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Apple Cuts iPhone 5 Production, Stock Falls: Is the Age of Apple Over?


Apple (AAPL) shares falling 4% to $498.20 Monday morning after The Wall Street Journal reported that the tech giant was slashing orders for iPhone 5 parts by half. Apple notified suppliers last month that it was cutting orders of LCD screens and other components. Weaker-than-expected demand and lackluster sales for the iPhone 5 have been cited as the reasons behind the production changes.