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Pathikrit Bose

Michael Burry Accuses Meta Platforms of ‘Common Fraud’ and Inflated Earnings. Should You Still Buy META Stock Now?

Michael Burry Meta Yann LeCun Alexander Wang Nvidia

Suddenly, Mark Zuckerberg-led Meta Platforms (META), which owns some of the most used social media platforms in the world, such as Instagram, WhatsApp, and Facebook, is having a tough time in the markets. The latest salvo has come from Big Short investor Michael Burry. 

Burry has taken up the cudgels against the hottest trade of the times: AI. While earlier taking short calls on Nvidia (NVDA) and Palantir (PLTR) was because of structural risks (ROI concerns) and elevated valuations, hyperscalers Meta and Oracle (ORCL) have been targeted by Burry for supposedly inflating profits by extending the useful life of Nvidia chips. Burry reckons that these chips have a useful life of two to three years, while companies like Meta are assigning a useful life of five to six years. Consequently, this is lowering depreciation costs and inflating profits.

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