Apple CEO downplays reports of iPhone order cuts

In a rare move, Apple (AAPL) CEO Tim Cook took a moment on the company’s earnings call to address recent market rumors suggesting Apple has cut iPhone component orders due to weak demand. While Cook did not speak to any particular rumor, he made it clear that if any component cuts have been made, analysts are misinterpreting them by suggesting that they are due to shifts in iPhone demand. ”It would be impossible to accurately interpret what any particular data point means to our business,” the CEO said. Apple shares dropped more than 9% during after-hours trading on Wednesday following Apple’s first-quarter earnings report.

[More from BGR: Apple reports Q1 results: $13.1 billion profit beats estimates, iPhone sales and Q2 guidance miss big]

This article was originally published on BGR.com