Tim Cook Attempts To Debunk Rumors That Apple Cut iPhone Supply Orders

As a result, the stock tanked.

CEO Tim Cook addressed the rumor on today's earnings call, saying even if the rumor 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.