Michael Burry has been one of the most vocal voices against the artificial intelligence (AI) trade. Previously, the infamous investor aimed at the likes of Nvidia (NVDA) and Palantir (PLTR). Now, shares of memory chip giant Micron (MU) are entering his crosshairs.
Backing his rationale in a Substack post, Burry attributed the rally to “fear of missing out, greater fool theory, [and] public commitment bias.” Not stopping there, he also delved into the stock's historical price movement to state that, in the past 42 years, Micron stock has witnessed 34 drawdowns of 30% or more.
