--- title: "Michael Burry Bets Against the Memory Boom: These ETFs Could Be Exposed if He’s Right" type: "News" locale: "en" url: "https://longbridge.com/en/news/299813383.md" description: "Michael Burry is doubling down on his bearish thesis regarding the semiconductor sector, specifically betting against the memory chip boom. Citing rising Chinese supply and overflowing inventories, he has increased short positions in Micron Technology, NVIDIA, Applied Materials, Palantir, Nebius Group, and the iShares Semiconductor ETF (SOXX). Burry argues that as manufacturers shift capacity back to conventional DRAM from high-bandwidth memory for AI, supply-demand dynamics could reverse, potentially impacting broad semiconductor ETFs like SOXX and SMH." datetime: "2026-09-23T01:40:49.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/299813383.md) - [en](https://longbridge.com/en/news/299813383.md) - [zh-HK](https://longbridge.com/zh-HK/news/299813383.md) generator: "portal-rs" --- # Michael Burry Bets Against the Memory Boom: These ETFs Could Be Exposed if He’s Right **Michael Burry** is doubling down on his bearish semiconductor thesis just as fresh warnings raise questions about how long the memory shortage can last. In a recent Substack post, which he also highlighted on X, Burry cited **Acer** CEO **Jason Chen’s** comments that memory inventories are building and Chinese suppliers are releasing more volume into the market. Chen expects additional Chinese capacity to eventually pressure prices, with the impact becoming more visible from late 2027. > "Regarding memory chips—which have seen the sharpest price surges this year—Chen observed that while many industry players continue to publicly predict price increases extending through the end of next year, the reality is that inventories are actually overflowing. Suppliers from… > > — Cassandra Unchained (@michaeljburry) September 22, 2026 Burry said the developments align with his view that the conventional memory shortage was partly created by manufacturers shifting capacity toward high-bandwidth memory (HBM) to meet surging AI demand. As production of conventional DRAM ramps back up, he believes the supply-demand balance could shift. According to an X post by Michael Burry Stock Tracker, Burry has shorted **Micron Technology** and the **iShares Semiconductor ETF**, while also holding bearish positions in **NVIDIA Corp**, **Applied Materials**, **Nebius Group** and **Palantir Technologies Inc**. ## **SOXX Has Direct Exposure to Burry’s Trade** SOXX offers a particularly direct way to track the semiconductor trade Burry is challenging. Micron accounts for 8% of SOXX, Nvidia represents 7.5%, while Applied Materials has a 3.7% weight. That means a reversal in the semiconductor cycle could have implications beyond individual memory stocks, particularly for broad semiconductor ETFs. ## **China Adds Another Supply Threat** The China factor makes the memory debate more complicated. **ChangXin Memory Technologies** (CXMT) recently said its fifth-generation memory platform had entered mass production. The company is also expanding its manufacturing footprint as China seeks to increase domestic memory production. Meanwhile, **Samsung**, **SK Hynix Inc** and Micron have redirected capacity toward HBM to capitalize on AI infrastructure spending. That has created a delicate equation: AI demand is rising rapidly, but so is the industry’s incentive to add capacity. ## **The ETF Question** The key question for semiconductor investors is no longer simply whether AI demand remains strong. It is whether new memory supply can grow faster than AI-driven demand. If that happens, Burry’s trade could gain another data point and semiconductor ETFs such as SOXX and **VanEck Semiconductor ETF** could find themselves caught between the AI boom and the semiconductor cycle that follows it. ### Related Stocks - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [NBIS.US](https://longbridge.com/en/quote/NBIS.US.md) - [AMAT.US](https://longbridge.com/en/quote/AMAT.US.md) - [PLOO.US](https://longbridge.com/en/quote/PLOO.US.md) - [NVDS.US](https://longbridge.com/en/quote/NVDS.US.md) - [NVDU.US](https://longbridge.com/en/quote/NVDU.US.md) - [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [PLTU.US](https://longbridge.com/en/quote/PLTU.US.md) - [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [NVD.US](https://longbridge.com/en/quote/NVD.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md) - [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md) - [PLTG.US](https://longbridge.com/en/quote/PLTG.US.md) - [PTIR.US](https://longbridge.com/en/quote/PTIR.US.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md) - [USD.US](https://longbridge.com/en/quote/USD.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SSG.US](https://longbridge.com/en/quote/SSG.US.md) - [SOXS.US](https://longbridge.com/en/quote/SOXS.US.md) - [MUYY.US](https://longbridge.com/en/quote/MUYY.US.md) - [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md) - [PLT.US](https://longbridge.com/en/quote/PLT.US.md) - [PLTA.US](https://longbridge.com/en/quote/PLTA.US.md) - [PLTD.US](https://longbridge.com/en/quote/PLTD.US.md) - [PLTW.US](https://longbridge.com/en/quote/PLTW.US.md) - [PLTY.US](https://longbridge.com/en/quote/PLTY.US.md) - [PLTZ.US](https://longbridge.com/en/quote/PLTZ.US.md) - [PLYY.US](https://longbridge.com/en/quote/PLYY.US.md) - [NVDB.US](https://longbridge.com/en/quote/NVDB.US.md) - [NVDG.US](https://longbridge.com/en/quote/NVDG.US.md) - [NVDO.US](https://longbridge.com/en/quote/NVDO.US.md) - [NVDW.US](https://longbridge.com/en/quote/NVDW.US.md) - [NVYY.US](https://longbridge.com/en/quote/NVYY.US.md) - [NYYY.US](https://longbridge.com/en/quote/NYYY.US.md) - [DIPS.US](https://longbridge.com/en/quote/DIPS.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [NEBX.US](https://longbridge.com/en/quote/NEBX.US.md) - [NBIG.US](https://longbridge.com/en/quote/NBIG.US.md) - [NBIL.US](https://longbridge.com/en/quote/NBIL.US.md) - [NBIZ.US](https://longbridge.com/en/quote/NBIZ.US.md) - [AMA.US](https://longbridge.com/en/quote/AMA.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [07388.HK](https://longbridge.com/en/quote/07388.HK.md) - [07788.HK](https://longbridge.com/en/quote/07788.HK.md) - [09388.HK](https://longbridge.com/en/quote/09388.HK.md) - [SMH.UK](https://longbridge.com/en/quote/SMH.UK.md) - [QXO.US](https://longbridge.com/en/quote/QXO.US.md) - [BBW.US](https://longbridge.com/en/quote/BBW.US.md) - [SFM.US](https://longbridge.com/en/quote/SFM.US.md) - [SSNGY.US](https://longbridge.com/en/quote/SSNGY.US.md) - [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [QXO-B.US](https://longbridge.com/en/quote/QXO-B.US.md) - [SMSN.UK](https://longbridge.com/en/quote/SMSN.UK.md) ## Related News & Research - [3 AI Semiconductor Stocks with More Than 40% Upside and Recent 'Buy' Ratings](https://longbridge.com/en/news/299464643.md) - [Jensen Huang Says AI CEOs May Have 'Ulterior', Maybe 'Political' Reasons For AI Doomsday Warnings: 'Go and Read Between The Lines'](https://longbridge.com/en/news/299637656.md) - [Micron Stock's (MU) AI Lead Is Expanding beyond HBM. I'm Bullish](https://longbridge.com/en/news/299626350.md) - [Micron's (MU) AI Boom Could Outlast the Memory Cycle](https://longbridge.com/en/news/299769666.md) - [Applied Materials (AMAT) Will Invest $5 Billion In An India Semiconductor Hub](https://longbridge.com/en/news/299429688.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**