Micron Technology led Monday's trading volume on Wall Street, closing down 2.25% with a massive $417.73 billion in turnover. Legendary investor Michael Burry, famed for the film "The Big Short," has expanded his bearish bets on the semiconductor sector while maintaining short positions in Tesla and Palantir. On July 25, Burry disclosed his latest portfolio moves on Substack, including shorting Micron at $933.86 per share and adding to his Nvidia short position at $210.28. He also increased his short position in the Philadelphia Semiconductor ETF at $535.83, describing it as a "large position" in his portfolio when combined with put options.
Nvidia fell 4.99% to close, with $304.09 billion in trading volume. Michael Burry's bearish stance on the sector intensified as he revealed on Substack on July 25 that he added to his short position in Nvidia at $210.28. Burry explained his rationale, stating that much of the current demand for Nvidia's products is not driven by real end customers. He argued that related financing arrangements are off-balance-sheet and undisclosed, suggesting that future revenue is "largely financed through circular arrangements."
SanDisk dropped 11.02%, recording $270.71 billion in turnover, as the memory storage sector faced a broad selloff on Monday.
AMD declined 5.17% to close, with $155.55 billion in trading volume. Wedbush Securities released a research note on Monday maintaining an "outperform" rating on AMD while significantly raising its price target. The firm cited strong growth momentum in AMD's data center business, both in CPU and GPU segments, and demand boosts from newly established AI partnerships. Wedbush expects AMD's data center revenue to accelerate from the second half of 2026 into 2027. This aligns with signals from AMD CEO Lisa Su, who recently expressed confidence in achieving annual data center AI revenue of tens of billions of dollars by 2027, driven by robust demand for the "Helios" platform and MI450 series GPUs. Additionally, Mizuho Securities raised its target price for AMD from $615 to $625 on Monday.
Alphabet (GOOGL) rose 2.13%, with $91.36 billion in trading volume. Reports indicate that the White House Office of the National Cyber Director distributed a framework draft to OpenAI, Anthropic, and Google about two weeks ago. The three companies jointly submitted revision suggestions. In early June, President Trump signed an AI-related executive order requiring the completion of this regulatory framework by August 1. The framework aims to establish standardized processes for managing next-generation high-computing AI models capable of rapidly exploiting network vulnerabilities.
SK hynix fell 7.47%, with $72.27 billion in trading volume. Amid a broad selloff in the chip sector, the stock closed at $143.02 on Monday, marking its lowest closing price since listing and the first time it has fallen below its IPO price. Despite widespread optimism about AI development prospects, investors are still selling off semiconductor stocks that had previously surged. Even news that Nvidia and SK hynix plan to build an AI data center in South Korea with a total capacity exceeding 2 gigawatts failed to lift the stock price.
ASML dropped 5.80%, recording $55.12 billion in trading volume. The stock fell as much as 6.4% during the session to reach an intraday low. Analysts said concerns about ASML's growth prospects for 2026 created short-term volatility in the stock price.
Palantir gained 7%, with $47.31 billion in trading volume. Citigroup analyst Tyler Radke bucked the trend by reiterating a "buy" rating on Palantir, though he cut the price target from $225 to $200. The bank stated that the price target reduction was not due to pessimism. The analyst significantly raised Palantir's earnings forecast for fiscal year 2027, projecting revenue growth of 53% year-over-year, well above Wall Street's consensus estimate of around 45%. Market observers noted that Citigroup's contradictory move of lowering the target while raising expectations reflects Palantir's unique dilemma: fundamental momentum is accelerating, but the valuation is still digesting past bubbles. Palantir is scheduled to report its latest quarterly results after the US market close on August 3.
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