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Burry Shorts Caterpillar Amid AI Hype | Business and Finance News
Description
Michael Burry, the legendary bear who predicted the housing crash, is now betting against Caterpillar—shorting it at $1,060.98—calling the AI hype-driven rally overextended. He’s also shorting Nvidia, Tesla, Applied Materials, and the semiconductor ETF, warning that soaring valuations, especially Caterpillar’s 30-year high price-to-sales ratio, signal an impending correction. Despite Caterpillar’s 86% gain this year fueled by global AI infrastructure spending, Burry sees the surge as unsustainable and a precursor to a market downturn.
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