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Einhorn touts Micron, Apple but warns on certain 'bubble-like' stocks

Nov 21 (Reuters) - Greenlight Capital President David Einhorn said on Thursday that he has taken a stake in Micron Technology Inc because the chipmaker stands to benefit from industry consolidation, and defended his investment in Apple Inc by citing the company's software sales.

However, the famed investment manager said he remains short on Green Mountain Coffee Roasters Inc - citing rising competition from other makers of coffee-brewing packets - and Chipotle Mexican Grill Inc.

He also warned that while it is hard to say if markets overall are in a bubble, certain stocks are behaving in a "bubble-like fashion" because they lack profits. He did not cite examples of specific companies, however.

Einhorn made the comments in an interview aired on CNBC, after speaking at an investor conference in New York City that was closed to the media.

Reports of his remarks sent shares of Micron Technology higher earlier in the trading session. They were up 6.1 percent at $19.95 in afternoon trade.

Another company mentioned at the conference was Japanese technology investor SoftBank Corp. Reports from the conference indicated another speaker, Third Point LLC Chief Executive Daniel Loeb, said he disclosed a stake in SoftBank.

The conference was sponsored by The Robin Hood Foundation, a New York City anti-poverty charity, founded by Paul Tudor Jones of Tudor Investment Corp.

Its board members include Einhorn and other well-known figures such as Laurence Fink, chief executive of asset manager BlackRock Inc and Jeffrey Immelt, chief executive of General Electric Co.