Apple shares fall on report of parts orders cuts

January 14, 2013

Apple shares are down 4 percent in morning trading, putting them below the $500 mark for the first time since February.

The drop came after The Wall Street Journal reported that the company has cut its orders for 5 components due to weaker-than-expected demand.

The newspaper says that two people it did not identify by name told it that Apple's first quarter orders for screens have dropped to about half of what the company had previously planned to order.

It says one of the people told the newspaper that the Cupertino, Calif., company has also cut orders for components other than screens.

shares dipped as low as $498.51 early in the session before climbing back to $505.14 later in the morning.

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