Where Will Nike Stock Be in 3 Years?
The majority of the investing community most likely wants to quickly put 2022 in the rearview mirror, as it has been a terrible one for stocks. The broad S&P 500 index is down 18% on the year, a negative development that might turn investors away from owning stocks for a while. This would be the wrong approach, in my opinion, as buying shares in outstanding companies and holding for the long term is a proven strategy at building wealth.
Nike (NYSE: NKE) is one such enterprise. Despite some near-term headwinds, it has a bright future as we look three years down the road. Here's why.
Nike just posted a strong quarter, with revenue up 17% year over year to $13.3 billion and diluted earnings per share (EPS) of $0.85 (up 2%), both of which exceeded Wall Street analyst forecasts.
Source Fool.com
