Micron Technology at 52-Week Highs: Buy, Sell, or Hold?

Micron Technology at 52-Week Highs: Buy, Sell, or Hold?

Memory specialist Micron Technology's (NASDAQ: MU) stock price hit a 52-week high following the company's stellar fiscal fourth-quarter results. As it stands, Micron shares have shot up 140% in the past twelve months thanks to a rally in the prices of dynamic random access memory (DRAM) and NAND flash.

But skeptics believe that Micron's party isn't going to last forever. Memory prices will eventually hit a ceiling as more supply comes into the market, triggering a downturn that could knock the wind out of Micron's sales.

So does this mean that investors should start booking profits already, or will it pay to remain patient and keep holding Micron stock in the hope of more gains? Also, is it a good time for a new investor to initiate a position in the stock after its big run in the past year? Let's find out.

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Source: Fool.com