Burry Diverges from Tech, Bets Against Nvidia and Micron with Consumer and Healthcare

Michael Burry, a well-known investor who made his mark by shorting the US housing market, is now drawing a line between technology and everything else. He has expanded his bearish bets against Nvidia (NASDAQ: NVDA) and Micron Technology (NASDAQ: MU), while simultaneously adding to consumer, healthcare, and gambling stocks.

Burry's latest semiconductor short positions include puts expiring in December 2026 for Nvidia, QQQ puts expiring in January 2027, and short positions in both Micron and the iShares Semiconductor ETF. This move comes against a backdrop of exceptional financial performance from these companies, with Nvidia reporting an 85% revenue surge to $81.6 billion in its most recent results.

Micron posted record quarterly revenue of $41.5 billion and guided for approximately $50 billion in the following quarter. Burry's short thesis is dependent on a market correction rather than fundamental weakness.

On the long side, Burry has increased his DraftKings (NASDAQ: DKNG) stake at around $23.40 and added to Flutter Entertainment. He also added to Zoetis (NYSE: ZTS) at roughly $76 and Lululemon Athletica (NASDAQ: LULU) near $118.

Burry's thesis on Lululemon is particularly contrarian, given the company's first-quarter Americas revenue fell 3%, operating margin declined 730 basis points, and earnings dropped to $1.69 per share from $2.60 the prior year.