Morgan Stanley cuts Apple estimates and predicts an iPhone 7 sales slump for 2017 (AAPL)

Morgan Stanley believes that Apple will face "weaker iPhone 7 demand" in the coming months, analysts wrote in a note recently distributed to clients.
Morgan Stanley analyst Katy Hubert and the team's internal models now show "weaker iPhone shipments as buyers start anticipating new iPhones," they wrote in the note.
"We lower iPhone revenue estimates in fiscal 2017 by 3% to reflect weak demand ahead of the supercycle," Huberty writes.
The "supercycle" is an Apple investment thesis that