Sandisk Joins S&P 100 While Nike Exits
On Monday, September 21, Sandisk (NASDAQ:SNDK) will join the S&P 100 index alongside Dell Technologies, Palo Alto Networks, and Arista Networks. This change follows an announcement by S&P Dow Jones Indices on September 4 that four companies—Nike (NYSE:NKE), Colgate-Palmolive, Simon Property Group, and Honeywell Aerospace—are being removed to make room for the newcomers. Sandisk's inclusion in the index reflects its strong performance this year. Its shares have surged over 600%, outpacing all other S&P 500 stocks, with a market cap of around $260 billion—more than four times that of Nike. The move is expected to generate modest demand from funds tracking the S&P 100 index, though this impact will be relatively small compared to broader market activity. Sandisk's recent success has been driven by strong revenue growth in fiscal 2026 and a significant rebound in profitability after posting losses the previous year. However, signs of slowing sequential growth suggest that while momentum remains high, it is beginning to moderate.
Topics: Nike S&P 100 Sandisk stock indices