RE: PortalPlayer /TSC Staff:``Apple Rotten to PortalPlayer ``below

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RE: PortalPlayer /TSC Staff:``Apple Rotten to PortalPlayer ``below

posted on Apr 20, 2006 06:04AM

Apple Rotten to PortalPlayer

By TSC Staff

4/20/2006 9:28 AM EDT

PortalPlayer (PLAY:Nasdaq - commentary - research - Cramer`s Take) plunged 44% after the company said Apple (AAPL:Nasdaq - commentary - research - Cramer`s Take) took a pass on one of its products.

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San Jose, Calif.-based PortalPlayer said Apple took a raincheck on the follow-on to its PP5021 System-on-Chip. PortalPlayer said the product is expected to be ready in the second half of 2006 but that Apple won`t use it in midrange and high-end flash-based iPods.

PortalPlayer said it believes that the PP5021 will continue to be used in other members of the iPod family.

Early Thursday, PortalPlayer dropped $9.90 to $12.69. Meanwhile, Sigmatel (SGTL:Nasdaq - commentary - research - Cramer`s Take), a rival flash memory supplier to Apple`s iPod line, was up 65 cents, or 7%, to $9.25, in early trading Thursday.