Apple Inc. (AAPL) is said to have cut its orders with LCD panel suppliers for the iPhone 5 for the 2013 first quarter by nearly 50% owing to weak demand. The tech giant also reportedly trimmed orders for other screen sizes as well. Further, the company is reportedly dialing down its orders for components other than screens.
Apple gapped open sharply lower Monday, but traded in a range throughout the session. The stock finished down by 18.55 at $501.75 and closed testing the lower end of over a 2-month range.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.