Micron Technology NASDAQ:MU found itself in Michael Burry's crosshairs again after the famed The Big Short investor disclosed a new short position, arguing the memory chip maker's rally has become detached from fundamentals.
In a post on Substack, Burry said he shorted Micron at $1,051.87 per share, describing the stock's surge as driven by fear of missing out, greater fool theory, [and] public commitment bias. He noted that Micron has suffered 34 drawdowns of more than 30% over the past 42 years and said the stock is now trading further above its 200-day moving average than at any point since 1984, including during the dot-com era.
Micron shares have soared more than 240% since the start of 2026, though the stock has pulled back roughly 10% over the past month. Burry added that put options appeared expensive but said he may add to the bearish bet if volatility eases.
The investor also expanded positions in PayPal (PYPL), Sprouts Farmers Market NASDAQ:SFM, Zoetis NYSE:ZTS, Fannie Mae (FNMA) and Freddie Mac (FMCC). Earlier this week, he disclosed short positions in Nvidia NASDAQ:NVDA, Applied Materials NASDAQ:AMAT and the iShares Semiconductor ETF NASDAQ:SOXX, signaling expectations for a broader AI-driven semiconductor correction.