Analyst Downgrades: Apple, Krispy Kreme, and Micron

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 event, AAPL 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.