The Bucks announced the injury late Tuesday:
MORE: Parker, Bucks have bright future despite injury | Eight places to trade Lance Stephenson | Nike Christmas collection
Parker, the 2014 No. 2 overall pick, injured the knee on this play.
Fans feared the worst as Parker appeared to hurt himself before colliding with a Phoenix player on a drive.
The NBA has already lost top rookies Joel Embiid and Julius Randle to injuries this season.
