Closely followed investor Bill Miller said Wednesday that the stock market has "shifted decisively" towards value plays, as the Federal Reserve looks to tighten monetary policy to get inflation under control. "[The market] has shifted to value and I think it has a lot more to run, especially if [interest] rates continue to rise," the founder, chairman and CIO of Miller Value Partners told CNBC. In terms of particular stocks, Miller pointed to Tupperware (NYSE:TUP) as a value play with a "capital-light" business model. He also highlighted Meta Platforms (NASDAQ:FB) as a potential opportunity, given that the stock's recent sell-off has created a more attractive valuation. Miller also pointed to Amazon (NASDAQ:AMZN) as a good prospect, noting growth in its AWS and advertising business. Meanwhile, he argued that Alibaba (NYSE:BABA) provides a value bet as well, given its growth prospects and the way its shares have been beaten down by
