Shares of Micron Technology (NASDAQ: MU) have been on a roll recently. The memory chip veteran's shares have shown a total return of 40% in 2024 and 81% over the last 52 weeks, leaving the broader stock market far behind in both time spans.

However, Micron's stock has also dropped 22% below the all-time high it set in June, a week before its third-quarter earnings report.

Knowing that Micron's industry has strong cyclical tendencies, many investors are wondering whether it's time to cash in this cycle's profits right now. After all, the next big drop might be around the corner.

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Source Fool.com