Tim Cook Doubles Nike Stake with $3M Purchase
Apple's CEO bought 50,000 Nike shares at $58.97, the largest director purchase in over a decade, as the sportswear giant struggles through a turnaround.
Tim Cook is betting on Nike's comeback.
The Apple CEO purchased 50,000 Class B shares of Nike on December 22 at an average price of $58.97, totaling roughly $2.95 million. The buy doubles his stake in the sportswear company to approximately 105,000 shares, now worth over $6 million.
Nike shares jumped 5.5% Wednesday morning on the news.
Largest Director Purchase in a Decade
According to Jonathan Komp, an analyst at Baird Equity Research, Cook's buy represents the largest open market stock purchase by a Nike director or executive—and possibly the largest in more than ten years.
The timing was deliberate. Nike reported disappointing quarterly results on December 18, with weak China sales, declining gross margins, and cautious guidance sending shares down roughly 10%. The stock extended losses to about 13% in the days that followed, sliding from around $69 to a low of $56.99.
Cook bought into that weakness.
A 20-Year Board Relationship
Cook has served on Nike's board since 2005. He currently holds the position of lead independent director and chairs the compensation committee. The two companies share a long history of collaboration, from Apple Watch Nike+ editions to integrated fitness tracking.
But this purchase goes beyond corporate diplomacy. Regulatory filings show Cook personally chose to put nearly $3 million of his own money into Nike at a moment when many investors were heading for the exits.
The Turnaround Bet
Nike has had a rough year, losing about 24% of its value in 2025. CEO Elliott Hill, who took the helm after a multi-decade career at the company, is tasked with reversing years of brand erosion and market share losses to competitors like On Running and Hoka.
The challenges are real. Nike's direct-to-consumer push alienated wholesale partners. Its innovation pipeline has slowed. And China, once a growth engine, has become a drag on results.
But Cook's purchase suggests he sees value others don't. When the CEO of the world's most valuable company puts his own capital on the line, it's worth paying attention.
Other Insiders Buying
Cook wasn't alone. Bob Swan, former Intel CEO and Nike board member, also acquired 8,791 shares, increasing his total stake to 43,293 shares.
Multiple directors buying into post-earnings weakness is typically a bullish signal. Insiders don't always time the bottom perfectly, but they generally know their companies better than outside analysts.
What Comes Next
Nike's stock has stabilized around $60-61 after the initial earnings selloff. The company faces another quarter of tough comparisons, but expectations have now been reset lower.
Whether Hill can execute on the turnaround remains uncertain. But with Apple's CEO doubling down at $59 a share, the bet is that Nike's brand—and its stock—has room to recover.