Stephen Curry celebrates in a game against the Cleveland Cavaliers last year. 
Stephen Curry celebrates in a game against the Cleveland Cavaliers last year.  - 
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Nike reports quarterly earnings this afternoon. Analysts have high expectations.

But could reigning NBA MVP Steph Curry, and his deal with Under Armour, pose a threat to the sports giant?

Under Armour has seen a huge increase in basketball shoe sales.

"I think every brand can be successful in this space," said Matt Powell, a sports industry analyst at The NPD Group. "I just don’t think any brand catches Nike."

Powell said Nike controls more than 90 percent of the multi-billion dollar market for basketball shoes.

Morningstar analyst Paul Swinand said the company's done a good job growing demand for its basketball shoes by selling more expensive pairs here in North America, and "by getting people to play basketball or just wear basketball sneakers to school in Europe and in China."

Sure, Nike’s probably kicking itself that it didn’t sign Steph Curry.

Who isn't. 

But, Swinand said, the strong U.S. dollar is a bigger concern for Nike in the scheme of things.

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Follow Adriene Hill at @adrienehill