Atmosphere of the “Variety 2025 Power of Young Hollywood Party” hosted by SANDISK held at the Four Seasons Los Angeles at Beverly Hills in Beverly Hills, California on August 7, 2025.
Michael Buckner | Variety | Getty Images
Flash storage vendor stock prices sandisk Shares soared 7% in after-hours trading Monday after the company was added to the S&P 500.
SanDisk was added to the benchmark nine months after the company was spun out. western digital. SanDisk replaces marketing company Interpublichas been acquired by. OmnicomS&P Global said in a statement.
The company is the latest high-tech company to join the S&P 500, becoming increasingly valuable from its Internet, software and semiconductor businesses. App Labin, data dog, door dash and robin hood We became members of the Index earlier this year.
Fund managers that track the S&P 500 have to buy stocks to reflect changes, so stocks tend to rise as they are added to the benchmark.
Western Digital acquired Sandisk in 2016 for $15.6 billion. Western Digital spun off its flash business as Sandisk in February and now has a market capitalization of about $33 billion.
SanDisk sells high-speed storage drives for gaming PCs, digital cameras and surveillance cameras, and is also trying to win business from large data center builders. Revenue for the latest quarter rose 23% to $2.31 billion. The company reported a 31% increase in exabytes sold.
Omnicom announced plans to acquire Interpublic in December and announced on Monday that the deal had received antitrust approval from the European Commission.
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