The Nike stock price was up 1% today (Wednesday) by 9:45 a.m. following the company's 2-for-1 stock split. A 2-for-1 stock split halves the price of shares, which is why the Nike stock price looks so much lower today.
The Nike stock price jumped nearly 3% after hours Tuesday and was flirting with an all-time high of $135.30 following solid fiscal Q2 2016 results.
The leading athletic apparel company posted earnings per share (EPS) of $0.90. That beat consensus estimates of $0.86. Revenue came in at $7.69 billion, slightly short of the expected $7.81 billion. But both figures easily topped the EPS of $0.74 on revenue of $7.38 billion earned in the same quarter a year earlier. 
Nike Inc. (NYSE: NKE) said that future orders for footwear and apparel from December 2015 to April 2016 were 15% higher than they were for the year-ago period.
Here's what is next for the Nike stock price following today's Nike stock split...
What's Next for the Nike Stock Price in 2016
Nike is one retailer that could outperform this holiday season and into the next year, according Piper Jaffray senior analyst Erinn Murphy.
Thanks to brand strength and product innovation, Nike has become the leader in the growing sports and athleisure wear industry.
Over the last five years, Nike has logged revenue growth of 10%. CEO Mark Parker, Fortune's 2015 Businessperson of the Year, recently said Nike expects its sales growth to be even higher over the next five years.
Nike also continues to align its brands with the biggest sports stars in order to drive sales.
And Nike traditionally turns in a stellar performance during global sporting events. The 2016 Summer Olympics take place next summer in Rio de Janeiro, boosting Nike's presence and appeal.
Nike is also launching a "new generation" line of shoes in 2016. A number of Nike-sponsored athletes have already started wearing the footwear, fueling sales and growth.
And the growing industry isn't the only reason to be bullish on the Nike stock price in 2016...
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Nike Continues to Return Money to Investors
The global sports-apparel market has grown at an annual rate of 5% in the past seven years, compared with the overall apparel market's 2% annual growth, according to Morgan Stanley.
"We are built for growth, while also staying committed to creating shareholder value over the long term," Parker said in November after Nike announced its seventh 2-for-1 stock split. "We've proven it time and again, having returned over $23 billion to shareholders over the last 14 years through share repurchases and dividends."
Year to date, Nike stock has climbed nearly 37.1%. During the same time, the Dow Jones is down 2.27%. The company has also beaten earnings expectations for 14 consecutive quarters.
This is one case where we agree with Wall Street - which is also bullish on the Nike stock price...
On Dec. 15, Stifel hiked its pre-split Nike price target to $145 from $135. The firm said it continues to see upside capacity to Nike's full-year 2016 guidance led by strong demand in Western Europe and China, and gross margin drivers including channel strength and strong geographic mix. A solid innovation pipeline into the Olympics will help sustain momentum into 2017. With continued double-digit constant currency revenue growth, Stifel believes Nike will sustain the 26-times forward multiple of consensus estimates into 2018.
Of the 32 analysts that cover the stock, 25 rate NKE "Buy." Two rate NKE "Overweight" and five maintain a "Hold," according to data from The Wall Street Journal.
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