8:12 am Ambarella Getting Hit on Disappointing Third Quarter Guidance
Roughly five weeks ago, shares of Ambarella (AMBA 89.61), a developer of low-power, HD video compression and image processing semiconductors, were trading just north of $129.00. On Tuesday AMBA closed just shy of $90.00. At the moment, AMBA shares are indicated to open closer to $80.00 in the wake of the company's better than expected second quarter earnings report.
The problem for the stock is twofold: (1) broader economic growth concerns have taken a heavy toll on growth/momentum stocks like Ambarella, …More