Michael Burry expanded short positions in Micron Technology, Palantir Technologies, Nebius Group and the iShares Semiconductor ETF, while former hedge fund manager Martin Shkreli disclosed a separate Micron short after previously endorsing the stock. Micron and SanDisk shares fell about 1.5% to 2% in early premarket trading Thursday, extending a second day of weakness across memory stocks after strong gains. Investors are assessing whether AI-related demand and pricing can support the current cycle as additional production, including from Chinese supplier CXMT, eventually outpaces demand. Micron recently reported record fiscal third-quarter revenue of $41.46 billion and guided for about $50 billion in fiscal fourth-quarter revenue, with gross margin near 86% and non-GAAP earnings of about $31 per share. Its September 30 report is expected to address pricing, margins, high-bandwidth memory demand and the fiscal 2027 outlook. Samsung has begun commercial HBM4 shipments using a 4nm logic base die, while SanDisk’s latest report included sharp revenue growth and a $14 billion share repurchase authorization. Burry said the shortage could unwind within two years, although Shkreli said a near-term decline would be surprising and industry executives expect meaningful new capacity may not arrive until 2028 or 2029.