Where Will Nike Stock Be in 3 Years?
Nike (NYSE: NKE) shares have kept pace with the market over the last several years. Since early 2020, just before the start of the pandemic, the stock has risen 25%, compared to the 22% increase for the S&P 500. Shareholders have to be happy with that performance, given all of the volatility around consumer spending, inflation, and input costs during that time.
The footwear and apparel giant is aiming for a return to its more usual growth pattern in 2023 with potentially higher profitability ahead. Let's look at where those trends might push the stock over the next several years and why investors might want to hold on through that time period.
Nike is in the consumer-discretionary industry, which may make it sensitive to the weak spending patterns that typically come with a recession. The good news is the company isn't seeing the type of flashing warning signs that might indicate such a slowdown is ahead in 2023.
Source Fool.com
