Infamous investor Michael Burry of “The Big Short” has bet against Apple (AAPL), according to an SEC filing.
During the first quarter, Burry, a hedge fund investor who is known for predicting and profiting from the housing bubble and subprime mortgage crisis by betting against collateralized debt obligations or CDOs during the mid 2000s.
The hedge fund owned bearish put options against 206,000 Apple shares as of March 31. While the Macbook and iPhone manufacturers’ stock price has nearly quadrupled since 2019, Apple’s stock has fallen by 16% this quarter alone and 11.8% during the past month.
Burry warned last June that the markets had created the “greatest speculative bubble of all time in all things” and retail investors who sunk their money into the popular meme stocks and crypto were facing the “mother of all crashes.”
“Watch profit margins fall, and then price/sales ratios,” Burry wrote. “Early in an inflation, pricing power runs ahead of sticky wages/supply contracts. Inflation laughs last, needs not peak but once.”
Apple Short (Sell) Enter at: 138.20 T.P_1: 132.13 T.P_2: 124.50 T.P_3: 116.76 T.P_4: 106.26 S.L: 155.30
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