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updated 07:00 PM EST 01.14.13
Wall Street: WSJ report of iPhone cut may be inaccurate [U]
[Update: New York Times sets the record straighter] An unverified rumor reprinted in The Wall Street Journal and repeated by other media outlets of Apple cutting orders on the iPhone 5, which briefly sent the stock below $500 is likely misleading, say two leading Wall Street analysts, and at best the result of misinterpretation of supplier reports. Both Maynard Um of Wells Fargo and Mark Moskowitz of JP Morgan believe the reports are little more than "noise" designed to manipulate investors and the market.