Reason for the 9% correction looks like attributed to this mornings downgrade from Morgan Stanley from Overweight to average weight.
That and getting lumped in with the INVN lowered guidance as they didn't get new ipad orders. Apples and Oranges. AMBA is a buy here IMHO and I added shares and calls on today's oversold session. GLTA.
Sentiment: Strong Buy
Obviously, Morgan Stanley wants to get in.
They're probably in, just want a lower basis in the stock. Buying opportunity if you put a tight stop under it.