BofA starts Ambiq Micro at Neutral with profit still years away

As previously reported, BofA initiated coverage of Ambiq Micro (AMBQ) with a Neutral rating and $42 price target The manufacturer of ultra-low-power processors for data/AI processing in smartwatches and health-related wearables, is still more than three years away from profitability, requires heavy expenses for future growth, and is dependent on two to three customers whose products are cyclical and competitive by nature, the analyst tells investors.