Ambarella Inc. shares fell in the extended session Wednesday after GoPro Inc. cut its outlook and announced layoffs. Ambarella shares dropped 11% to $39.85. The company is a major chip supplier for GoPro’s wearable cameras. In early December, Ambarella warned of lighter-than-expected sales citing a weakness in the wearable camera market. Late Wednesday, GoPro shares dove more than 20% after the camera maker cut its fourth-quarter revenue outlook and announced it would cut 7% of its workforce.
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