Here are Tuttle’s Takeaway’s on Nike ($NKE) which we plan to share on TV tomorrow before earnings:

• Bulls say $NKE is a consumer staple with luxury gross margins and a generational brand.

• Bears say $NKE is still not cheap at 47 P/FCF and plenty of better deals in consumer discretionary space. As a worldwide business, Nike is exposed to near term global issues like the war in Ukraine, shipping problems, and rising input costs due to inflation.