Analyst Downgrades: Apple Inc., Krispy Kreme Doughnuts, and Micron Technology, Inc.

Analysts downwardly revised their ratings and price targets on Apple Inc. (NASDAQ:AAPL), Krispy Kreme Doughnuts (NYSE:KKD), and Micron Technology, Inc. (NASDAQ:MU)

by Josh Selway

Published on Sep 10, 2015 at 9:21 AM

Analysts are weighing in on tech giant Apple Inc. (NASDAQ:AAPL), doughnut enthusiast Krispy Kreme Doughnuts (NYSE:KKD), and semiconductor firm Micron Technology, Inc. (NASDAQ:MU). Here's a quick roundup of today's bearish brokerage notes on AAPL, KKD, and MU.

  • A day after its big eventAAPL is set to open lower, due to price-target cuts from Macquarie (to $133) and Jefferies (to $126). Both of these targets still represent major upside to Wednesday's close at $110.15, as Apple Inc. continues to battle its year-to-date breakeven mark. Looking at the options pits, put buying has been popular, with AAPL's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.75 outranking all but 2% of similar readings from the past year. 

  • KKD has dropped 16.4% ahead of the open, as a result of disappointing second-quarter numbers, and a lowered full-year profit forecast. Likewise, a price-target cut to $22 from $24 at Wedbush is applying pressure this morning. The stock's short sellers are applauding the news; at Krispy Kreme Doughnuts' average pace of trading, it would take bears more than eight sessions to buy back their shares. KKD actually held a slim year-over-year lead as of last night's close at $17.73, but will likely give up that perch at the open.

  • MU is fighting to close above its 10-week moving average for the first time since late May, but a price-target cut to $20 at Nomura isn't helping matters -- with the security pointed lower in electronic trading. Even though the stock has lost more than half its value during 2015 to trade at $16.96, most analysts are still bullish. Specifically, 19 of 28 brokerage firms call Micron Technology, Inc. a "buy" or better. Extended losses from MU could be accompanied by additional bearish notes
Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.
Wall Street Roars Higher Amid Civil Unrest
Investors weighed a mixed bag of jobs data
AstraZeneca Stock Flat Despite COVID-19 Vaccine News
AstraZeneca saw a rise in capacity for its COVID-19 vaccine candidate
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.