Michael Burry Shorts Micron, Adding to His NVIDIA and Applied Materials Short Bets Against Chip Stocks

Michael Burry disclosed a new short position against Micron Technology, adding to a broader set of bets against AI-linked chip stocks. In a Substack post dated July 2, the Scion Asset Management founder said puts “seemed expensive,” so he shorted Micron directly, with his disclosed entry at $1,051.87 per share and an intention to add puts if volatility eases. The Micron short follows disclosures on June 30 covering shorts against NVIDIA, Applied Materials and the iShares Semiconductor ETF, with Burry arguing AI-related chip stocks may be due for a 30% correction. He cited cycle history and stretched technicals, including Micron shares up 242% year to date through July 2 and extended above the 200-day moving average since 1984. Against the bearish case, the article notes Micron’s Q3 FY26 revenue of $41.46 billion and Q4 guidance around $50 billion.