Apple CEO Tim Cook's Share Purchase Sends Nike Stock Higher [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
showed Apple ( NASDAQ:AAPL ) CEO and Nike director Tim Cook bought 50,000 shares of Nike Class B stock at an average price of $58.97, totaling roughly $2.9 million. Cook, who has sat on Nike's board since 2005, now owns just over 105,000 Nike shares, the filing said. Warning! GuruFocus has detected 4 Warning Sign with NKE. Is NKE fairly valued? Test your thesis with our free DCF calculator. The move helped reverse some after-hours weakness that had followed slower demand in certain markets and a softer earnings showing, market participants said. Investors often interpret insider buys as a signal of confidence, though such purchases may not predict future performance. Trading volumes in early sessions ticked higher as the news circulated, with brokers noting the transaction attracted attention given Cook's profile. Nike did not immediately respond to a request for comment. Apple declined to comment through its investor relations contact. The development may renew focus
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