Asset Watch
Thursday, December 7, 2023
When you put it all together, Nike’s healthy technical combined with accelerating fundamentals offers relative value considering its meaningful underperformance of the S&P 500 in 2023.
Tepid sales in China have hampered the company’s top-line performance but Roach noted that direct-to-consumer (DTC) opportunities and favourable year-over-year (YoY) comparisons could make the region’s performance look much better in the months ahead.
So, has Nike entered a new bull market, or will recession fears weigh on the apparel giant when the calendar turns?