Michael Burry says he's shorting Caterpillar for the first time after it nearly

Michael Burry said Tuesday he has placed a bearish wager against Caterpillar, believing the construction-equipment maker has become one of the market's most overvalued beneficiaries of the artificial intelligence investment boom.

The famed investor said he shorted Caterpillar shares at $1,060.98, alongside new bearish positions in Nvidia, Applied Materials, Tesla and the iShares Semiconductor ETF (SOXX), as he prepared for what he believes is an increasingly overextended rally in AI-linked stocks.

"Caterpillar jumped out at me," Burry wrote in a Tuesday SubStack post. "I have never shorted Caterpillar. It has always done great for me on the long side in the past."

Caterpillar shares just capped off the first half of 2026 with an 86% gain, making the construction equipment giant one of the best-performing stocks in the S&P 500 this year as investors increasingly embraced it as a proxy for the global AI infrastructure buildout.

Burry said Caterpillar's stock valuation has reached levels that caught his attention. He shared a chart showing Caterpillar's price-to-sales ratio climbing to the highest level in at least three decades at the same time as the stock surged to record highs

Fuente original: CNBC Top News (https://www.cnbc.com/2026/06/30/burry-shorts-caterpillar-after-it-nearly-doubled-in-ai-rally-of-2026.html)