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Why Ambarella Stock Dropped Like a Rock Today

Why Ambarella Stock Dropped Like a Rock Today

Semiconductor products from Ambarella (NASDAQ: AMBA) are used in Internet-of-Things (IoT) devices and cars, among other things. On Aug. 29, Ambarella reported financial results for its fiscal second quarter of 2024, and that's the gist of how the quarter went. Lackluster financial results and uninspiring commentary from management explain why Ambarella stock was down 19% as of noon ET.