Sandisk added to Nasdaq-100, Atlassian removed

Nasdaq Inc announced that Sandisk Corporation will become a component of the Nasdaq-100 Index, replacing Atlassian Corporation before the market opens on Monday, April 20, 2026. The change was disclosed in a statement dated April 10, 2026 and reiterated in subsequent market reports.

Sandisk’s inclusion marks a notable adjustment in the benchmark index, which tracks 100 of the largest non-financial companies listed on the Nasdaq Stock Market. Atlassian, a software-as-a-service provider known for collaboration tools, will be removed from the index as part of this reshuffle.

Nasdaq stated that these updates are consistent with the current Nasdaq-100 methodology, which remains in effect through April 30, 2026. The methodology governs eligibility and selection criteria for index constituents.

The Nasdaq-100 Index is tracked by more than 200 investment products worldwide, including the Invesco QQQ Trust, with over $600 billion in assets under management tied to the benchmark. As a result, constituent changes can lead to substantial portfolio adjustments by index-tracking funds.

Market commentary notes that additions to the Nasdaq-100 often experience a "pre-inclusion rally" as passive and benchmark-aware investors rebalance holdings to match the revised index. Sandisk’s entry is therefore expected to draw institutional buying interest as the April 20 effective date approaches.

Conversely, Atlassian may see near-term selling pressure as passive products and other index-linked strategies reduce or exit positions to reflect its removal from the index. These flows are mechanically linked to the index reconstitution process rather than changes in the companies’ fundamentals.

Reports highlight Sandisk’s recent market capitalization expansion and its role within the global data storage and semiconductor industry as context for its inclusion. The company will join a group of large-cap, non-financial firms that Nasdaq describes as central to the "innovation economy."

Commentary around the reshuffle points to a broader market pivot toward hardware and infrastructure businesses that underpin growing demand for artificial intelligence and data solutions. In this framework, Atlassian’s removal accompanies a more challenging valuation backdrop for some software-as-a-service names.

The index change occurs amid heightened attention on semiconductor supply chains, which remain under scrutiny given geopolitical tensions in the Middle East. These conditions have kept hardware-focused companies and their benchmark weightings in focus for investors monitoring sector risk.

Analysts are expected to closely follow Sandisk’s forthcoming earnings and any disclosures affecting its index weight once it enters the Nasdaq-100. Updated index weightings will inform how much capital index-tracking products may need to reallocate to the stock.

For Nasdaq, the move underscores the ongoing role of Nasdaq Global Indexes as a provider of rules-based benchmarks used by asset managers worldwide. The firm maintains more than 35,000 indexes across asset classes and regions, with the Nasdaq-100 remaining one of its flagship measures.

Nasdaq emphasizes that information on its proprietary indexes is provided for informational and educational purposes only and should not be construed as investment advice. Investors are urged to conduct their own due diligence or consult securities professionals before making investment decisions.