(https://www.cnbc.com/2026/08/04/jpmorgan-goes-bearish-on-this-apparel-stock-due-to-its-lo.html) to underweight over a "multiyear turnaround" that'll weigh on financials. The consensus read: guidance reset, near-term pain, long-term gain. Wrong lens. Nike reported $46.4B in annual revenue with a 6.7% net margin—both stalling hard against peers.

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