12:05 pm Ambarella [AMBA] falls as Q4/FY18 outlook weighs despite strong Q3
After semi name Ambarella (AMBA 54.90, -6.49) reported better than expected Q3 results, but gave a muted outlook for the coming period's sales, shares slip about 10.6% lower.
As a broader sector, semis have been riding highs in November. A strong sell-off yesterday, however, took semi names off highs as the PHLX Semi ETF (SOX 845.11, +8.32 +0.99%) fell a whopping -4.9% on Thursday. Despite the sell-off though, the SOX still boasts gains north of +20% year-to-date.
In terms of last night's print, …More