The biggest Apple story last week was that Apple reportedly cut orders on iPhone supplies. As a result, the stock tanked.
CEO Tim Cook addressed the rumour on today’s earnings call, saying even if the rumour was true, one data point shouldn’t be taken as a sign for how Apple’s whole business is performing.
“I’d stress that even if a particular data point were to be factual, it would be impossible to interpret the effect on our business,” Cook said. “Our supply chain is very complex…there’s a long list of things that would make any single data point not a great proxy for what’s going on.”
He also said it would be impossible for one supplier to know what’s going on with Apple’s future business plans.