Like it or not, GoPro (NASDAQ: GPRO) and video-processing chip specialist Ambarella (NASDAQ: AMBA) are inexplicably tied to one another in the minds of many investors.
On one hand, business from GoPro formerly comprised 30% or more of Ambarella’s revenue in any given quarter. On the other hand, any weakness from GoPro meant Ambarella would feel the pinch, which is why the video-processing chip specialist has worked hard to diversify its revenue base.