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From: Richard Kahn Sent: Thursday, Septem er , : To: jeffrey E. Subject: Fwd: Apples Live TV Service May Keep Customers Tuning In Richard Kahn Begin forwarded message: From: =/b>"Morgan Stanley" Subject: =/b>Apple's live TV =ervice May Keep Customers Tuning In Date: =/b>September 8, 2016 at 2:33:09 AM =DT To: =/b> Reply-To: =/b> Wealth management Subscription Notification: September 8 Apple's Live TV =ervice May Keep Customers Tuning In EFTA_R1_001 02402 EFTA01782513 — Morningstar September 7, 201611:00 AM =MT We think that while the firm won't =ifferentiate itself in content, its streaming will provide some =dvantages. Click here to see the =ull report. This alert is sent =rom: Andrew Atlas You received this because you asked =o be alerted to: APPLE INC. Please contact your FA if you want to unsubscribe from the =lerts. Disclosures: Please see the full report for risks, disclosures and =ther important information. Important disclosures regarding the relationship between the companies =hat are referenced in Morgan Stanley research and Morgan Stanley Wealth =anagement research are available on the Morgan Stanley Wealth =anagement disclosure website at https://www.morganstanley.com/online/researchdisclosures. Morgan Stanley Wealth Management Not Acting as Municipal =dvisor Morgan Stanley Wealth Management is not acting as a =unicipal advisor to any municipal entity or obligated person within the =eaning of Section 15B of the Securities Exchange Act (the "Municipal =dvisor Rule") and the opinions or views contained herein are not =ntended to be, and do not constitute, advice within the meaning of the =unicipal Advisor Rule. Copyright The copyright in materials provided by Morgan Stanley is =wned by Morgan Stanley & Co. LLC. Morgan Stanley Wealth Management =s the trade name of Morgan Stanley Smith Barney LLC, a registered =roker-dealer in the United States. © 2016 Morgan Stanley Smith =arney LLC. Member SIPC. 2 EFTA_R1_00102403 EFTA01782514 3 EFTA_R1_00102404 EFTA01782515