Michael Burry, the investor who predicted the 2008 housing crash, opened a short position against Micron Technology (MU). Burry disclosed in a Substack post that he shorted the stock at $1,051.87 per share. He argues the AI-driven rally has pushed the memory-chip manufacturer into a speculative bubble.
Burry attributes the recent price surge to investor fear of missing out rather than fundamental value. He cited Micron's historical cyclicality and poor long-term returns on capital as primary concerns.
This trade aligns with Burry's wider bearish outlook on the semiconductor sector. He also holds short positions against Nvidia, Applied Materials, and the iShares Semiconductor ETF (SOXX).