Apple CEO Tim Cook has signaled strong confidence in Nike by purchasing nearly $3 million worth of the company’s shares, according to a regulatory filing with the US Securities and Exchange Commission reported by Reuters. The move comes shortly after Nike reported a 13% decline in its quarterly results, offering a notable vote of confidence at a challenging time for the sportswear giant.
The filing shows that Cook acquired 50,000 shares at an average price of $58.97 per share. As of December 22, he held approximately 105,000 Nike shares, effectively doubling his stake in the company.
Following the disclosure, Nike’s stock rose 4.6% on Wednesday, reflecting renewed investor optimism. The surge was particularly significant for the brand as it navigates sluggish sales in China and mounting pressure from higher tariff-related costs.
Market watchers highlighted the rarity of the transaction. Jonathan Komp, an analyst at Baird Equity Research, noted that this was the largest open-market stock purchase by a Nike director or executive and the biggest insider buy at the company in more than a decade. Komp described Cook’s move as a positive signal for the progress under Nike CEO Elliott Hill and the company’s “Win Now” strategy.
Hill has been focused on reigniting innovation and rebuilding relationships with wholesale partners as Nike works to regain its competitive edge and reclaim market share.
Cook’s investment is also deeply rooted in his long-standing association with the brand. He has served on Nike’s board since 2005 and became lead independent director following co-founder Phil Knight’s retirement in 2016. A familiar sight in Nike apparel during public appearances, Cook’s latest share purchase reinforces his long-term commitment to the company’s future.
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