Ambarella (AMBA) stock toppled late Thursday on Wall Street after the GoPro (GPRO) action-camera chipmaker guided its fiscal Q4 sales vastly below analyst expectations, with year-over-year growth that would be its smallest since the July 2011 quarter. In after-hours trading after its earnings release, and after falling 4.3% in Thursday’s regular session, Ambarella stock was down more than 3% to 57.88. For its fiscal Q3, which ended Oct. 31,
Santa’s sleigh is light on GoPro (GPRO) action cameras this year, a Pacific Crest analyst noted Monday as he slashed his price target on camera chipmaker Ambarella (AMBA), a week ahead of the company’s scheduled Q3 earnings report. In midday trading in the stock market today, Ambarella stock was down close to 4%, near 56, while GoPro stock was down 5%, near 19.40, after earlier touching a record low of 19.14. GoPro stock is down 24% since its Oct.
Apple (AAPL) chip suppliers Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qualcomm (QCOM) and InvenSense (INVN) are making early inroads into the nascent Internet of Things, whose development is forecast to yield economic impact in the trillions of dollars by 2025. But it’s early days yet — even an Ambarella (AMBA)-powered GoPro (GPRO) couldn’t fly high enough in 2015 to spot the ultimate IoT-age winner. ‘Move The Needle’ The market is forecast