Apple CEO Tim Cook has nearly doubled his personal investment in Nike, buying millions of dollars’ worth of shares in the sportswear giant a move that traders say signals support for Nike’s ongoing turnaround strategy under CEO Elliott Hill.
Cook, who has served on Nike’s board of directors since 2005 and has been the lead independent director since 2016, purchased 50,000 Nike shares on the open market at about $58.97 each in late December. That purchase, recently disclosed in a regulatory filing, represents roughly $3 million and brings his total holdings to about 105,000 shares.
The announcement brought a boost to Nike’s stock, which rose about 4.6% on the day of the disclosure as investors interpreted Cook’s move as a sign of confidence in the company’s recovery efforts.
Cook’s latest purchase is notable for several reasons. It was the largest open market acquisition of Nike stock by a director or executive in more than a decade, according to market analysts, and comes at a time when the company’s shares have struggled.
Nike has faced persistent challenges over the past year, including weaker profit margins and sluggish sales in key markets such as China. CEO Elliott Hill has been working to refocus the brand’s strategy by emphasising innovation, fresh marketing, and a renewed focus on core performance categories like running and sport, while gradually reducing emphasis on certain lifestyle segments.
Hill’s approach dubbed the “Win Now” strategy also includes efforts to repair relationships with major wholesalers such as Dick’s Sporting Goods, aiming to increase product visibility and accessibility amid stiff competition from emerging brands.
Cook’s stock purchase is widely being interpreted as an endorsement of this turnaround plan. Jonathan Komp, an analyst at Baird Equity Research, described the CEO’s move as a “positive signal” for progress under Hill’s leadership, suggesting that insiders may have growing confidence in the direction Nike is headed.
Another board member, former Intel CEO Robert Swan, also bought Nike shares around the same time, spending about $500,000 on roughly 8,700 shares. That additional insider buying helped reinforce the perception of growing internal confidence, particularly against the backdrop of market uncertainty.
Despite the market’s upbeat reaction to Cook’s purchase, Nike’s broader performance has remained under pressure. Shares were down nearly 13% since early earnings reports in mid-December, and the stock has slid for several years, with 2025 marking a continuation of that trend as the brand seeks to reverse course.
Nike’s recent earnings release presented a mixed picture: while the company managed to beat some expectations, analysts noted persistent headwinds that continue to weigh on investor confidence. Tariff effects, slowing consumer demand abroad and increased competition from rivals have all challenged the company’s performance.
In China, once a key growth driver, sales have been particularly sluggish, prompting the company to rethink its regional strategies. Efforts to strengthen its retail partnerships and reenergise product appeal are ongoing, but market share gains remain elusive.
What Cook’s move means to investors
Insider buying when executives or board members purchase shares is often seen by investors as a vote of confidence in a company’s future prospects. In Cook’s case, it’s especially high-profile because of his role at Apple and his long tenure guiding Nike through strategic decisions, including advising on leadership appointments.
Cook’s relationship with Nike goes beyond stock ownership. He has advised the company on strategic decisions in the past, and his ongoing involvement on the board underscores a long-standing connection between one of the world’s most influential tech leaders and one of its most iconic sportswear brands.
For the market, Cook’s purchase could be interpreted as encouragement for other investors to reconsider Nike’s potential, particularly if the “Win Now” strategy begins to yield clearer results in sales and profitability.
While a single insider purchase does not change the fundamentals of a business, it can influence sentiment. Analysts and investors will be watching Nike’s performance in the coming quarters to see whether the company’s strategy under Hill starts to translate into stronger growth, improved margins and a sustained turnaround.
In the meantime, Cook’s move nearly doubling his stake and signalling confidence at a challenging time has given the company a visible boost heading into the new year, setting an important tone for how stakeholders view Nike’s prospects amid a broader period of industry competition and change. (Reuters)
