Tim Cook just gave Nike a much-needed holiday boost

Tim Cook sporting a custom pair of Nike Vomero Plus sneakers at an Apple store reopening in Tokyo earlier this year.

Apple

• Tim Cook bought $3 million in Nike shares, nearly doubling his stake in the company.
• Nike shares jumped after Cook's purchase, signaling support for CEO Elliott Hill's turnaround plan.
• Nike faces challenges, including falling sales in China and profit hits from tariffs.

Nike has Tim Cook to thank for its warm, festive glow this Christmas.