Apple shares fall on reports of cuts to iPhone parts orders
(Reuters) – Shares in Apple Inc dipped below $500 for the first time in almost one year after reports it is slashing orders for screens and other components from its Asian supplier as intensifying competition erodes demand for its latest iPhone. Japan’s Nikkei reported on Monday that the world’s largest technology corporation began sharply reducing buying of liquid crystal displays about a month ago from suppliers like Japan Display Inc and Sharp Corp. Sharp’s stock dipped as much as 7 percent in early trading on Tuesday and shares in South Korean Apple suppliers such as LG Display also fell. . . .
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