Micron Became One of the 10 Biggest Holdings in S&P 500 Index Funds. What Does That Mean for the Stock?

Memory maker Micron Technology (NASDAQ:MU) now ranks among the biggest companies in the stock market. At the end of September, it was the ninth-largest holding in the Vanguard S&P 500 ETF (NYSEMKT:VOO), making up 1.82% of the fund. This put it above Tesla, at 1.52%. Funds made to track the S&P 500 (SNPINDEX:^GSPC) hold the same stocks at around the same weights, so Micron's place shows up in all of them. The whole Vanguard fund, which has about $1.7 trillion in the ETF and its other share classes, owned about 29.7 million Micron shares on Sept. 30, or around 2.6% of the company.

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