(NYSE: NKE) has certainly been a household name for a long time. And it has rewarded investors. Shares have increased nearly 12-fold in the last two decades, a gain that crushes the S 500 by a wide margin.

However, it hasn't been fun for shareholders in recent times, as the stock has underperformed the major index in the last five years. And as of this writing, Nike is 42% below its peak price. This might have put the stock on your watch list.

But before investing in this top apparel and footwear stock, it's best to understand the bull and bear cases as we look at 2024.

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Source Fool.com