Chips with zip.Napster hasn't made any money, but the companies that make the chips for CD recording (or burning) devices are cleaning up.

Joseph Spiegel, a hedge fund manager with Spinner Asset Management, particularly favors Oak Technology (Nasdaq : OAKT) because it has a near-monopoly in this market, selling chips to six of the top seven CD-burning manufacturers, which include Hewlett-Packard (NYSE : HWP) and Sony (NYSE : SNE).

Mr. Spiegel also likes CD-recording chip maker Cirrus Logic (Nasdaq : CRUS) and C-Cube Microsystems (Nasdaq : CUBE), which is designing DVD-enabling chips. Spinner owns Oak and C-Cube, but not Cirrus Logic.

A winter's taleMany market pundits are calling for another winter bull run for technology stocks, but the Santa Claus rally may not be as jolly as advertised.

According to Quantum Research & Investment Group's Eric Greschner, the median rise of stocks in December and January from 1928 to 2000 is only 2.1 percent and 1.6 percent, respectively.

Value's got growth's numberSince February 2000, value indices are outperforming their growth brethren by about 250 percent, says David Brady, who manages the Stein Roe Focus fund. He believes this trend will continue.

"Investors are much more likely to hit a four-bagger with value plays, and I don't see growth making a comeback anytime soon," Mr. Brady says. His fund was up just 4 percent for the year as of November 15.

The Insider column follows the money that flows through the tech world and Wall Street -- and scoops up the loose change. Send tips for The Insider to eric.moskowitz@redherring.com.