Looks like we have a battle between two legendary investors!

Michael Burry has apparently bet against Berkshire's biggest investment position, Apple $AAPL. Apple makes up 43% of Berkshire Hathaway's investment portfolio and Burry has bet against Apple with 18% of his holdings. Apple has been one of the strongest stocks during the recent sell-off, but let's take a look!

Aside from being the biggest stock in Buffett's portfolio, it is also the largest stock in the S&P 500. This size could be part of the reason Apple has held up so well relative to other tech stocks. Apple has been the best mega-cap performer relative to previous 52wk highs.

Maybe Burry is making a bet against Apple because of its valuation. Taking a look at its relative valuation, Apple has the 3rd slowest revenue growth and the third-lowest price-to-earnings ratio. This seems reasonable, but maybe there is more to it.

Maybe Burry believes Apple won't be able to sustain its current financial strength. For example, Apple's growth is slowing down, dropping from highs above 50% to 8.6%.

In either case, this is going to be a fun story to follow as it develops over the coming quarters.