On April 10, Nasdaq Inc. announced that global storage giant SanDisk Corporation will be added to the Nasdaq-100 Index before the market opens on Monday, April 20, while giant of SaaS -- Atlassian Corp Plc (TEAM) will be removed.

Market analysts believe this change marks SanDisk's recognition as a core player in the global data storage and semiconductor sector, join the camp of the 100 largest non-financial companies listed on Nasdaq.

According to the Nasdaq exchange website, the Nasdaq-100 Index is designed to measure the comprehensive market performance of the 100 largest and most liquid non-financial companies listed on Nasdaq, focusing on high-growth, high-innovation businesses. It excludes financial industries (including banks, insurance companies, brokerages, REITs, SPAC,etc.). The index reflects the development trends of global growth sectors including technology, consumer, and healthcare, and is widely regarded as a bellwether for technology capital.

Shares of SanDisk edged slightly lower on Friday. However, benefiting from the super cycle in memory chips, data shows that the company's stock has surged more than 200% year-to-date.

SanDisk's fiscal Q2 2026 (ended Dec 31, 2025) results beat expectations across the board: revenue of $3.025 billion, up 61% YoY; net income of $803 million, up 672% YoY; EPS of $5.15, up 615% YoY; and gross margin of 50.9%, up 18.6 percentage points YoY.

Recently, some market participants have argued that the current memory cycle has already peaked. Speculation that Google's new technology could lead to a "cooling in storage demand", It has triggered a sharp pullback in memory stocks. However, the team led by Morgan Stanley semiconductor analyst Joseph Moore is bullish on memory stocks. They believe that this is not a traditional cyclical top, but an "AI-driven structural supply-demand imbalance." Memory has become a key bottleneck in AI development, and the sustainability of the industry's strong momentum has been significantly underestimated.