$Nike(NKE)$ Nike (NYSE: NKE) has fallen to roughly $41, a level not seen in more than a decade. The stock looks cheap on the surface, but the deeper question is whether investors are buying a damaged brand or a temporarily impaired franchise. Nike's latest fiscal results show a company still struggling with weak demand, China, product freshness and profitability. Fiscal 2026 revenue was $46.4 billion, essentially flat year over year and down 2% on a currency-neutral basis. Net income declined 3% to $3.1 billion, while diluted EPS fell to $2.10. At the same time, there are reasons not to write Nike off. North America has shown resilience, wholesale is recovering, management is rebuilding its product pipeline, and the company still owns one of the wo