Bill Ackman Says META and AMZN Are 'Cheap Stocks' - Amazon.com (NASDAQ:AMZN)

Bill Ackman said Meta and Amazon are “cheap stocks,” arguing that their business models provide durable cash-flow predictability suited to a concentrated, long-term portfolio. Speaking in the context of Pershing Square’s strategy, he emphasized finding the “best businesses in the world” that can survive market disruption and produce high compound returns over the next three to five years. Ackman contrasted this with avoiding what he calls the “new new thing.” He also suggested the market may not be expensive if these dominant firms trade at attractive levels relative to their positions. For performance context in 2026, Amazon (AMZN) was up 8.31% year-to-date, 2.29% over the last month, and 10.55% over the year, closing Monday at $249.99 and up 0.22% overnight. Meta (META) was down 2.16% year-to-date, up 11.89% over the last month, and down 8.30% for the year, closing Monday at $645.85, essentially flat.