Hedge fund manager David Einhorn said that chipmaker Micron Technology Inc. (MU) would be worth more than Netflix Inc. (NFLX) within the next few years.
Einhorn said semiconductor technology such as Micron Technology was “bright” for the next several years. In contrast, 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.” Micron’s market capitalization is about $19.1 billion. This is less than half that of Netflix’s.
He said that Micron’s shares, which fell about 31 percent in the second quarter, “have fallen too far.”