5 Most Undervalued Quality Stocks To Buy According To Hedge Funds

3. Nike Inc (NYSE:NKE)

Number of Hedge Fund Investors: 69

Morgan Stanley earlier this month added Nike Inc (NYSE:NKE) in its list of top quality growth stocks poised to outperform this year.

As of the end of the third quarter of 2023, 69 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Nike Inc (NYSE:NKE).

Ensemble Capital Management stated the following regarding NIKE, Inc. (NYSE:NKE) in its fourth quarter 2023 investor letter:

“NIKE, Inc. (NYSE:NKE) (2.79% weight in the Fund): More speculatively, we believe that in the years ahead Nike will be able to use generative AI to allow their customers to craft custom shoe designs. Nike already offers Nike By You, their custom shoe design service. But one of the amazing things about generative AI is its ability to create entirely novel and realistic images based on very limited information entered by the user. For instance, today the DALL-E AI offered by OpenAI can be prompted with statements such as “create a Nike shoe design inspired by the work of the painter Van Gogh.” By empowering everyday people to create novel concepts based on their ideas alone and without any design expertise, Nike can create entirely new, premium products in a way never before seen.”