With Apple (AAPL) expected to debut a new iPhone and maybe a Siri voice-enabled Apple TV next Wednesday, key chip-supplier stocks could win or lose — though with the market in correction, most stocks are under pressure. Avago Technologies (AVGO) and Ambarella (AMBA) are two chip stocks highly rated by IBD. Power amplifier technology from Avago and Skyworks Solutions (SWKS) turned up in the iPhone 6 generation, along with gear from NXP
GoPro (GPRO) stock wiped out Wednesday after the company’s supplier of image-processing chips signaled weaker demand ahead for action cameras. GoPro, the top maker of action cameras, saw its shares skid 5.6% to 41.25 on the stock market today. GoPro stock is down 14.4% this week. Late Tuesday, Ambarella (AMBA), maker of video compression and image processing chips for GoPro and others, guided fiscal third-quarter revenue below Wall Street’s
Ambarella (AMBA) stock gapped down by double digits Wednesday after the GoPro (GPRO) sports camera chipmaker a day earlier guided its fiscal Q3 revenue below Wall Street’s forecast. The consensus of 13 analysts polled by Thomson Reuters modeled $92.3 million for Q3 revenue. Ambarella sees $91.5 million at the midpoint of its guidance range, which would still be up 39%. After Ambarella’s Q2 earnings conference call with analysts late Tuesday, the