Historically, tumultuous times offer some of the best opportunities to buy stocks, and the market's recent mess surely qualifies. And though disk-drive maker Western Digital (NYSE: WDC) has already bounced back from recession lows, many investors expect even better times ahead.

In our Motley Fool CAPS community, 94% of the 1,220 investors rating the company are bullish, so there's no shortage of reasons why Western Digital will thrive, three of which I've highlighted below.

But here at the Motley Fool, we're all for looking at both the good and bad sides of an investment. Once you're done with this article, you can read the case against the stock, weigh in with your own comments below or rate Western Digital yourself in CAPS.

1. Overrated pressures
Some CAPS members are brushing aside the worries of oversupply and pricing pressure in the hard-disk industry, putting faith instead in the trend of solid demand. Western Digital shipped nearly 10 million more units in its fiscal fourth quarter compared with the prior year, while posting big increases in earnings and revenue. The company sees demand remaining strong over the long term. Computer-memory maker Micron (Nasdaq: MU) recently said it's having trouble filling demand in all of its segments. With Intel (Nasdaq: INTC) and Dell (Nasdaq: DELL) seeing a wave of users upgrading their computers, Western Digital is in a sweet spot these days.  

2. Valuation
While shares of solid-state drive maker STEC (Nasdaq: STEC) are selling for a price-to-earnings multiple around 12, and storage specialist EMC (NYSE: EMC) commands a pricey multiple around 28, some CAPS members just can't pass up the single-digit earnings multiples of Western Digital or peer Seagate Technology (Nasdaq: STX).    

3. War chest
Western Digital has been cranking out free cash flow in recent quarters, which has continued to add cash to its balance sheet. With about $2.7 billion in cash, equaling close to $12 per share, investors like the options Western Digital provides, such as the possibility of more acquisitions and heavy investments in new technologies needed to compete in the future.

To see details of what CAPS members are saying now about Western Digital, just click on over to Motley Fool CAPS and have a look -- or add your own thoughts directly to this story in the comments box below.

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