Down 57% in 2022, This High-Growth Tech Stock Is a Terrific Buy
Share prices of Ambarella (NASDAQ: AMBA) plunged 31% following the release of the company's fiscal 2022 fourth-quarter results on Feb. 28, as its guidance fell slightly behind Wall Street's expectations.
However, a closer look at Ambarella's quarterly results and guidance indicates that investors may have overreacted. The chipmaker, whose chips power internet security cameras and automotive cameras, is growing at an eye-popping pace and seems built for long-term growth. Let's see why the massive pullback in Ambarella stock, which is down 57% so far in 2022, could present a great opportunity to snag an investment at a steep discount.
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Source Fool.com
