Brian Bolan is the Aggressive Growth Stock Strategist at Zacks Investment Research and he is taking a closer look at the hottest IPO of 2014, GoPro GPRO. Brian also takes a look at a better way to play to boom in ultra HD video with the chip company Ambarella AMBA.

As a Zacks Rank #2 (Buy) GoPro has blistered higher by more than 215% since its recent IPO and Brian is calling for an “IPO halo” style event for the next quarter. The fact that it’s in the news as much as it is could help boost sales above the $262M consensus estimate. Brian is expecting the company to beat on the top line and the bottom line next quarter.

While GoPro GPRO is very hot, investors could get burned as the valuation for the camera maker is very lofty. Brian presents a better way to play this recent boom in Ambarella AMBA. AMBA makes the chip that allows for ultra HD videos and has GPRO as a major customer. AMBA also counts Google GOOG as a customer as well, but look for the list of customers to eventually include HTC and Samsung as they enter the market in the coming weeks.