Apple Inc shares dipped 1 percent in early trading after an analyst said the iPhone maker is cutting orders from suppliers of parts for its iPad tablet.

JPMorgan Chase said in the research note that several suppliers indicated in the past two weeks that Apple lowered fourth-quarter iPad orders by 25 percent.

Our understanding is that this is not in preparation for a new model launch, the analysts said.

The move could result in slower sales for suppliers like Hon Hai Precision Industry Co.

Apple did not immediately reply to a request for comment.

(Reporting by Yinka Adegoke; Editing by Derek Caney)