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Greenlight's Einhorn says Micron 'will be worth more than' Netflix

The main entrance to Micron corporate headquarters in Boise, Idaho, February 3, 2012.

Billionaire hedge fund manager David Einhorn said in an investor letter on Monday that chipmaker Micron Technology Inc (MU.O) would be worth more than Netflix Inc (NFLX.O) within the next few years.

Einhorn, whose $12 billion Greenlight Capital funds posted a negative 1.5 percent return net of fees and expenses in the second quarter, according to the letter, said semiconductor technology was "bright" for the next several years while Netflix had "pushed its promises into the distant future."

"Our long-term outlook is that sometime in the next few years, MU ... will be worth more than NFLX," Einhorn said. Micron's market capitalization is less than half that of Netflix, at about $19.1 billion, compared with Netflix's $42.9...


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