Famed investor Michael Burry is sounding the alarm about the current tech rally, noting that top-performing Nasdaq 100 stocks are outpacing the astronomical gains seen at the peak of the dot-com bubble.
‘Party Like It’s 1999’
In a pos ton X on Wednesday, sharing data from BTIG and Bloomberg, “The Big Short” investor pointed out the staggering performance of SanDisk Corp. (NASDAQ:SNDK) compared to historic market leaders.
During the late 1990s tech boom, Qualcomm Inc. (NASDAQ:QCOM) was the ultimate high-flyer, boasting a peak rolling 52-week return of 2,620%.
Today, SNDK has dwarfed that milestone, skyrocketing an unprecedented 3,960% between May 2025 and May 2026. Referencing the data, Burry noted that “SNDK is beating that by 1300bps.”
Ironically, he also pointed out that SNDK was the second-best performing stock back in 1999, rising 581% at the time.
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