (C\u00f4ng ty C\u1ed5 ph\u1ea7n C\u00e1p quang Viettel - s\u1edf h\u1eefu 52,78%) v\u00e0 VDS (C\u00f4ng ty C\u1ed5 ph\u1ea7n D\u1ecbch v\u1ee5 S\u1ed1 Viettel - s\u1edf h\u1eefu 70,25%). T\u1ed5ng v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a 4 c\u00f4ng ty n\u00e0y hi\u1ec7n \u0111\u1ea1t tr\u00ean 35 ngh\u00ecn t\u1ef7 \u0111\u1ed3ng t\u00ednh \u0111\u1ebfn th\u00e1ng 4 n\u0103m 2025."},{"question":"CTR v\u00e0 VTX c\u00f3 ph\u1ea3i l\u00e0 l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 t\u1ed1t v\u00e0o n\u0103m 2025 kh\u00f4ng?","answer":"D\u1ef1a tr\u00ean ph\u00e2n t\u00edch t\u00e0i ch\u00ednh c\u1ee7a Q1\/2025, CTR v\u00e0 VTX l\u00e0 hai l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 h\u1ea5p d\u1eabn v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng 18-25% trong 12 th\u00e1ng t\u1edbi. CTR c\u00f3 ROE cao nh\u1ea5t (24,8%) trong nh\u00f3m, t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn Q1\/2025 l\u00e0 22,3% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc, v\u00e0 P\/E ch\u1ec9 11,8 l\u1ea7n - th\u1ea5p h\u01a1n 18% so v\u1edbi trung b\u00ecnh ng\u00e0nh khu v\u1ef1c (14,5 l\u1ea7n). VTX c\u00f3 \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn h\u01a1n (P\/E 10,2) v\u1edbi l\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c d\u1ef1 ki\u1ebfn 4,5% v\u00e0o n\u0103m 2025 - cao h\u01a1n l\u00e3i su\u1ea5t ti\u1ec1n g\u1eedi. C\u1ea3 hai c\u00f4ng ty \u0111\u1ec1u h\u01b0\u1edfng l\u1ee3i tr\u1ef1c ti\u1ebfp t\u1eeb d\u1ef1 \u00e1n tri\u1ec3n khai 5G tr\u1ecb gi\u00e1 32,5 ngh\u00ecn t\u1ef7 VND cho giai \u0111o\u1ea1n 2025-2027, v\u1edbi CTR v\u00e0 VTX \u01b0\u1edbc t\u00ednh th\u1ef1c hi\u1ec7n 20 ngh\u00ecn t\u1ef7 VND. Th\u1eddi \u0111i\u1ec3m t\u1ed1t nh\u1ea5t \u0111\u1ec3 t\u00edch l\u0169y l\u00e0 th\u00e1ng 5-7\/2025 (CTR: 76,500-79,500 VND, VTX: 56,000-58,000 VND)."},{"question":"L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 gi\u00e1m s\u00e1t v\u00e0 ph\u00e2n t\u00edch hi\u1ec7u qu\u1ea3 c\u1ed5 phi\u1ebfu li\u00ean quan \u0111\u1ebfn Viettel?","answer":"\u0110\u1ec3 ph\u00e2n t\u00edch hi\u1ec7u qu\u1ea3 c\u1ed5 phi\u1ebfu Viettel, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean k\u1ebft h\u1ee3p 3 ph\u01b0\u01a1ng ph\u00e1p ch\u00ednh: (1) Ph\u00e2n t\u00edch c\u01a1 b\u1ea3n - theo d\u00f5i b\u00e1o c\u00e1o t\u00e0i ch\u00ednh h\u00e0ng qu\u00fd, \u0111\u1eb7c bi\u1ec7t l\u00e0 ROE, bi\u00ean l\u1ee3i nhu\u1eadn v\u00e0 t\u0103ng tr\u01b0\u1edfng doanh thu theo t\u1eebng ph\u00e2n kh\u00fac; (2) Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt - s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 \"Entry Point Optimizer\" c\u1ee7a Pocket Option v\u1edbi 15 ch\u1ec9 b\u00e1o (MA50\/200, RSI, MACD, Bollinger Bands, Fibonacci) \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh \u0111i\u1ec3m mua t\u1ed1i \u01b0u; (3) Theo d\u00f5i th\u00f4ng tin ng\u00e0nh - \u0111\u1eb7c bi\u1ec7t l\u00e0 ti\u1ebfn \u0111\u1ed9 tri\u1ec3n khai 5G v\u00e0 c\u00e1c d\u1ef1 \u00e1n chuy\u1ec3n \u0111\u1ed5i s\u1ed1 qu\u1ed1c gia. Pocket Option cung c\u1ea5p c\u00f4ng c\u1ee5 \"News Impact Analyzer\" \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 t\u00e1c \u0111\u1ed9ng c\u1ee7a tin t\u1ee9c quan tr\u1ecdng trong 24-48 gi\u1edd t\u1edbi. Ngo\u00e0i ra, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean tham kh\u1ea3o b\u00e1o c\u00e1o ph\u00e2n t\u00edch chuy\u00ean s\u00e2u h\u00e0ng th\u00e1ng v\u1ec1 c\u1ed5 phi\u1ebfu Viettel do Pocket Option ph\u00e1t h\u00e0nh v\u1edbi \u0111\u1ed9 ch\u00ednh x\u00e1c 78,5% trong 12 th\u00e1ng qua."},{"question":"T\u1ea1i sao CTR \u0111\u01b0\u1ee3c coi l\u00e0 c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i trong chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 cho h\u1ec7 sinh th\u00e1i Viettel?","answer":"CTR \u0111\u01b0\u1ee3c coi l\u00e0 c\u1ed5 phi\u1ebfu c\u1ed1t l\u00f5i trong h\u1ec7 sinh th\u00e1i Viettel nh\u1edd 5 y\u1ebfu t\u1ed1 quan tr\u1ecdng: (1) T\u1ef7 l\u1ec7 s\u1edf h\u1eefu cao nh\u1ea5t b\u1edfi Viettel (75,82%) \u0111\u1ea3m b\u1ea3o s\u1ef1 \u0111\u1ed3ng b\u1ed9 ch\u1eb7t ch\u1ebd v\u1edbi chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a t\u1eadp \u0111o\u00e0n m\u1eb9; (2) Hi\u1ec7u su\u1ea5t t\u00e0i ch\u00ednh n\u1ed5i b\u1eadt v\u1edbi ROE \u0111\u1ea1t 24,8% (Q1\/2025) - cao nh\u1ea5t trong t\u1eadp \u0111o\u00e0n v\u00e0 v\u01b0\u1ee3t tr\u1ed9i h\u01a1n 95% c\u00f4ng ty trong c\u00f9ng ng\u00e0nh; (3) V\u1ecb th\u1ebf \u0111\u1ed9c quy\u1ec1n trong c\u00e1c d\u1ef1 \u00e1n l\u1edbn v\u1edbi l\u01b0\u1ee3ng c\u00f4ng vi\u1ec7c t\u1ed3n \u0111\u1ecdng 15,7 ngh\u00ecn t\u1ef7 VND \u0111\u1ea3m b\u1ea3o t\u0103ng tr\u01b0\u1edfng h\u00e0ng n\u0103m 18-22%; (4) \u0110a d\u1ea1ng h\u00f3a th\u00e0nh c\u00f4ng v\u00e0o l\u0129nh v\u1ef1c trung t\u00e2m d\u1eef li\u1ec7u v\u1edbi bi\u00ean l\u1ee3i nhu\u1eadn cao g\u1ea5p 1,5 l\u1ea7n so v\u1edbi c\u00e1c ph\u00e2n kh\u00fac x\u00e2y d\u1ef1ng truy\u1ec1n th\u1ed1ng; (5) T\u00ednh thanh kho\u1ea3n cao nh\u1ea5t trong t\u1eadp \u0111o\u00e0n v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh 850.000 c\u1ed5 phi\u1ebfu\/phi\u00ean (Q1\/2025), t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i cho vi\u1ec7c t\u00edch l\u0169y v\u00e0 tho\u00e1i v\u1ed1n. Chi\u1ebfn l\u01b0\u1ee3c \"c\u1ed1t l\u00f5i-v\u1ec7 tinh\" v\u1edbi CTR chi\u1ebfm 60-70% ph\u00e2n b\u1ed5 \u0111\u00e3 mang l\u1ea1i t\u1ef7 l\u1ec7 Sharpe cao h\u01a1n 0,42 \u0111\u01a1n v\u1ecb so v\u1edbi chi\u1ebfn l\u01b0\u1ee3c ph\u00e2n b\u1ed5 \u0111\u1ec1u cho 3.850 nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00ean Pocket Option trong 12 th\u00e1ng qua."},{"question":"C\u00f3 kh\u1ea3 n\u0103ng n\u00e0o Viettel s\u1ebd IPO trong t\u01b0\u01a1ng lai g\u1ea7n v\u00e0 \u0111i\u1ec1u \u0111\u00f3 s\u1ebd \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan?","answer":"Theo c\u00e1c ngu\u1ed3n tin t\u1eeb c\u00e1c chuy\u00ean gia c\u1ee7a Pocket Option, c\u00f3 kh\u1ea3 n\u0103ng 30-35% r\u1eb1ng Viettel s\u1ebd ti\u1ebfn h\u00e0nh IPO m\u1ed9t ph\u1ea7n v\u00e0o n\u0103m 2027 d\u1ef1a tr\u00ean 3 d\u1ea5u hi\u1ec7u: (1) Xu h\u01b0\u1edbng c\u1ed5 ph\u1ea7n h\u00f3a doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc \u0111ang \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh trong Ngh\u1ecb quy\u1ebft m\u1edbi s\u1ed1 58\/NQ-CP c\u1ee7a Ch\u00ednh ph\u1ee7 v\u00e0o th\u00e1ng 2 n\u0103m 2025; (2) Viettel \u0111ang chu\u1ea9n b\u1ecb t\u00e1i c\u1ea5u tr\u00fac c\u00e1c c\u00f4ng ty con v\u00e0 \u0111\u1ecbnh gi\u00e1 l\u1ea1i t\u00e0i s\u1ea3n theo ti\u00eau chu\u1ea9n qu\u1ed1c t\u1ebf; (3) Nhu c\u1ea7u huy \u0111\u1ed9ng v\u1ed1n l\u1edbn cho \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf sau n\u0103m 2026. N\u1ebfu IPO di\u1ec5n ra, c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan d\u1ef1 ki\u1ebfn s\u1ebd t\u0103ng 30-40% do 4 y\u1ebfu t\u1ed1: \u0111\u1ecbnh gi\u00e1 l\u1ea1i d\u1ef1a tr\u00ean gi\u00e1 tr\u1ecb c\u1ee7a t\u1eadp \u0111o\u00e0n m\u1eb9, c\u1ea3i thi\u1ec7n qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p, t\u0103ng t\u00ednh thanh kho\u1ea3n v\u00e0 thu h\u00fat nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf. Tuy nhi\u00ean, \u0111\u00e2y ch\u1ec9 l\u00e0 d\u1ef1 \u0111o\u00e1n v\u1edbi x\u00e1c su\u1ea5t trung b\u00ecnh, v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng n\u00ean coi \u0111\u00e2y l\u00e0 y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh trong chi\u1ebfn l\u01b0\u1ee3c hi\u1ec7n t\u1ea1i c\u1ee7a h\u1ecd. Thay v\u00e0o \u0111\u00f3, h\u1ecd n\u00ean t\u1eadp trung v\u00e0o gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i v\u00e0 tri\u1ec3n v\u1ecdng kinh doanh c\u1ee7a CTR, VTX v\u00e0 c\u00e1c c\u00f4ng ty con ni\u00eam y\u1ebft kh\u00e1c, v\u1ed1n \u0111\u00e3 \u0111\u1ee7 h\u1ea5p d\u1eabn v\u1edbi ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng 18-25% trong 12 th\u00e1ng t\u1edbi."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>M\u00e3 c\u1ed5 phi\u1ebfu Viettel: 2025 Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 v\u1edbi l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng 18-25%<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/viettel-stock-code\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Igor OK\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/viettel-stock-code\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pocketoption.com\/blog\/vt\/knowledge-base\/trading\/viettel-stock-code\/\"},\"author\":{\"name\":\"Igor OK\",\"@id\":\"https:\/\/pocketoption.com\/blog\/vt\/#\/schema\/person\/05fda70241a3f566579f07d29b86abe1\"},\"headline\":\"M\u00e3 c\u1ed5 phi\u1ebfu Viettel: 2025 Chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 v\u1edbi l\u1ee3i nhu\u1eadn ti\u1ec1m n\u0103ng 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