Should Growth Investors "Just Do It" and Buy Nike Stock?
Last month, the World Bank drastically cut its global GDP growth expectations for 2022. The Washington, D.C.-based institution is projecting 2.9% global GDP growth this year. For context, this is just half of the 5.7% global GDP growth posted in 2021 and far lower than the 4.1% estimate it announced for 2022 back in January.
Unsurprisingly, this has contributed to the growth-oriented Nasdaq Composite's 24% year-to-date plunge. Shares of the dominant footwear and apparel company Nike (NYSE: NKE) have fared even worse -- down 35%. This raises the following question: Could buying Nike stock be a nothing-but-net swish for growth investors at the current share price? Let's dive into Nike's fundamentals and valuation to find out.
Nike reported its fiscal 2022 earnings on June 27. Both revenue and diluted earnings per share (EPS) edged higher for the year.
Source Fool.com
