SanDisk Set to Join the Nasdaq-100 Index, Replacing Atlassian
Nasdaq announced on Thursday that SanDisk Corporation will become a component of the prestigious Nasdaq-100 Index, replacing Atlassian Corporation prior to market open on Monday, April 20, 2026.
The addition of SanDisk to the Nasdaq-100 Index—which measures the performance of the 100 largest non-financial companies listed on Nasdaq—is expected to trigger significant institutional buying. More than 200 investment products track the index, including the popular Invesco QQQ Trust, representing over $600 billion in assets under management globally.
SanDisk’s inclusion highlights the company’s recent market capitalization expansion and its pivotal role in the global data storage and semiconductor landscape. The move comes as the company benefits from strong demand for enterprise solid-state drives (SSDs) and a recent 10% increase in NAND flash memory prices. Analysts have raised price targets on SanDisk stock, with some projecting targets as high as $1,250.
The reshuffle reflects the market’s increasing appetite for hardware and infrastructure plays that support the burgeoning AI and data economy. Atlassian’s removal, while notable, reflects current valuation pressures facing software-as-a-service businesses rather than any diminishment of the company’s leadership in team collaboration tools.
Index membership typically improves a company’s liquidity profile and lowers its cost of capital over time. Passive funds tracking the Nasdaq-100 will adjust their portfolios ahead of the April 20 implementation date.