Reports have begun to surface that an Apple exec said the company is planning on reducing iPod prices in June. This is Money quoted Apple CFO Peter Oppenheimer, and though the media outlet didn't attribute the story, it came from a Reuters piece that ran Wednesday. The problem, however, is that the comment is being taken out of context.

The quote was in reference to the iPod's average selling price (ASP), a term used in the world of corporate finance to refer to the total average price of product line throughout the quarter. If pricing on a product is raised or lowered during a quarter, its ASP will be affected when the company reports its results.

In this case, Mr. Oppenheimer told Reuters, ""We expect [iPod's ASP] to be down a little bit in the June quarter." This is because the June quarter will be the first quarter with the iPods introduced during the March quarter with lower prices (iPod shuffle now starts at $69, and the iPod nano now starts at $149).

Apple has a long history of not offering product-level guidance for its products. In the analyst conference call held Wednesday, for instance, Apple execs Peter Oppenheimer and Tim Cook refused all efforts from analysts to get a clarification from Apple on whether or not the company would lower the price of either its Mac mini or iPod line in an effort to get more market share.

When the two were asked pointed questions about Apple product pricing, Mr. Oppenheimer replied "As you know, we don't give product level guidance."

Since This is Money's report first appeared Thursday, TechWeb and other media outlets have since repeated the misinterpretation.

Apple declined to comment for this story.

[Update: This story has been updated with a better clarification on where the quote came from, and how it was being misinterpreted. - Editor]