After 18 Years, Nike Will Leave the S&P 100. Now Its Turnaround Faces a Bigger Test
- The iShares S&P 100 ETF is dropping Nike, Colgate-Palmolive, Simon Property Group, and Honeywell, replacing these established names with four technology companies tied to artificial intelligence capital spending.
- Nike reported 0% revenue growth in its most recent fiscal year, as business declined 13% in Greater China while growing only 5% in North America; the stock has fallen 76% over five years.
- New additions Dell Technologies, Palo Alto Networks, Arista Networks, and SanDisk reflect AI infrastructure demand, with Dell booking $60.9 billion in AI server orders in a single quarter and SanDisk's data center revenue growing 437%.
- The fund's transformation suggests the 'blue-chip' label no longer accurately describes OEF, which has quietly become a slightly diluted cousin of Invesco QQQ Trust concentrated in technology.
- For investors seeking broad exposure, the Vanguard S&P 500 ETF offers a cheaper option at four times lower fees than OEF, while those desiring deeper tech conviction might prefer Invesco QQQ Trust.
62 Articles
62 Articles
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American sports footwear and textile manufacturer Nike will drop out of the prestigious S&P 100 index of the largest American companies after 18 years. The reason is the weakening of the company's shares. Technology companies will replace Nike and several other companies that are leaving the index.
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