Tim Cook Responds To Rumors About iPhone 5 Order Cuts

Tim Cook

There have been several rumors and speculations, which have claimed that Apple has cut iPhone 5 component orders due to weak demand.

These speculations had put a lot of pressure on the stock even before the company announced its results today.

Apple’s CEO Tim Cook tried to address these concerns during the earnings call.

Months of rumors about order cuts and so forth, so let me take a moment to comment on these. No comment on any particular rumor.

I suggest its good to question the accuracy of any kind of rumor about build plans. Even if a particular data point were factual, it would be impossible to interpret that data point as to what it meant to our business. The supply chain is very complex and we have multiple sources for things. Yields can vary, supplier performance can vary. There is an inordinate long list of things that can make any single data point not a great proxy for what is going on.

Apple couldn’t respond to these rumors earlier as SEC rules prohibit it from doing so during the quiet period.

Apple guidance for the second quarter of fiscal 2013 includes expected revenue of $41-43 billion. But that hasn’t helped as the stock is down over 10% in after market trading.

Via: MacRumors

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