Sandisk shares rallied sharply on Friday, climbing as much as 7.8% and still up 7.5% as of 12:34 p.m. ET, after S&P Dow Jones Indices announced earlier this month that the chipmaker would be added to the S&P 100, replacing longtime member Colgate-Palmolive, before the start of trading on Monday, Sept. 21. The S&P 100 is a subset of the S&P 500, the benchmark comprising roughly 500 of the largest U.S. companies, and includes the index's largest and most well-established members. The move is expected to spark short-term buying by major index and exchange-traded funds that track the S&P 100, which likely drove Friday's gain, while longer-term effects are seen as limited to prestige and increased visibility among institutional buyers. Sandisk's operating performance has been strong: for its fiscal 2026 fourth quarter ended July 3, revenue soared 372% year over year and 51% sequentially to $8.97 billion, while diluted earnings per share of $43.97 swung from a loss in the prior-year period and jumped 91% quarter-over-quarter. The stock trades at 24 times earnings and 8 times forward earnings.
Sandisk CorpSandisk is being added to the S&P 100, expected to spark index-fund buying and boost institutional visibility.
NVIDIA Corporation
Colgate-Palmolive Company