Mentioned during Apple's FQ1 call: Tim Cook suggests taking iPhone build rumors with a grain of...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Mentioned during Apple's FQ1 call: Tim Cook suggests taking iPhone build rumors with a grain of salt. But he also states Apple's guidance will now reflect actual expectations - FQ2 revenue guidance was below estimates. He downplays talk of a bigger iPhone, and asserts Apple isn't interested in revenue for its own sake. The iPhone 4 was supply-constrained during the quarter, a sign demand for cheaper iPhones is strong in spite of a decent ASP. iPhone channel inventory is in Apple's target range, iPad inventory below as the Mini remains constrained. AAPL -10.5% AH. (live blog) (FQ1: I, II, III)