NIKE is out of favor and will be for several months because their earnings momentum is gone, for the moment. I have no idea how much lower it will go, if at all. However, the brand alone is worth a lot. The business itself is very solid. Within the next 3 - 6 months is a wonderful time to buy a great company at an undervalued price because it is out of favor on Wall Street. For those willing to hold on to it for several years, you will make an outstanding return on investment. Short term players, as has been mentioned here before, probably should look someplace else. But investors, not speculators, have a great opportunity to buy one of the world's great brands and companies at a fire sale price. There are few great companies on sale right now - this is one of them.