Link error /Build/Products/Debug-iphonesimulator file not found
As some of the fellow developers have mentioned here, the root cause of the error was "Change in Product Name". I fixed it by :
Go to [project]Tests -> general
Select Host Application
I picked up a project that had this same error. I found that the project name had changed, but the code I had did not reflect that change in the project build settings. To correct, I updated the "Product Name" value (found under targets | Packaging) to the correct value and rebuilt the project. Ran fine.
I got this fixed by selecting the Tests target and searching for Bundle Loader in Build Settings and changing the product name in that path. I got this error because I have changed the Product name. The Bundle loader has the old product name in the path, so it searches for that path.