Here are the details on the new iPhone: Deutsche

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Apple shares are down modestly this year due to weaker-than-expected smartphone sales and concerns the next iPhone will lack a big overhaul. In a note sent to clients Thursday, Deutsche Bank confirmed this will likely be the case but there are still some interesting features you may not expect.

The company's stock is down 5 percent year to date as of Wednesday's close.

Deutsche Bank's iPhone report said that along with the well-publicized headphone-jack removal, there will be other key changes in the iPhone 7 and iPhone 7 Plus, according to its supply chain checks.