Apple tanks after reportedly cutting production of its 3 newest iPhone models amid waning demand (AA

Apple has cut production orders for all three iPhone models launched in September, according to the Wall Street Journal. A handful of iPhone suppliers last week cut their outlook, citing a drop in demand from one of their biggest customers. Earlier this month, the smartphone giant reported underwhelming iPhone sales and said its holiday quarter would be on the low end of expectations. Shares have been under pressure recently, down more than 20% from its October peak. Watch Apple trade...