UPDATED 15:49 PM EST, January 14, 2013
NEW YORK (AP) — 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 iPhone 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 iPhone 5 screens have dropped to about half of what the company had previously planned to order.
