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Michael Burry Shorts Micron, Warns AI Chip Valuations Collapse

7/5/2026

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Summary

Story summary

Michael Burry announced a short position on Micron Technology (MU) at $1,051.87 per share on July 2.
He also shorted Nvidia, Applied Materials and the iShares Semiconductor ETF, warning that AI chip valuations could fall up to 30%.
Micron’s shares dropped 5.49% on July 2, closing at $975.56.
Burry added long positions in PayPal, Sprouts, Zoetis, Fannie Mae and Freddie Mac as the Philadelphia Semiconductor Index fell 12% over two days.

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Story summary

Michael Burry announced a short position on Micron Technology (MU) at $1,051.87 per share on July 2.
He also shorted Nvidia, Applied Materials and the iShares Semiconductor ETF, warning that AI chip valuations could fall up to 30%.
Micron’s shares dropped 5.49% on July 2, closing at $975.56.
Burry added long positions in PayPal, Sprouts, Zoetis, Fannie Mae and Freddie Mac as the Philadelphia Semiconductor Index fell 12% over two days.