Apple CEO Tim Cook is on Nike's board. In what has been seen as a vote of confidence, Cook made a purchase of $1 million of the shoemaker's stock.
Tim Cook has a long-time relationship with shoe and fitness brand Nike that has lasted for two decades. On Friday, the Apple CEO deepened his dealings by buying more Nike stock.
In a filing with the Securities and Exchange Commission, Cook bought 25,000 Nike shares on April 10. At a value of approximately $42.43 apiece, that works out to be a total purchase of $1.06 million.
Cook's previous share purchase took place in December 2025, buying 50,000 shares at a price of $58.97 each, or $2.95 million in total. That purchase doubled Cook's holdings to 105,000 Nike shares, valued at over $6 million.
Cook now owns 130,480 shares of Nike. The value of that stock, based on Tuesday's closing price of $44.20 after getting hammered after earnings on March 31, is $5.7 million.
The drop in Nike's stock price now means that Cook's now-larger holding is worth a little less than it did in December, despite having more shares.
A vote of confidence
Cook's share purchase wasn't the only meaningful trade that took place over the weekend. On April 13, Barrons reports Nike president and CEO Elliott Hill picked up 23,60 shares, valued at approximately $1 million in total.
The purchase of shares were viewed as a vote of confidence in the company by the stock market. The SEC disclosures helped raise the shares after the closing bell on Tuesday, helping increase Nike's price by 2.9% on Wednesday's opening.
Nike's stock price over a six-month period - Image Credit: Google News
While Hill's purchase was significant, so was Cook's in the eyes of investors, especially after losing value in a short space of time.
Cook has sat on the board of Nike since 2005, and has an advisory role assisting co-founder Phil Knight and chairman Park Parker. He has also worked with employees on retail store design and assisted in Nike's digital revamp in China.
In 2024, Cook said that Nike needed to make changes after a lengthy struggle. He advised on the return of Elliott Hill as CEO, who is currently working to turn around the company.
