Nov 21 (Reuters) - Greenlight Capital President DavidEinhorn said on Thursday that he has taken a stake in MicronTechnology Inc because the chipmaker stands to benefitfrom industry consolidation, and defended his investment inApple Inc by citing the company's software sales.
However, the famed investment manager said he remains shorton Green Mountain Coffee Roasters Inc - citing risingcompetition from other makers of coffee-brewing packets - andChipotle Mexican Grill Inc.
He also warned that while it is hard to say if marketsoverall are in a bubble, certain stocks are behaving in a"bubble-like fashion" because they lack profits. He did not citeexamples of specific companies, however.
Einhorn made the comments in an interview aired on CNBC,after speaking at an investor conference in New York City thatwas closed to the media.
Reports of his remarks sent shares of Micron Technologyhigher earlier in the trading session. They were up 6.1 percentat $19.95 in afternoon trade.
Another company mentioned at the conference was Japanesetechnology investor SoftBank Corp. Reports from theconference indicated another speaker, Third Point LLC ChiefExecutive Daniel Loeb, said he disclosed a stake in SoftBank.
The conference was sponsored by The Robin Hood Foundation, aNew York City anti-poverty charity, founded by Paul Tudor Jonesof Tudor Investment Corp.
Its board members include Einhorn and other well-knownfigures such as Laurence Fink, chief executive of asset managerBlackRock Inc and Jeffrey Immelt, chief executive ofGeneral Electric Co.
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