Nike Removed From S&P 100 After Nearly 18 Years

Effective September 21, the change concentrates the index in AI-linked technology, compelling index funds to buy four newcomers.

Overview

S&P Dow Jones Indices confirmed in its quarterly rebalance that Nike will leave the S&P 100 on September 21 while retaining its place in the broader S&P 500.
Dell Technologies, Palo Alto Networks, Arista Networks and SanDisk will replace Nike and three other companies in the S&P 100.
Nike’s market value has tumbled to about $57 billion, fiscal 2026 revenue was essentially flat at $46.4 billion, and the stock is trading near its 52-week low around $38.
Index-tracking funds must sell the departing names and buy the four tech additions, shifting the S&P 100’s weight toward chips, data-center hardware and cybersecurity firms.
The change caps a multi-year decline for Nike that has included weaker digital and Greater China sales, recent insider selling and store closures, and it may accelerate passive outflows and sector rotation into AI-related capital spending.