TechBriefly
  • Tech
  • Business
  • Science
  • Geek
  • How to
  • About
    • About Tech Briefly
    • Terms and Conditions
    • Privacy Policy
    • Contact Us
  • Languages
    • 中文 (Chinese)
    • Dansk
    • Deutsch
    • Español
    • English
    • Français
    • Nederlands
    • Italiano
    • 日本语 (Japanese)
    • 한국인 (Korean)
    • Norsk
    • Polski
    • Português
    • Pусский (Russian)
    • Suomalainen
    • Svenska
No Result
View All Result
TechBriefly
No Result
View All Result
Home Business

Big Short’s Michael Burry Apple bet favors Alphabet, shorts Apple

Michael Burry of Big Short fame bets against Apple and stocks up on Alphabet, Discovery and Meta

by Kaan K.
17/05/2022
in Business, Venture
Reading Time: 2 mins read
Big Short’s Michael Burry Apple bet favors Alphabet, shorts Apple
Share on FacebookShare on Twitter

Last quarter, an SEC filing revealed that Michael Burry Apple bet is against the company, and he loaded up on other equities like Meta, Alphabet, and Discovery.

Scion had only six equities at the end of December. The hedge fund sold off all but Bristol-Myers Squibb in the fourth quarter, bringing in Alphabet, Meta Platforms, and Discovery among other things.

The slew of purchases helped to raise Big Short star’s company Scion’s US equities (excluding options) value by 122 percent to $165 million. The fund’s largest long bets at the end of March were a $22 million position in Bristol-Myers Squibb, a $19 million share in Booking Holdings and Discovery, and a $18 million stake in Alphabet.

Michael Burry Apple bet: Shorts Apple, favors Alphabet

It’s worth noting that Burry predicted Apple would be a stock worthy of Warren Buffett in 1999, about 17 years before the Berkshire Hathaway CEO invested in the firm. Berkshire Hathaway’s stock portfolio contains Apple as the company’s most significant holding, and Buffett recently stated that he boosted his firm’s position during the previous quarter. As of March 31, Burry’s Scion Asset Management had bearish put options on 206,000 Apple shares. The iPhone maker’s stock price has increased by about fourfold since 2019, but it has dropped 16% over this three-month period even though starting the year pretty strong. This could be the cause for Michael Burry Apple bet.

Michael Burry Apple bet: Shorts Apple, favors Alphabet
Michael Burry Apple bet: Shorts Apple, favors Alphabet

He is most recognized for betting against Elon Musk’s Tesla and Cathie Wood’s flagship Ark Innovation fund last year, so Michael Burry Apple bet isn’t something new. He also called and profited from the mid-2000s housing bubble’s collapse, paving the road for meme-stock mania by investing in GameStop, and penning letters to the company’s board.

Last year, Burry named Tesla, GameStop, bitcoin, dogecoin, Robinhood, and the white-hot US housing market as cases of speculative exuberance in financial markets.

Last year, the Scion president issued a dire warning about “the greatest speculative bubble of all time in all things,” urging investors to avoid meme stocks and cryptocurrencies before the “mother of all crashes.”

Scion chief slashed his US stock portfolio down from more than 20 holdings to just six in the third quarter of 2021, cutting its total value (excluding options) from almost $140 million to $42 million. In the fourth quarter, Scion chief swapped three of his remaining six investments, boosting his portfolio’s worth to $74 million at the end of December.

Tags: AlphabetAppleapple bearishapple stockbig shortdiscoverymetamichael burrymichael burry appleshorting

Related Posts

Google employees can now relocate to states with legal abortion

Google employees can now relocate to states with legal abortion

eBay acquires NFT marketplace KnownOrigin

eBay acquires NFT marketplace KnownOrigin

New Apple iPhone lawsuit over battery issues

New Apple iPhone lawsuit over battery issues

Best bear market investing strategies in 2022

Best bear market investing strategies in 2022

Web Stories

Bonus program Meta for creator
Bonus program Meta for creator
How to become a famous author in Bitlife?
How to become a famous author in Bitlife?

POPULAR

How to download all photos and videos from a Telegram chat?
How to

How to download all photos and videos from a Telegram chat?

If you don't know how to download all photos and videos from a Telegram chat, we are going to help...

Read more
All Steam Summer Sale 2022 clues answers

All Steam Summer Sale 2022 clues answers

RCM Loader for Nintendo Switch: What is it, how can you install?

RCM Loader for Nintendo Switch: What is it, how can you install?

Best Tiny Tina’s Wonderlands Stabbomancer build

Best Tiny Tina’s Wonderlands Stabbomancer build

Will Fall Guys be free on Epic Games?

Will Fall Guys be free on Epic Games?

TechBriefly

© 2021 TechBriefly is a Linkmedya brand.

Follow Us

No Result
View All Result
  • Tech
  • Business
  • Science
  • Geek
  • How to
  • About
    • About Tech Briefly
    • Terms and Conditions
    • Privacy Policy
    • Contact Us
  • Languages
    • 中文 (Chinese)
    • Dansk
    • Deutsch
    • Español
    • English
    • Français
    • Nederlands
    • Italiano
    • 日本语 (Japanese)
    • 한국인 (Korean)
    • Norsk
    • Polski
    • Português
    • Pусский (Russian)
    • Suomalainen
    • Svenska

Bonus program Meta for creator How to become a famous author in Bitlife?