Sandisk Corporation was added to the S&P 500 index on November 24, 2025, replacing Interpublic Group. The change became effective before the market open on November 28, 2025, and simultaneously removed Sandisk from the S&P 600 Small‑Cap index, where PTC Therapeutics Inc. took its place.
The inclusion follows Sandisk’s February 2025 spin‑off from Western Digital and reflects the company’s rapid growth. At the close of the day the index change was announced, Sandisk’s market capitalization stood at approximately $33 billion, placing it among the larger technology peers in the index.
Sandisk’s most recent quarter, the first quarter of fiscal 2026, delivered a 23% year‑over‑year revenue increase to $2.31 billion, up 21% sequentially from $1.90 billion in the prior quarter. The growth was driven by a 26% rise in data‑center revenue, fueled by strong demand for AI‑inference and high‑capacity storage, and by a 12% increase in consumer and edge markets. Adjusted earnings per share of $1.22 beat analyst expectations of $0.89, a $0.33 or 37% lift, largely due to disciplined cost management and a favorable mix shift toward higher‑margin AI and data‑center contracts.
Management highlighted the company’s strategic focus on AI and data‑center NAND, noting that the BiCS8 3D NAND technology and High Bandwidth Flash (HBF) platforms are key drivers of the revenue and margin expansion. CEO David Goeckeler said the firm is “executing with discipline, balancing innovation and operational focus,” and that the tight NAND supply environment is a tailwind that supports higher pricing power.
Looking ahead, Sandisk guided for fiscal 2026 revenue of $2.55 billion to $2.65 billion, a significant upward revision from the prior guidance of $2.40 billion to $2.50 billion, and adjusted EPS of $3.00 to $3.40, well above the previous forecast of $1.79. The guidance signals confidence in sustained demand for AI‑driven storage and a continued ability to capture margin expansion as the company scales its high‑performance product lines.
The S&P 500 inclusion is expected to increase institutional demand as passive funds and ETFs adjust their holdings, providing a stable source of capital and broader visibility among index‑tracking investors. Combined with the company’s strong earnings beat, robust guidance, and strategic pivot to AI and data‑center markets, the event positions Sandisk for continued growth and a stronger competitive stance within the NAND flash industry.
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