Key Stats for Micron Stock
- Price change for Micron stock in last 6 months: 228%
- $MU Stock Price as of Sep. 28: $1054
- 52-Week High: $1255
- $MU Stock Price Target: $1521
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What Happened?
Michael Burry is changing how he bets against AI. Burry is famous for betting against the housing market before the 2007–2009 financial crisis.
In his Monday newsletter, he said he’s swapping his short positions for put options. Puts let him bet on a drop with more leverage and less money, but over a shorter time frame.
“Fundamentally, I am moving timelines up,” he wrote. He said the main reason is that the AI bubble may burst sooner than expected.
He replaced three shorts with puts. His Micron (MU) puts expire in June, with strike prices around $500.
His Nebius (NBIS) puts also expire in June, with double-digit strikes. His SOXX semiconductor ETF puts expire in September 2027, with strikes in the low $400s.
Earlier this month, he had added to his shorts on all three.
Burry pointed to Acer CEO Jason Chen. Chen said memory chip cycles will return as China keeps adding production capacity.
Micron sees it differently. On its June call, management said demand is well ahead of supply and should stay tight beyond 2027.
Fiscal Q3 revenue jumped 346% from a year ago to $41.5 billion. Gross margin hit a record 84.9%. Micron also signed 16 long-term customer deals worth at least $100 billion.
One detail may help the bears. Micron said its Q4 outlook reflects a “meaningful moderation” in price increases. It also expects industry supply to improve gradually in 2028.
For Micron stock, timing is everything. With June puts, Burry needs a drop within months, not years.
Nebius is Burry’s other June bet. Choosing short-dated puts signals he expects a sharp move lower soon.
Palantir (PLTR) sits in the same AI trade. The stock is about 10% below its all-time high, showing that even AI leaders have cooled off.
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What the Market Is Telling Us About Micron Stock
So far, the market hasn’t sided with Burry. In May, he said stocks felt like the last months of the 1999–2000 bubble. Yet the Nasdaq Composite closed at a record last week.
Still, many AI names are below their peaks. Micron stock sits 16% off its record.
Burry’s puts turn this into a clear test. If Micron’s supply story holds through June, his bet may expire worthless.
If memory prices turn, Micron stock could be where it shows first.
Burry is betting the AI trade cracks by next summer.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
