Notwithstanding supply constraints, an analyst at Morgan Stanley is positive about Apple Inc.’s December quarter performance. Apple Analyst Morgan Stanley analyst Katy Huberty has an Overweight rating and a $200 price target for Apple shares. Apple Thesis Cupertino is likely to post upside to Street forecasts for the December quarter and guide to a relatively in-line March quarter, thanks to improving iPhone production into year-end and modest Services outperformance, Huberty said in a note. Since hitting a low on Oct. 4, Apple’s shares are up 19 percent, suggesting the December quarter upside is largely priced in, she added. The analyst models December quarter revenues of $122.3 billion, a 41.9 percent gross margin and $1.97 per share in earnings. Apple’s management will likely shed light on its active device and iPhone installed base, the analyst said. Among products, Apple may have shipped 83 million units of iPhones, 7.6 million units of Macs …