Apple shares open below $500

Shares of Apple (AAPL) opened in the $400-range on Tuesday after losing more than half a point from Monday’s closing price of $501.75 in pre-market trading. The stock continued to fall Tuesday morning following earlier reports suggesting Apple recently halved iPhone 5 component orders in light of much weaker than expected demand moving into 2013. The reports were questionable at best, but the stock already had downward momentum that continued into Tuesday. Apple shares are down another 1.2% to $495.73 in Tuesday morning’s session.

[More from BGR: The strange math of Apple’s alleged massive iPhone 5 order cuts]

This article was originally published on BGR.com