Nasdaq100: Walmart Set to Join the Nasdaq 100 Index

Nasdaq100 remains one of the most influential equity benchmarks globally, tracking the largest non‑financial companies listed on the Nasdaq exchange. A recent development has put the Nasdaq100 back in the spotlight: retail giant Walmart is set to join the index, replacing AstraZeneca. This change signals not only a shift in the composition of the tech‑heavy index but also broader market confidence in new categories of growth stocks.

Walmart’s Entry into the Nasdaq100

Walmart’s inclusion in the Nasdaq100 will take effect on January 20, 2026, following a formal announcement by Nasdaq Global Indexes. The company is replacing AstraZeneca Plc, marking a notable shift as Walmart transitions from the New York Stock Exchange to Nasdaq — the largest such transfer ever recorded. Analysts forecast that this move could attract nearly $19 billion in inflows as funds and ETFs that track the Nasdaq100 rebalance their portfolios ahead of the inclusion.

Walmart’s rising market capitalization — approaching $1 trillion — reflects strong performance in both its traditional retail operations and expanding digital footprint, including e‑commerce and advertising revenue growth. As a result, its addition to the Nasdaq100 could broaden the index’s exposure beyond pure technology names, incorporating a major consumer sector leader into a benchmark historically dominated by tech and innovation stocks.

Implications for the Nasdaq100 and Investors

The Nasdaq100 is widely followed by passive investors and underpins major investment products such as the Invesco QQQ Trust, which tracks the index with assets exceeding $600 billion. Walmart’s inclusion could lead to significant capital flows, especially from index funds and ETFs that mimic the Nasdaq100’s composition. Market watchers note that big moves like this often shift sector exposures and attract new institutional interest in diversified index strategies.

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