Why Ambarella Stock Jumped 10% This Week
Shares of Ambarella (NASDAQ: AMBA) beat the market by a wide margin this week. The stock rose 10% through Thursday trading, compared to a 1.7% decline in the S&P 500. The semiconductor chip tech developer announced positive operating news early in the week.
Sales for the fiscal third quarter jumped 64% to $92 million, management revealed after the market closed on Tuesday. That result matched the top end of the guidance range that executives had issued three months earlier.
It also put the company in a great position to meet or exceed its wider goals for the full fiscal year.
Source Fool.com
