New York/Mumbai: Apple Inc Chief Executive Tim Cook has made a rare personal investment in Nike Inc, acquiring roughly $3 million worth of Nike shares — a move that has spurred a noticeable uptick in the sportswear maker’s stock and drawn fresh market attention to its turnaround strategy.
According to a Securities and Exchange Commission filing, Cook purchased 50,000 Class B shares on December 22 at an average price of about $58.97 per share, bringing his total holdings to approximately 105,000 shares, now valued at nearly $6 million.
The purchase represented the largest open-market stock buy by a Nike board member or executive in over a decade, according to industry analysts, and came on the heels of a disappointing earnings print that saw Nike’s stock under pressure.
Market reaction was swift: Nike shares climbed more than 4.5% in the session following the disclosure, with traders interpreting the move as a vote of confidence from one of the company’s most prominent directors. Cook has served on Nike’s board since 2005 and has been its lead independent director since 2016, deepening his engagement with the brand beyond his Apple role.
Analysts say the timing and scale of Cook’s purchase underscores internal optimism about Nike’s strategic repositioning under CEO Elliott Hill, who has emphasised revitalising product innovation, marketing and retailer relationships to restore growth after several quarters of sluggish performance, particularly in China.
The insider buying trend was further bolstered by Nike board member Robert Swan, who also disclosed a personal purchase of about $500,000 in shares during the same period, reinforcing confidence among investors.
While Nike continues to confront competitive headwinds and cyclical demand shifts, Cook’s high-profile investment — and the subsequent stock reaction — highlights how insider actions can shape market sentiment in sectors beyond technology, even as broader indices navigate holiday-season volatility.