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Apple CEO downplays reports of iPhone order cuts

Published Jan 23rd, 2013 5:40PM EST
iPhone Order Cuts

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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.

Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.