J. R. Ransom's taosmultimedia.com - iPod Contract Loss Sends Semi Firm's Shares Tumbling

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Apple Tech News

iPod Contract Loss Sends Semi Firm's Shares Tumbling

Wolfson Microelectronics saw nearly one fifth wiped off its share price Thursday following the admission it had lost key business supplier Apple. Despite the chip manufacturer's assertion that growth will absorb the impact of the loss, the news its semiconductors will not be used in the iPod nano and iPod touch players due this autumn sent its shares plunging as much as 25 percent and saw Citigroup analysts downgrade the stock from "buy" to "hold." The shares closed down 18 percent.
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