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Updated from 9:28 a.m. EDT
PortalPlayer (PLAY Quote) plunged 42% after the company said Apple (AAPL Quote) took a pass on one of its products.
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. ...
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