Apple CEO Tim Cook Just Gave Nike Investors 3 Million Reasons to Cheer

• Apple CEO Tim Cook has been a subordinate of Nike's committee of directors for 2 decades.

• Cook conscionable made 1 of his largest open-market purchases of Nike stock.

• This comes arsenic Nike attempts a bold turnaround plan.

• 10 stocks we similar amended than Nike ›

It's been pugnacious sledding for the iconic sports apparel institution Nike (NYSE: NKE), which has seen its banal shed astir 19% this twelvemonth and implicit 57% successful the past 5 years. Retail brands similar Nike person been challenged by rising contention successful the space, much price-sensitive consumers, and macro challenges, among others.

Nike has besides acknowledged strategical mistakes, including an overemphasis connected online promotions and a deficiency of merchandise innovation. Recently, however, Apple's CEO Tim Cook, who has been connected Nike's committee of directors for astir 2 decades, gave Nike investors 3 cardinal reasons to cheer.

Securities and Exchange Commission (SEC) filings precocious revealed that Cook purchased 50,000 shares of Nike astatine an mean terms of $58.97 per share, totaling astir $3 million. Cook made the purchases connected the unfastened market, and the determination astir doubles his involvement successful the company. According to MarketWatch, these purchases are besides Cook's archetypal marketplace buys since 2005, not including equity-based compensation oregon purchases associated with derivatives.

Insider buys bespeak bullishness, and shares jumped aft the SEC filings were made public. As the CEO of Apple, Cook possesses keen concern acumen and carries much designation than the emblematic committee member, truthful it makes consciousness that his purchases are being received positively. They besides travel arsenic Nike is attempting a ample turnaround program that has struggled to summation momentum frankincense far.

Nike precocious reported net results for the 2nd 4th of fiscal twelvemonth 2026. The existent net results came successful beardown erstwhile the institution reported $0.53 net per stock connected gross of $12.4 billion, some of which came successful up of Wall Street estimates. However, the banal got crushed aft absorption delivered disappointing guidance, particularly arsenic it pertains to its concern successful China, which is viewed arsenic a cardinal marketplace for the company.

During the company's net call, Nike CFO Matthew Friend told analysts that headwinds successful Greater China and challenges with Nike's Converse marque are expected to persist for the remainder of its fiscal twelvemonth 2026. Tariffs are different headwind impacting the company.

Nike is guiding for gross successful the 3rd fiscal 4th to diminution successful the debased single-digit percent range, with show successful China and Converse akin to that successful the 2nd quarter. Nike's CEO Elliott Hill, who was pulled retired of status to pb the institution toward the extremity of 2024, described the company's turnaround program arsenic being successful the "middle innings."