Jim Cramer Insisted Recent AI Chip Selloff Wasn’t A Bottom & Discussed These 17 Stocks 

11. Nike Inc. (NYSE:NKE)

Number of Hedge Fund Holdings in Q1 2026: 71

Athletic apparel giant Nike Inc. (NYSE:NKE) is a stock that Jim Cramer has shifted his opinion on in 2026. Throughout the second half of 2025, the CNBC TV host defended the firm against detractors and kept the faith in CEO Elliott Hill. Nike Inc. (NYSE:NKE)’s shares are down by 42% over the past year and by 32% year-to-date. Recently, Truist discussed the firm on July 3rd. It reiterated a Buy rating and a $47 share price target for the firm. Truist’s coverage came after Nike Inc. (NYSE:NKE)’s fiscal fourth quarter and full year earnings report. The results saw the firm post $11 billion in revenue and $0.20 in earnings per share to beat analyst estimates of $10.85 billion and $0.12. Cramer wasn’t impressed by the results as he grew tired of Nike Inc. (NYSE:NKE) not delivering a breakout quarter:

“We’re selling it. Yeah, because I said, this was the quarter, it was make or break. And this was a nothing quarter. And they guided for two more nothing quarters. I used, my ex-wife Karen Cramer’s rules, I said. . .if you went and got me a soft pretzel and a diet coke right now, and I sold Nike while you were doing that. . .would you buy it back? No.”

Matrix Asset Advisors discussed NIKE, Inc. (NYSE:NKE) in its Q1 2026 investor letter:

“We also started a partial position in NIKE, Inc. (NYSE:NKE), a premier athletic shoe and sports apparel company. The company’s share price has fallen sharply due to weak sales in China, a strategic misstep toward direct-to-consumer sales that has hurt long-standing relationships with wholesale partners, and competition from newer brands. After several years of poor results, the company brought in a new CEO in 2024 to repair its relationships with global retailers and restore its image as a sports-focused company. The company has cautioned that there are ongoing challenges from tariffs, consumers buying lower-cost alternatives, and high inventory levels. The stock is down more than 65% from its 2021 high of $179, as its earnings declined from $3.56 per share to an estimated $1.55 in the year ending 8/26. Our interest was piqued when we saw significant insider buying of stock at prices below $60. The stock has pulled back from our initial buys, and when cash is available, we expect to continue to slowly add to our position in the company. We believe the turnaround at Nike will take time, but the risk/reward at the current price is very attractive.”