Radar Movers: Apple Touches Below $500, Dell and Herbalife Surge
Shares of Apple (NASDAQ:AAPL) closed 3.6 percent lower on Monday, but received some support in late afternoon trading. The Nikkei newswire as well as The Wall Street Journal said the company had cut productions orders for LCD screens at Japan Display, Sharp, and LG Display by half from an initial total of 65 million for the January to March quarter. Orders for other iPhone components, including processors, had also been cut, the reports added. During intra-day trading, Apple briefly touched below $500 for the first time in 11 months.