Why Ambarella Stock Climbed 7.4% Higher Last Week
Shares of computer vision chip designer Ambarella (NASDAQ: AMBA) were up 7.4% last week, according to data from S&P Global Market Intelligence. This performance handily outpaced about a 4.5% decline for semiconductor stocks overall, as measured by the iShares Semiconductor ETF (NASDAQ: SOXX).
However, Ambarella remains more than 50% down from its all-time highs reached at the end of 2021, compared with iShares Semiconductor ETF, down just 13%. Ambarella stock has been due for a relief rally, and this past week's performance provided one.
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Source Fool.com
