Michael Burry disclosed a fresh basket of shorts against Tesla, Nvidia, Caterpillar, Applied Materials, and the semiconductor sector on June 30. Within days, several of those same corners of the market started cracking.

The Setup: Burry’s Basket Built on One Thesis

Burry laid out his positions in a Substack post titled “Trading Post June 30, 2026.” He framed them as a single bet against an overheated AI cycle, not isolated stock picks. He called the semiconductor index “a pure form of overvaluation” and rolled his SOXX puts out to March 2027.

He also disclosed new shorts on Tesla at $416.22 and Caterpillar at $1,060.98, a stock he had never shorted before despite trading it profitably on the long side for years.

The Philadelphia Semiconductor Index was already trading more than 65% above its 200-day moving average when Burry made his call. He compared the stretch to conditions last seen during the dot-com era.

What’s Happened Since

Days later, reports surfaced that Meta is building a business called Meta Compute to lease out its surplus AI data center capacity to outside customers. Investors read the move as a signal that compute supply may be catching up with demand.

On Thursday, July 2, the Philadelphia Semiconductor Index dropped more than 6%, its steepest single-day fall in recent memory. The selloff spread to Samsung and SK Hynix in Asia and briefly triggered a circuit breaker on South Korea’s Kospi.

Memory and storage names took the hardest hits. SanDisk sank almost 20% in the past five session. Seagate and Micron also slid on fears of a supply glut as Samsung and SK Hynix ramp up new capacity. Micron’s fundamentals remain strong, with fiscal third-quarter revenue up 346% year over year. Even so, the stock has given back a chunk of its 2026 gains.

Tesla fell 7.5% that same Thursday, its worst single session in nearly a year. The drop came despite Tesla reporting Q2 deliveries of 480,126 vehicles, well above Wall Street’s consensus estimate. Traders treated the beat as a sell-the-news event. The stock had already run up more than 13% over the four sessions before the report.

A Coincidence Worth Watching, Not Yet a Verdict

None of this proves Burry’s short basket caused the moves. The chip selloff traces to Meta’s compute-leasing plans. Tesla’s drop lines up with a classic sell-the-news pattern around its delivery report, not any catalyst tied to Burry directly.

Still, the timing is notable. Burry’s basket touched nearly every name now under pressure. Caterpillar, his other first-ever short, still trades at a trailing price-to-earnings ratio of 53.

Whether this marks the start of the correction Burry is positioning for, or just a rough week for a handful of stretched valuations, should become clearer as Tesla’s July 22 earnings and the next round of AI capex commentary land.

Источник: BeInCrypto