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NIKE, Inc. (NKE) Could Be A DICK’S Partner, Says Jim Cramer

We recently published 14 Latest Stocks on Jim Cramer’s Radar. NIKE, Inc. (NYSE:NKE) is one of the stocks Jim Cramer recently discussed.

NIKE, Inc. (NYSE:NKE)’s shares are flat year-to-date but benefited tremendously from an earnings report in June. The stock rose by 15% after the report saw its $11.10 billion in revenue and $0.14 in EPS beat analyst estimates. Cramer’s previous comments about NIKE, Inc. (NYSE:NKE) have wondered whether the underperformance in the retail sector, and particularly in On Holdings’ shares, could mean that the ongoing turnaround at the firm is struggling. This time he discussed NIKE, Inc. (NYSE:NKE) in the context of DICK’S acquiring Foot Locker:

“Well now, people are saying that you know what, they have the critical mass to be able to, have some buying power. Like maybe they can even go to Nike and say look, this is what we want. Now, I think that Nike’s more of a partner with DICK’S sports. . .”

Costi Iosif / Shutterstock.com

Here is how Cramer linked the performance between NIKE, Inc. (NYSE:NKE) and On Holdings:

“A lot of the apparel stocks are down off of Tapestry. I’ve got to tell you, I mean Ralph Lauren is too. But the one that I’ve been watching is On Holding. I thought On Holding had a good quarter. I’ve been either disabused of that notion or perhaps I’ve been too bullish about these guys. If ONON is not doing as well, then you have to start thinking about Nike again. Now I think Nike, Elliot Hill, clearly doing a fantastic job. I was hoping they’d take out more costs, because everybody needs to take out more costs, but as these others go down, I have to wonder whether Nike isn’t really back.”

While we acknowledge the risk and potential of NKE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NKE and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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