Michael Burry Discloses New Short on Micron, Adds to Chip Bets
Michael Burry, the Scion Asset Management founder famous from The Big Short, disclosed a new short position on Micron Technology (MU) in a July 2 Substack post, adding to his existing short bets on NVIDIA and Applied Materials (AMAT).
Key Numbers
Michael Burry, the Scion Asset Management founder popularized in The Big Short, disclosed a new short position against Micron Technology (NASDAQ:MU) in a Substack post dated July 2. Burry stated that the puts “seemed expensive,” so he shorted the stock directly and would add puts if volatility eases. He identified his disclosed entry at $1,051.87.
Details of the Bet
In addition to Micron, Burry holds short positions on NVIDIA (NASDAQ:NVDA) and Applied Materials (NASDAQ:AMAT), indicating a bearish view on the semiconductor sector. He did not disclose the size of the positions.
Context
Burry's moves come at a time of high volatility in the chip sector, with concerns over slowing demand and elevated valuations. Burry is known for his successful bet against the housing market before the 2008 financial crisis.
What This Means for Investors
While Burry's bets may signal his concerns, they are not a recommendation to sell. Investors should consider each company's fundamentals and sector outlook before making decisions.
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