Tech Today: Apple Upgrade, Adobe Stumbles, Dimon Trashes Bitcoin

Here are more than a few things going on in your world of tech, with the Technology Select Sector SPDR Fund (XLK) up fractionally to a new 52-week high.

Apple (AAPL) shares were up 1.5% in midday trading after KeyBanc Capital upgraded the stock to Overweight, saying the aggressive move to "subscription-like" phone purchases can offset slowing sales, MarketWatch reports. KeyBanc's base-case price target is $187, which is 17% above a recent price of $159.41.

Also among analyst upgrades and downgrades:

PayPal Holdings (PYPL) shares are down 1.4% today, though Instinet raised its price target to $75. PayPal's market value passed that of American Express (AXP) last week thanks to a nearly 75% rally in its stock price this year, The Wall Street Journal reports. Morgan Stanley upgraded PayPal shares last week and said the stock could reach $88 in a best-case scenario. More on that in the latest Barron's magazine research summary.
MACOM Technology solutions Holdings (MTSI) stumbled by 11% after Stifel lowered its rating on the fiber optic and semiconductor solutions company to Hold from Buy.
OmniCom Group (OMC), the advertising giant, was cut to Equal Weight at Morgan Stanley as International Business Machines (IBM) and Accenture muscle into the ad market.
Adobe Systems (ADBE) shares sunk 2.5% after Deutsche Bank cut its rating on the stock to Hold from Buy. RBC Capital Markets also issued negative comments.
Micron Technology (MU) shares jumped more than 2% after its target got a boost to $50 at Instinet.
Groupon (GRPN) shares were up more than 3% after Cowen raised its stock rating to Market Perform from Underperform.
Netflix (NFLX) coverage started at Hold at Aegis Capital. Netflix reports earnings after today's closing bell.
Nvidia (NVDA) shares were up 0.7% after Mizuho raised its price target to $220.
Infinera (INFN) shares fell 0.5%; it was raised to Neutral from Sell at Citigroup.

Some stories we are reading: