Nike shares moved higher after news broke that Apple CEO Tim Cook purchased roughly $3 million worth of Nike stock, a rare and closely watched insider move. Cook has been a long-standing board member at Nike, but large personal share purchases by globally recognized executives are uncommon and often carry symbolic weight. Markets interpreted the buy as a quiet but powerful signal of confidence at a time when Nike has been under pressure from slowing consumer demand, inventory challenges, and tougher competition across athletic wear.

The timing added to the impact. Nike is in the middle of a strategic reset, focusing on streamlining its product lineup, improving supply chains, and rebuilding momentum in key markets such as North America and China. While one purchase does not change earnings forecasts or sales trends overnight, it can shift sentiment. Cook’s move helped remind investors that leadership conviction still matters, especially when a brand is working to regain its footing and re-earn market trust.