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Fly News Breaks for September 2, 2015
AMBA, GPRO
Sep 2, 2015 | 07:55 EDT
Baird notes Ambarella's (AMBA) commentary last night that it sees decreased wearable camera revenue in Q3 reflecting the build of newly released and existing products in Q2 of this year by GoPro and Xiaomi. The firm noted Ambarella's disappointing guidance and is concerned about the lighter sell-through volumes for GoPro (GPRO). Baird is reiterating its Outperform rating and $70 price target on GoPro shares, as it believes GoPro's new product introduction cadence is a timing issue and remains positive on the longer-term growth story.
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