Ambarella guided down FQ1 numbers due to ongoing weakness at a key customer.
The chip supplier continues to participate in growth in new camera markets.
The stock is likely to retest recent lows providing the ultimate buying opportunity prior to a rebound in the sports camera market.
As with most speculative stocks this year, Ambarella (NASDAQ:AMBA) traded to new lows in February before a big rally the last couple of weeks. The rally isn't likely to last following FQ1 guidance issued with the FQ4 earnings report.