This means his outfit owns two percent of Micron. Einhorn has gone on record saying that Micron stands to benefit from industry consolidation. This comment resulted in a rally in Micron's shares.
However, Micron has some serious challenges. At the end of July, Micron, based in Boise, Idaho, completed its acquisition of failed Japanese memory chipmaker Elpida in a move to create economies of scale and better challenge memory chip leader Samsung Electronics.
Elpida though has so much debt, owning it could be a poisoned chalice to any self-respecting company. Memory chip prices slumped last year that led some chipmakers to throttle back production.