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Here’s a Reason Why Ambarella (AMBA) Stock is Plunging Today

NEW YORK (TheStreet) -- Ambarella (AMBA - Get Report) could deliver weak financial results in the short-term because of falling demand for GoPro (GPRO) products, Pacific Crest analysts warned in a note released on Thursday morning.

Shares of Ambarella, a Santa Clara, CA-based camera processor maker and key GoPro supplier, are retreating 6.32% to $35.81 in early afternoon trading.

"We are lowering our estimates largely around weaker GoPro demand and persistent high inventory," analysts explained. "We estimate GoPro revenue will be down 51% in Ambarella's F2017 due to the excess channel fill that occurred last year."

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