Is Now the Right Time to Buy Nike Stock?
Nike's (NYSE: NKE) stock tumbled 13% on Sept. 30 in response to its latest earnings report. In the first quarter of fiscal 2023, which ended on Aug. 31, the athletic footwear and apparel giant's revenue rose 4% year over year (10% in constant currency terms) to $12.7 billion, which beat analysts' estimates by $140 million. Nike's business has remained resilient during previous downturns.