Investor Michael Burry, who recently warned of an AI bubble, recently disclosed that he is buying the dip in some of the most beaten-down technology stocks he sees as bargains.
He added to his position in companies including Alibaba (NYSE:BABA), Adobe (NASDAQ:ADBE), PayPal (NASDAQ:PYPL), and Veeva Systems (NASDAQ:VEEV).
Alibaba Burry recently added to his position in Alibaba, the Chinese juggernaut whose ADR has dropped by over 40% from its highest point last year.
In contrast, Amazon (NASDAQ:AMZN), its American equivalent, has soared, with its market capitalization standing at $2.56 trillion.
Alibaba's stock continued its strong downtrend in May when the company announced a sharp decline in its profitability as it continued boosting its AI investments.
