Nasdaq Inc. announced late Friday that SanDisk Corporation will be added to the Nasdaq-100 Index (NDX), with the change set to take effect before the opening bell on Monday, April 20, 2026. The company will enter the index in place of Atlassian Corp Plc.
The decision to include SanDisk reflects the company’s expanding market capitalization and its position within the global data storage and semiconductor sector. As a constituent of the Nasdaq-100, SanDisk will become one of the 100 largest non-financial firms listed on the Nasdaq Stock Market.
Index inclusion typically drives activity among institutional investors because numerous funds and products are designed to replicate the Nasdaq-100 composition. More than 200 investment products track the index, including the well-known Invesco QQQ Trust, collectively representing in excess of $600 billion in assets under management worldwide. That ecosystem of passive and index-aware active managers is likely to generate buying pressure for SanDisk as they align their portfolios with the updated benchmark.
Atlassian’s departure from the Nasdaq-100 comes amid a challenging valuation environment for the SaaS provider. While the company remains a leader in collaboration software, its exit from the index coincides with a market rotation toward companies focused on hardware and infrastructure that support the growing AI and data economy - areas in which SanDisk plays a role.
The inclusion of SanDisk follows the Nasdaq-100 methodology currently governing index membership, which Nasdaq has said remains in force through April 30, 2026. Market participants and analysts will be watching the firm’s upcoming full earnings report as well as the revised index weightings in the run-up to the April 20 implementation date.
Passive flows associated with index rebalancing can also produce short-term market effects. Investors often see a "pre-inclusion rally" as funds prepare to add a new constituent, increasing visibility and liquidity for the entrant and, in many cases, lowering its cost of capital. Conversely, companies removed from the index can experience selling pressure as funds trim positions to reflect the new composition.
This reshuffle is taking place against a backdrop of geopolitical volatility. The article notes that semiconductor supply chains are under heightened scrutiny because of the ongoing regional conflict in the Middle East, a factor market participants are monitoring alongside the index change.
Overall, the Nasdaq-100 continues to serve as a prominent gauge of large-cap, non-financial innovation companies. The market will be attentive to how SanDisk’s addition and Atlassian’s removal affect sector weightings and investor flows when the change is implemented on April 20, 2026.