xcode4 - .app file appears in red (missing) in new projects with Xcode 4

Question

Every time I create an Xcode 4 project (iPhone app, cocoa library...) the .app file or the .a file under Products group appears in red (is missing).

Even if I build the project the file stills in red.

All my settings are default.

Answer 1

Try Building and Running on a device, I've noticed the same red text problem, but selected my iPhone and the red text has disappeared.