Video technology chipmaker Ambarella crushed third-quarter earnings estimates and gave bullish sales guidance late Thursday, as it benefits from a booming market for action cameras and the prospects for a huge potential market for cop cameras. The Santa Clara, Calif.-based firm, which supplies chips to action-camera maker GoPro (GPRO), reported Q3 earnings per share excluding items of 68 cents, up 84% from a year earlier. Sales
Ambarella (AMBA) late Thursday is expected to report double-digit earnings and revenue gains for its fiscal Q3 as its processing chips enable increasingly popular wearable action cameras, drones and other devices. Analysts polled by Thomson Reuters expect the Santa Clara, Calif.-based company, which provides chips to GoPro (GPRO) and other gadget companies, to report Q3 per-share earnings excluding items of 54 cents, a 46% increase from the
Apple (AAPL) stock sank Monday after retail reports indicated a lackluster start to the holiday shopping season overall. U.S. consumers spent 11% less over the four-day Black Friday weekend compared with a year earlier, according to the National Retail Federation. That put a damper on consumer electronics stocks as a group. Apple shares fell 3.3% to 115.07 on Monday. Action camera maker GoPro (GPRO) saw its shares drop 5.7% to 73.50. Outdoor and fitness device maker Garmin (GRMN) watched its stock drop 1.9% to 56.24. Consumer electronics retailer Best Buy (BBY) sagged 5.5% to 37.26. Apple stock hit a record high of 119.75 on Nov. 25 in the lead-up to Black Friday. Many big retailers used Apple iPhones, iPads and Beats headphones as promotional items to generate traffic in their stores last weekend. Some analysts remain bullish on Apple. In a report Monday, UBS analyst Steven Milunovich reiterated his buy…