Epstein Secrets

/cs/spacer.gif> EFTA_R1_01795597 EFTA02605256 Katy L. Huberty, CFA— Morgan Stanley August 21, 2018

S) having new or lapsed subscribers input their payment =ethod directly into Netflix through a mobile web version of the =ervice, thereby bypassing the App Store on iOS devices. In a worst case =cenario, this would imply that Apple would no longer take a 15-30% cut =f all NFLX related International revenue ca

vices. In a worst case =cenario, this would imply that Apple would no longer take a 15-30% cut =f all NFLX related International revenue captured in the App Store. =ccording to Sensor Tower estimates, we believe Entertainment-related =pp purchases account for - 6% of App Store net revenue and 2% of Apple =erv

www.morganstanley.com/img/cs=spacer.gif> &nb=p; Katy L. Huberty= CFA — Morgan Stanley August 1, 2018

one-time legal benefit implies 28% Y/Y no=malized growth. In the June quarter, paid subscriptions to Apple Services t=pped 300M users (+60% Y/Y) and the App Store, AppleCare, Apple Music, iClou= and Apple Pay all set new June quarterly revenue records. For the App Stor=, results were even more impressive when

www.=organstanley.com/img/cs/spacer.gif> &nb=p; Katy L Huberty= CFA — Morgan Stanley April 8, 2019 4:

ining existing competitors, healthcare i= a market where Apple has the potential to lead digital disruption —=much like what iTunes did for music or the App Store for mobile services.Th= company's healthcare strategy appears to aim for an ecosystem that=puts the consumer at the center. Based on what it has don