Investing.com — Nasdaq Inc (NASDAQ:NDAQ) announced late Friday that will join the Nasdaq-100 Index® (NDX®), marking a significant shift in the benchmark’s composition.
Sandisk is set to replace before the market open on Monday, April 20, 2026.
A momentum shift in tech components
The inclusion of Sandisk highlights the company’s recent market cap expansion and its pivotal role in the global data storage and semiconductor landscape.
As a component of the Nasdaq-100, Sandisk will join an elite group of the 100 largest non-financial companies listed on the Nasdaq Stock Market.
The move is expected to trigger significant institutional buying, as more than 200 investment products, including the popular Invesco QQQ Trust, track the index, representing over $600 billion in assets under management globally.
Atlassian’s removal comes as the software-as-a-service (SaaS) giant faces a challenging valuation environment.
The company still leads in collaboration tools, and its exit from the index reflects the broader market’s pivot toward hardware and infrastructure plays that support the burgeoning AI and data economy.
Sandisk’s inclusion in the index follows the current Nasdaq-100 methodology, which remains in effect through April 30, 2026.
Passive inflows and market impact
Investors look forward to the addition of Sandisk to the NASDAQ 100 index, which typically results in a “pre-inclusion rally” as index-tracking funds adjust their portfolios to mirror the new benchmark.
Sandisk’s entry into the index provides it with increased visibility and liquidity, often lowering the cost of capital for the constituent firm. Conversely, Atlassian may face short-term selling pressure as passive funds divest their holdings to accommodate the change.
This reshuffle occurs against a volatile geopolitical backdrop, where semiconductor supply chains remain under intense scrutiny due to the ongoing regional conflict in the Middle East.
Nasdaq-100’s focus on large-cap, non-financial innovation continues to make it a primary barometer for the global “innovation economy.” Full earnings for Sandisk and the updated index weightings will be closely monitored by analysts leading up to the April 20 implementation date.
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