From: "Jeffrey E." <jeevacation®gmail.com>

From: "Jeffrey E." <jeevacation®gmail.com> To: Richard Kahn Subject: Re: Apple Provides Solid Enhancements to the iPhone 7 and Apple Watch; Maintain $133 FVE Date: Thu, 08 Sep 2016 14:16:36 +0000 get 1 - 7s in the mix , i d like to see if i can handle it On Thu, Sep 8, 2016 at 9:49 AM, Richard Kahn < Richard Kahn HBRK Associates Inc. New York, NY 10022 tel fax cell Begin forwarded message: > wrote: From: "Morgan Stanley" < Subject: Apple Provides Solid Enhancements to the iPhone 7 and Apple Watch; Maintain $133 FVE Date: Se tember 7, 2016 at 8:44:35 PM EDT To: < > Reply-To: WEALTH MANAGEMENT Subscription Notification: September 8 Apple Provides Solid Enhancements to the iPhone 7 and Apple Watch; Maintain $133 FVE — Morningstar EFTA00818909 September 8, 2016 12:41 AM GMT On Wednesday, Apple launched the iPhone 7 and 7 Plus, along with the Apple Watch Series 2, both of which carried a host of hardware upgrades from prior versions but neither of which included a revolutionary enhancement that is likely to spur a massive wave of upgrades, in our view. Nonetheless, we see solid improvements in the iPhone in particular, while we think Apple is handling the transition to an iPhone without a traditional 3.5 millimeter audio jack rather nicely. When combined with switch... Click here to see the full report. This alert is sent from: Andrew Atlas, [email protected] You received this because you asked to be alerted to: APPLE INC. Please contact your FA if you want to unsubscribe from the alerts. Disclosures: Please see the full report for risks, disclosures and other important information. Important disclosures regarding the relationship between the companies that are referenced in Morgan Stanley research and Morgan Stanley Wealth Management research are available on the Morgan Stanley Wealth Management disclosure website at hups://www.morganstanley.com/onlineiresearchdisclosures. Morgan Stanley Wealth Management Not Acting as Municipal Advisor Morgan Stanley Wealth Management is not acting as a municipal advisor to any municipal entity or obligated person within the meaning of Section 15B of the Securities Exchange Act (the "Municipal Advisor Rule") and the opinions or views contained herein are not intended to be, and do not constitute, advice within the meaning of the Municipal Advisor Rule. Copyright The copyright in materials provided by Morgan Stanley is owned by Morgan Stanley & Co. LLC. Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. O 2016 Morgan Stanley Smith Barney LLC. Member SIPC. EFTA00818910 please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00818911