Nike (NKE) surged 5% after hours to a new all-time high above $90, but the FQ1'20 quarter was not as impressive as presented. Revenues only grew 7%, but the company presented that EPS grew 29% to $0.86. The reality is that the major gains came from a boost in other income and a lower tax rate. Operating income only grew 13% to $1,543 million, up from $1,364 last FQ1. The amount is far less impressive than what Nike presented after the close and oddly is missing from the income statement. The question is whether you want to pay over 25x forward earnings for a company only growing operating income at 13% while a top competitor in Under Armour (UAA) has awoken. Nike might reach $100, but you want to sell the stock immediately. Disclosure: No position