Analyst Update: Lululemon, Apple, Micron Technology

Analysts chimed in on athletic apparel producer Lululemon Athletica inc. (NASDAQ:LULU), Dow tech titan Apple Inc. (NASDAQ:AAPL), and semiconductor firm Micron Technology, Inc. (NASDAQ:MU).  Here's a quick roundup of today's brokerage notes on LULU, AAPL, and MU.

• LULU is 2.3% higher at $54.12, after Morgan Stanley raised the company to "overweight" from "equal weight" and issued a price target elevation to $68 from $56. Earlier this month, shares of Lululemon Athletica inc. plunged in the wake of poorly received earnings, but seem to have found a foothold atop their 80-week moving average. Meanwhile, 20% of LULU's shares are sold short, representing more than two weeks' worth of pent-up buying demand, at the stock's average pace of trading. Should the bears to abandon their pessimistic positions, we could see the shares benefit from a short-covering rally. 

• AAPL is up 0.5% at $113.98, and in the news for various reasons this afternoon. According to Wenhui News, Apple Inc. registered an entity that will bring Apple Pay to China (subscription required). In addition, AAPL has removed dozens of popular apps from the iTunes App Store, after security researchers from Palo Alto Networks Inc (NYSE:PANW) realized that a number were infected with malware. Furthermore, Apple reported the "fastest iOS adoption ever," and said its new iPhones will be available at retail stores on Friday, Sept. 25. In addition to all of this news, Canaccord Genuity raised its price target on the tech firm to $160 from $155, and reiterated a "buy" rating  -- in uncharted territory, and echoing a move from JMP Securities from last week. Options players have taken a bit of a bearish shine toward AAPL of late, as the firm's 10-day put/call volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 0.68 is higher than 93% of the readings taken during the past 52 weeks. 

• Finally, MU is 1.9% higher at $15.79, after Barclays started the stock with an "overweight" rating and a price target of $20 (the brokerage firm also weighed in on this sector peer). To say that Micron Technology, Inc. has had a rough year would be an understatement -- the shares have shed 56% in 2015. While this potential portfolio fund laggard continues to face massive overhead resistance from a number of moving averages, brokerages remain bullishly aligned. At last check, 19 of the 28 analysts tracking the firm rate it a "buy" or better.