Here, we reevaluated the “two-component” model of absolute pitch (AP) by combining behavioral and electrophysiological measurements. This specific model postulates that AP is driven by a perceptual encoding ability (i.e., pitch memory) plus an associative memory component (i.e., pitch labeling). To test these predictions, during EEG measurements AP and non-AP (NAP) musicians were passively exposed to piano tones (first component of the model) and additionally instructed to judge whether combinations of tones and labels were conceptually associated or not (second component of the model). Auditory-evoked N1/P2 potentials did not reveal.