Time to Buy This Beaten-Down AI Tech Stock?
This has been a brutal earnings season for investors who hold a lot of growth stocks. Markets are down, and Wall Street sentiment is shifting toward safer, more established businesses. Many of these growth stocks are issuing conservative outlooks for the fiscal year ahead, too, after several years of booming gains.
It was still jarring to see Ambarella (NASDAQ: AMBA) shares fall over 30% after the company reported solid fourth-quarter results. The company, which develops AI video processing tech in the autonomous driving and security markets, has some big markets it can target over the next few years.
That's true even though the first half of 2022 will likely show slower growth and rising earnings. But should investors be excited about the stock now that it is down over 50% so far this year?
Source Fool.com
