[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioa829b87b":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioa829b87b","大空头Michael Burry重拳出击！全面砸重仓做空英伟达与美光，底层逻辑究竟是什么？","\u002Fdoc\u002Fdcioa829b87b","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">电影《大空头》原型\u003C\u002Fspan>Michael Burry\u003Cspan style=\"font-family: DengXian;\">本周在\u003C\u002Fspan>Substack\u003Cspan style=\"font-family: DengXian;\">上披露了最新操作，延续他的一贯风格——在别人最兴奋的地方保持怀疑。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">做空端，他在全面加码。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Burry\u003Cspan style=\"font-family: DengXian;\">增持了\u003C\u002Fspan>MU\u003Cspan style=\"font-family: DengXian;\">、\u003C\u002Fspan>NVDA\u003Cspan style=\"font-family: DengXian;\">、\u003C\u002Fspan>CAT\u003Cspan style=\"font-family: DengXian;\">和\u003C\u002Fspan>iShares\u003Cspan style=\"font-family: DengXian;\">半导体\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">（\u003C\u002Fspan>SOXX\u003Cspan style=\"font-family: DengXian;\">）的空头头寸，同时维持\u003C\u002Fspan>TSLA\u003Cspan style=\"font-family: DengXian;\">、\u003C\u002Fspan>PLT\u003Cspan style=\"font-family: DengXian;\">）和\u003C\u002Fspan>QQQ\u003Cspan style=\"font-family: DengXian;\">的空头不变。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">其中，美光的空单入场价约为\u003C\u002Fspan>1051.87\u003Cspan style=\"font-family: DengXian;\">美元，英伟达约为\u003C\u002Fspan>198.09\u003Cspan style=\"font-family: DengXian;\">美元，\u003C\u002Fspan>SOXX\u003Cspan style=\"font-family: DengXian;\">约为\u003C\u002Fspan>642.8\u003Cspan style=\"font-family: DengXian;\">美元。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">他的核心逻辑很简单：太贵了。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Burry\u003Cspan style=\"font-family: DengXian;\">指出，费城半导体指数目前较\u003C\u002Fspan>200\u003Cspan style=\"font-family: DengXian;\">日均线高出约\u003C\u002Fspan>65%\u003Cspan style=\"font-family: DengXian;\">，这一偏离度仅在\u003C\u002Fspan>2000\u003Cspan style=\"font-family: DengXian;\">年互联网泡沫时期出现过。他警告半导体行业可能面临大幅回调，并将\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">驱动的芯片股狂潮比作当年的\u003C\u002Fspan>dot-com\u003Cspan style=\"font-family: DengXian;\">泡沫。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">针对美光，他补充了一个历史数据：这家公司过去\u003C\u002Fspan>42\u003Cspan style=\"font-family: DengXian;\">年里经历过\u003C\u002Fspan>34\u003Cspan style=\"font-family: DengXian;\">次超过\u003C\u002Fspan>30%\u003Cspan style=\"font-family: DengXian;\">的跌幅。在他看来，\u003C\u002Fspan>HBM\u003Cspan style=\"font-family: DengXian;\">和\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">需求并没有改变存储芯片固有的强周期属性，只是让市场暂时忘记了周期的存在。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">但另一边，他在悄悄买入被市场冷落的东西。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Burry\u003Cspan style=\"font-family: DengXian;\">增持了\u003C\u002Fspan>Flutter Entertainment\u003Cspan style=\"font-family: DengXian;\">（\u003C\u002Fspan>FLUT\u003Cspan style=\"font-family: DengXian;\">）和\u003C\u002Fspan>DraftKings\u003Cspan style=\"font-family: DengXian;\">（\u003C\u002Fspan>DKNG\u003Cspan style=\"font-family: DengXian;\">）的多头头寸，买入价分别在\u003C\u002Fspan>107\u003Cspan style=\"font-family: DengXian;\">美元和\u003C\u002Fspan>26\u003Cspan style=\"font-family: DengXian;\">美元左右。他把这两笔仓位合在一起，作为一套“对抗预测市场”的组合拳。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">他的判断是：目前处于监管灰色地带的预测市场（如\u003C\u002Fspan>Kalshi\u003Cspan style=\"font-family: DengXian;\">、\u003C\u002Fspan>Polymarket\u003Cspan style=\"font-family: DengXian;\">）迟早会被纳入监管和税收体系。届时合规成本上升，反而会利好已经完成市场整合、具备规模效应的传统体育博彩平台。他认为\u003C\u002Fspan>DraftKings\u003Cspan style=\"font-family: DengXian;\">正处于经营拐点，\u003C\u002Fspan>Flutter\u003Cspan style=\"font-family: DengXian;\">则拥有被低估的规模优势。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">此外，他还增持了\u003C\u002Fspan>Molina Healthcare\u003Cspan style=\"font-family: DengXian;\">（\u003C\u002Fspan>MOH\u003Cspan style=\"font-family: DengXian;\">）的多头头寸。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">总结一下\u003C\u002Fspan>Burry\u003Cspan style=\"font-family: DengXian;\">现在的姿态：\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">他对\u003C\u002Fspan>AI\u003Cspan style=\"font-family: DengXian;\">相关的硬件和半导体板块，态度是明确的看空。理由不是这些公司业务出了问题，而是估值已经到了历史极端水平。与此同时，他把从科技股减下来的仓位，配到了两个方向——一是被市场抛弃的体育博彩股，二是医疗健康这类防御性资产。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">这和他的历史风格一致：在别人最兴奋的地方保持怀疑，在别人最悲观的地方寻找机会。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FN\u002FNVDA\u002FNVDA.jpg","2026-07-25T02:09:12","2026.07.25","2026\u002F07\u002F25",47699,[22],"NVDA","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cimg style=\"display:block;margin-left:auto;margin-right:auto;\" src=\"\u002Fimg\u002Fstockwewebfiles\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" target=\"_blank\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"edit":87,"editVideo":88,"courseContent":89,"more":90,"buyNow":91,"subscribeNow":92,"encoding":93,"paidContent":94},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]