THE MOTLEY FOOL – July 13 – Apple has a close relationship with Nike, with Tim Cook having sat on Nike's board longer than his tenure as Apple CEO. Nike also developed an app for the M7 motion coprocessor in the iPhone 5S prior to its launch. Several rumors insinuate that Nike may be tapped to give Apple clout in the fitness market with the iWatch. Nike canceled the FuelBand hardware to focus on software, with CEO Mark Parker saying he was excited about an Apple partnership. Apple even hired several former FuelBand team members.
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