Why Ambarella Stock Crashed 17% Today
Shares of Ambarella (NASDAQ: AMBA), a maker of specialized semiconductor chips for high-definition video, collapsed in morning trading on the Nasdaq Wednesday, tumbling 16.9% through 11:30 a.m. ET despite beating fiscal Q1 2024 forecasts last night.
Analysts had forecast Ambarella would report a $0.21-per-share (adjusted) loss on sales of $62 million. As it turned out, Ambarella lost only $0.15 per share, and sales beat expectations, coming in at $62.1 million. The stock is down hugely, regardless.
But if Ambarella beat earnings, then what exactly has investors so upset this morning? A few things, actually.
Source Fool.com
Ambarella Inc. Stock
€49.66
-2.090%
With 21 Buy predictions and 4 Sell predictions Ambarella Inc. is one of the favorites of our community.
With a target price of 75 € there is a hugely positive potential of 51.03% for Ambarella Inc. compared to the current price of 49.66 €.
