Wall Street got worked up about iPhone sales weakness in Apple's second quarter earnings report, but CEO Tim Cook said the cause was quite simple.

"It's that there are more rumors floating and more press articles and mentions of new things, and when that happens, a percentage of people delay," Cook told "Mad Money" host Jim Cramer on Wednesday.

The CEO said that that the widespread leaks hit business particularly hard in China, where it is culturally popular to buy the newest gadgets.

"That probably affects us more in China than other places because there's a tendency there to buy the latest thing, although I have to say, the [iPhone] 7 Plus has done extraordinarily well there," Cook said.

Watch the full segment here: