FORTUNE -- At least four analysts lowered their Apple (AAPL) price targets in the past few days based on reports that the company has reduced its iPhone 5 orders for early 2013: UBS' Steve Milunovich (to $700 from $775), Citi's Glen Yeung...
Why did Apple cut iPhone 5 parts orders? Three theories.
1) iPhone sales are soft. 2) Yields improved. 3) Apple is clearing the way for a new model
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