Apple shares drop after reports of iPhone parts cuts

Staff Sacramento Business Journal

Shares of Apple Inc. on Monday fell beneath $500 briefly for the fist time in nearly a year, following reports that the company had cut orders for iPhone 5 components, according to the Mercury News.

Reports said Apple (NASDAQ: AAPL) sharply reduced its orders for screens for the device.

Apple shares closed on Monday at $501.75, a decline of 3.6 percent. They were down more than 2 percent further, to $490, in morning trading Tuesday.

Source: http://feedproxy.google.com/~r/vertical_46/~3/jZTu4xksPpY/apple-shares-drop-after-reports-of.html

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