Shares of Ambarella (NASDAQ: AMBA), a maker of specialized semiconductor chips for high-definition video, collapsed in morning trading on the Nasdaq Wednesday, tumbling 16.9% through 11:30 a.m. ET despite beating fiscal Q1 2024 forecasts last night.  

Analysts had forecast Ambarella would report a $0.21-per-share (adjusted) loss on sales of $62 million. As it turned out, Ambarella lost only $0.15 per share, and sales beat expectations, coming in at $62.1 million. The stock is down hugely, regardless.

But if Ambarella beat earnings, then what exactly has investors so upset this morning? A few things, actually.  

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Source Fool.com