Sandisk Joins the S&P 100 While Nike Exits
On Monday, September 21, Sandisk (SNDK) joined the S&P 100 index alongside Dell Technologies, Palo Alto Networks, and Arista Networks. This change was announced by S&P Dow Jones Indices on September 4 and took effect before market open. Nike (NKE), along with Colgate-Palmolive, Simon Property Group, and Honeywell Aerospace, exited the index to make room for new additions. Sandisk's inclusion reflects its strong performance in fiscal 2026, where it saw a more than sevenfold increase in stock price since entering the S&P 500. The company reported $20.25 billion in revenue and an impressive net income of $11.4 billion for fiscal year 2026, driven largely by surging demand from data centers. While index inclusion typically drives mechanical buying due to fund rebalancing, the impact on Sandisk's stock is expected to be minimal given its already high trading volume and existing presence in broader indices like the S&P 500. The iShares' S&P 100 ETF would likely purchase around $100 million worth of shares, a small fraction compared to daily trades.
Tickers: $ANET $CL $HONAV $NKE $PANW $SNDK
Topics: S&P Indices Sandisk stock market changes