Palantir (PLTR) Stock: Michael Burry Says It Could Fall 75% From Here

TLDR

• Michael Burry argues Palantir’s market cap of ~$432 billion could collapse below $100 billion
• Burry says Palantir’s deferred revenue ratio of 32% mirrors consulting firm Accenture, not software peers like Salesforce
• One customer represents 27% of Palantir’s $1.49 billion in accounts receivable, while contributing less than 10% of revenue
• Palantir stock fell 6% after Burry’s post on Sept. 2, then jumped 7.7% the next day on a new PwC AI partnership
• Palantir reported 93% year-over-year revenue growth last quarter and raised its full-year guidance

Michael Burry is back on Palantir. On Sept. 2, the investor behind The Big Short renewed his bearish case against Palantir Technologies (PLTR), warning that its roughly $432 billion market cap could eventually fall below $100 billion.

Palantir Technologies Inc., PLTR

That is a drop of more than 75% from current levels.

Burry’s argument is not about fraud. Every number he cites comes directly from Palantir’s own filings. His case is a reclassification argument: he believes Palantir earns and collects revenue more like a consulting firm than a software company, and therefore should not trade at a software valuation.

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