On July 2, Ambarella fell 8.3% in regular trading, trading at $80.94/share, with turnover of $101 million. The pullback comes amid broad weakness across the semiconductor sector, with Marvell Technology down 8.87%, Intel down 5.12%, Micron Technology down 4.8%, AMD down 4.32%, and NVIDIA down 1.8%.

Ambarella had rallied sharply in the preceding sessions, gaining over 38% from late June levels, driven by its announced long-term edge AI partnership with Hanwha valued in excess of $800 million in potential revenue over more than ten years. Bank of America had raised its price target to $96, and the stock had briefly approached that level before reversing. The current session marks the first significant retracement following the rapid advance, with sector-wide selling pressure weighing on the stock.

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