Bill Ackman Warns of Market FOMO, High-Quality Tech Giants May Be Undervalued

BlockBeats News, June 4th, Bill Ackman, Founder of Pershing Square Capital, stated that the current market behavior shows similarities to the 2000 Internet bubble period. Investors are pouring a large amount of funds into hot areas such as chips, semiconductors, and energy, while neglecting high-quality companies with solid fundamentals.

Ackman pointed out that similar to how Berkshire Hathaway was viewed as a "legacy asset" back then, today tech giants like Amazon, Meta, and Microsoft are facing a similar situation. He believes that this market sentiment has led to undervaluation of the mentioned companies, which are actually his core holdings.

Ackman revealed that he took a position in Microsoft after the stock price dropped following the February 2026 earnings report, considering it a significant beneficiary of the artificial intelligence wave. He emphasized that in the AI era, companies face a significantly increased risk of disruption, and investors must reassess the long-term competitiveness of their business models.

Regarding the software industry, Ackman stated that companies that fail to timely integrate AI will face enormous challenges, with particular risks for companies depending on niche markets and high-priced software.

Furthermore, Ackman believed that the valuations of many high-quality companies in the market a month ago were "incredibly low." When discussing potential IPOs, he specifically mentioned SpaceX and OpenAI, stating that the former is close to a monopoly in the low-cost space launch sector, and the latter has an attractive business model but still needs to further explain its capital investment strategy to the market.