Could Burry Be Right about $AAPL?
Michael Burry Is Shorting Apple
Hedge fund Scion Asset Management
owned 206,000 put options on Apple shares as of the end of Q1. Down more than 22% this year, Apple is no longer the world's most valuable company, as it has recently lost its top position to oil giant Saudi Aramco. At the same time that it bet against the Cupertino company, Mr. Burry's hedge fund has also added long positions in Alphabet, Meta Platforms, and Discovery.
Last year, the “Big Short” protagonist made the news for disclosing a $530 million
short position in Tesla. At the time, the hedge fund manager said that it had been a quick trade in which he thought that "the options bets were extremely asymmetric, and the media was off by orders of magnitude."