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.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.25% or $1.31/share to $516.31. In the past year, the shares have traded as low as $385.10 and as high as $594.59. On average, 12238100 shares of AAPL exchange hands on a given day and today's volume is recorded at 5831435.
Chipotle Mexican Grill, Inc. (Chipotle) operates Chipotle Mexican Grill restaurants. Shares of CMG traded higher by 1.64% or $8.7/share to $540.36. In the past year, the shares have traded as low as $257.24 and as high as $550.28. On average, 389432 shares of CMG exchange hands on a given day and today's volume is recorded at 224609.
Green Mountain Coffee Roasters, Inc. (GMCR) is a specialty coffee and coffee maker. Shares of GMCR traded higher by 14.02% or $8.67/share to $70.50. In the past year, the shares have traded as low as $27.88 and as high as $89.66. On average, 4221390 shares of GMCR exchange hands on a given day and today's volume is recorded at 16076422.
Micron Technology, Inc., is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products. Shares of MU traded higher by 6.12% or $1.15/share to $19.95. In the past year, the shares have traded as low as $5.54 and as high as $19.88. On average, 44117700 shares of MU exchange hands on a given day and today's volume is recorded at 62788140.
Source
