The 72-year-old, who had a hand in hiring his successor, is confident that the former Everton manager will turn things around at Old Trafford if allowed enough time
The Red Devils have struggled in their first season without the 72-year-old at the helm, with the former Everton boss on course to miss out on qualification for next season's Champions League as well as being 2-0 down to Olympiakos in this year's competition.
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Speaking at a gathering in Los Angeles, he declared: "They will be all right. It's early days and there have been a lot of changes.
"[Moyes] needs time. I was there for 27 years so, with a new manager, it takes time but they'll be OK."
United are in seventh place in the Premier League, 12 points behind fourth-placed Manchester City having played one game more.
Ferguson cemented his place as the most successful British manager in history over his 27-year spell at Old Trafford, winning 13 Premier League titles and two Champions Leagues, among others.