NIKE, Inc. (NKE)'s Taking A Break From Being "A Juggernaut," Says Jim Cramer

We recently published a list of Jim Cramer Says “We Have No Idea What’s Really Going To Happen” and Discusses These 12 Stocks. In this article, we are going to take a look at where NIKE, Inc. (NYSE:NKE) stands against other stocks that Jim Cramer discusses.

NIKE, Inc. (NYSE:NKE) has been a regular feature of Cramer’s morning show this year. He believes that the firm’s new CEO has a lot of work to do to turn around its business. NIKE, Inc. (NYSE:NKE), according to Cramer, struggled under previous management and lost market share in its key markets. The firm’s shares have lost 18.5% year-to-date, and Cramer has attributed some of the weakness in the shares to NIKE, Inc. (NYSE:NKE)’s exposure to China. Here are his latest thoughts about the firm:

“Nike’s fine taking a break from the like, from being like a juggernaut from the 54 level.”

NIKE, Inc. (NYSE:NKE)’s China exposure is a facet of the stock that Cramer has discussed frequently this year. For instance, in April he remarked that the firm had done nothing wrong and had diversified its supply chain away from China. Yet, NIKE, Inc. (NYSE:NKE) suffered as the Trump administration announced tariffs on Vietnam too. Here’s what Cramer said later in the month:

“Well, I’ll tell you, you got Elliot Hill there. He’s an old hand. You have a 2.8% yield, but it is from China, it is China. The stock’s still $82 billion. Maybe it shouldn’t be $82 billion. I think the stock’s going to do very little. We own Starbucks for the Charitable Trust, and a lot of people feel that’s the same way, and I think Starbucks is a better company than Nike. So, just to understand that if it’s got China in it, people just say [sell, sell, sell] and then there’s nothing more to say.”

Overall, NKE ranks 5th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of NKE, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NKE and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.