Apple CEO Tim Cook is on Nike’s board. In what has been seen as a vote of confidence, Cook made a purchase of $1 million of the shoemaker’s stock.
Tim Cook’s custom-made sneakers from an iPad Pro launch – Image source: Apple via Hypebeast
Tim Cook’s custom-made sneakers from an iPad Pro launch – Image source: Apple via Hypebeast
Tim Cook has a long-time relationship with shoe and fitness brand Nike that has lasted for two decades. On Friday, the Apple CEO deepened his dealings by buying more Nike stock.
In a filing with the Securities and Exchange Commission, Cook bought 25,000 Nike shares on April 10. At a value of approximately $42.43 apiece, that works out to be a total purchase of $1.06 million.