Why Ambarella Technologies Stock Popped 7% Today

Ambarella (NASDAQ: AMBA) stock soared nearly 19% Wednesday morning after reporting a strong earnings beat last night. The stock has since given back about half its gains, but as of 11:20 a.m. ET is still up 7.7%.Analysts had forecast Ambarella to earn $0.04 per share on $79 million in sales. In fact, the company reported Q3 earnings of $0.11 per share, and sales of $82.6 million. Adding to the good news, Ambarella raised guidance for Q4 sales. Once upon a time, Ambarella was known as a maker of semiconductor chips for "action cameras" (think GoPros and similar action cams). That market seems to be going nowhere, however, and Ambarella has since pivoted to portray itself as an artificial intelligence (AI) stock, specializing in "edge AI semiconductors" and adopting the "AI envisioned" tag line for its products. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool