CNBC Host Says Berkshire Should Buy Iconic Consumer Brand After Stock Falls 75%

CNBC Host Says Berkshire Should Buy Iconic Consumer Brand After Stock Falls 75%

AJ Tiarsmith

Fri, September 18, 2026 at 5:41 PM GMT+3 3 min read

Quick Read

• Nike (NKE) has crashed 75% from its $169 peak while rival On Holding (ONON) also fell 42% YTD, exposing broad sportswear sector pain.

• Nike's seventh straight EPS beat was inflated by a $986M one-time tariff windfall, masking slipping revenue and a 17% China sales drop.

• Joe Kernen floated Berkshire Hathaway as a buyer, citing Nike's iconic brand, dividend aristocrat status, and Berkshire's $350B cash pile.

• Read More: Learn 7 secret wealth tips high net worth investors use that most investors miss (sponsor)

On CNBC's Squawk Box Friday, anchor Joe Kernen floated Berkshire Hathaway as a potential buyer for Nike (NYSE:NKE) after Swiss sportswear brand On signed French superstar Kylian Mbappé away from Nike. Kernen contrasted Nike's $35 tape with its high of $169 and noted Berkshire's "$350 some odd billion dollars lying around."

The speculation remains on-air chatter. But the numbers behind it explain why the idea landed at all.

A 12-Year Low, 13 Days Before Earnings

Nike changed hands at $36.26, leaving the stock down 48.2% over the past year and 74.59% over five years. Year to date, shares have shed 41.57%. Market cap now sits at roughly $43.66 billion, a fraction of the $264 billion peak in 2021. Reuters and Barron's both flagged this week that Nike's Dow seat may be in jeopardy after the slide, and press coverage noted LVMH executive Alexandre Arnault was added to the board as the stock hit its lowest level in 12 years.

Fiscal Q1 2027 results, filed June 30, 2026, showed diluted EPS of $0.72 versus a $0.1273 consensus, a seventh consecutive beat. Strip out a $986 million one-time IEEPA tariff recovery that added $0.52 to EPS and lifted gross margin roughly 900 basis points to 49.2%, and the quarter looks far more pedestrian. Revenue slipped 1.13% year over year, Greater China fell 17% currency-neutral, and Converse dropped 32%.

Learn 7 Secret Wealth Tips High Net Worth Investors Use

How do you continue to grow a seven-figure portfolio in retirement? The last thing you want is to run out of money, you want your money to generate lasting income while you enjoy your life.

Learn seven strategies high net worth investors use with new report: The Seven Secrets of High Net Worth Investors from Fisher Investments. Get your guide here (sponsor)

CEO Elliott Hill said "I'm confident we're building Nike the right way, not for the next quarter, but for the next decade," and noted "our consumer is under pressure around the world."

David vs. Goliath, Both Bleeding

The twist most coverage will miss: the brand poaching Mbappé is bleeding too. On Holding (NYSE:ONON) trades at $27.08, down 41.74% year to date and 38.23% over one year, with a market cap near $9.07 billion. Analysts still carry an average target of $42.65 and quarterly revenue growth ran 13.5%, but the shoe war is being fought between two beaten-down stocks.

What to Watch

Berkshire's cash and Nike's brand moat check Buffett boxes: dividend aristocrat, $18 billion four-year buyback, iconic IP. The next catalyst is Hill's November 16-17 investor day. Consensus for the quarter ending August 31, 2026 sits at $0.4537 EPS, with fiscal 2027 EPS estimates cut to $1.7211 from $1.8423 ninety days ago.

Learn 7 Secret Wealth Tips High Net Worth Investors Use

How do you continue to grow a seven-figure portfolio in retirement? The last thing you want is to run out of money, you want your money to generate lasting income while you enjoy your life.

Learn seven strategies high net worth investors use with new report: The Seven Secrets of High Net Worth Investors from Fisher Investments. Get your guide here (sponsor)

Contact editorial@247wallst.com for any questions or corrections.