Epstein Index›Documents›EFTA00632418
💨IMPACT LEVEL 1 — MEH

Epstein File EFTA00632418: Document from Set 9 (DS9)

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Financial analysis report from Morgan Stanley dated February 1, 2017, authored by Huberty, CFA, discussing Apple Inc. stock performance and projections. The report analyzes iPhone sales cycles, services revenue growth, and product constraints, concluding that Street estimates for FY18 are too low. This document concerns investment analysis and contains no apparent connection to the Epstein case.

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Huberty, CFA - Morgan Stanley February 1, 2017 2:21 AM GMT Apple is our top pick with the upcoming **iPhone** supercycle accentuated by the possibility of
Excerpt 2
Over 20% normalized services revenue growth, re-accelerating **iPhone** unit growth, and constraints across several products are encouraging signs customer
Excerpt 3
weakness as was the case ahead of **iPhone** 6.We're increasingly convinced Street estimates are too low for FY18. **iPhone** returned to growth despite no major

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