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This Unstoppable Growth Stock Could Head Higher After 120% Gains

·3-min read
This Unstoppable Growth Stock Could Head Higher After 120% Gains
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  • AMBA

Ambarella (NASDAQ: AMBA) stock has become unstoppable in the past year thanks to terrific demand for the company's chips that power cameras in the security and automotive markets. Ambarella's stock price has shot up more than 120% in just a year, crushing the broader market's gains, and it won't be surprising to see its hot rally get another shot in the arm when it releases its fiscal 2022 Q3 earnings report after the market closes on Tuesday, Nov. 30. According to Ambarella's guidance issued on Aug. 31 along with its Q2 results, the company is on track to deliver Q3 revenue of $90 million and a non-GAAP gross margin of 62% at the midpoint of its range.

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