Apple Cuts Orders of iPhone 5 Parts

Apple has cut orders for the components of its iPhone 5, and it’s probably due to weaker-than-expected demand. The company has cut orders for iPhone 5 screens by about half of what it had previously planned to order for the January-March quarter. Sources say there have been cuts to orders for other components as well. Apple has recently been facing challenges from Samsung and other smartphone makers. Apple's stock plunged Monday by more than $15 on the news. It's nearly 30 percent lower than it was at it's peak.