Billionaire investor Bill Ackman has likened Amazon, Meta Platforms, and Microsoft to buying Berkshire Hathaway in 2000, arguing they are undervalued old-fashioned companies left behind by the AI-driven market. Ackman noted that just as Berkshire traded at its lowest valuation during the dot-com boom before dramatically outperforming the S&P 500 over the next decade, these three tech giants now trade at rarely seen forward price-to-earnings ratios of 28, 22.5, and 18 respectively despite strong revenue growth. He believes their massive capital spending on AI infrastructure is a smart long-term move that should be applauded, not booed, and that their durable competitive advantages will ensure earnings power. Ackman expects their stock performances to modestly exceed the market average over the next decade as earnings grow and valuations expand.
Berkshire Hathaway Inc
Meta Platforms Inc.
