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TheStreet Open House

Apple's Stock Falls, Pulling Down Component Makers (Update1)

(Updates share prices of Apple and its component partners.)

NEW YORK ( TheStreet) -- Shares of Apple (AAPL) and some of its key partners slipped on Monday following a media report that the tech company has cut iPhone component orders.

The Wall Street Journal on Sunday said Apple reduced component orders for its iPhone 5 because of "weaker-than-expected" demand during its January-to-March quarter.

Apple has not yet responded to TheStreet's request for comment. The company's shares fell 3.2% to $503.86 as of 12:35 p.m. New York time.

The rumor also weighed on Apple iPhone component suppliers Skyworks Solutions (SWKS) and Cirrus Logic (CRUS), pushing their shares down 0.84% and 8.5%, to $21.19 and $28.89, respectively.

Avago (AVGO), which has a power amplifier module and a duplexer module within the iPhone 5, was down 0.55% to $34.15, while TriQuint (TQNT) was down 1.46% to $5.07.

Launched in a blaze of publicity in September, the iPhone 5 shattered the company's pre-order records, and was lauded by the Cupertino, Calif.-based firm as the fastest-selling phone in history.

Apple sold a total of 26.9 million iPhones, including the newly launched iPhone 5, during its fiscal fourth quarter ending in September, up from 17.1 million a year earlier.

In November, tech research firm Strategy Analytics estimated that Apple sold 6 million iPhone 5s during the September quarter and predicted that the device would out-ship Samsung's Galaxy S3 during the fourth quarter to become the world's most popular smartphone model.

-- Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

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