Bill Miller is the Chief Investment Officer for Legg Mason Capital Management and is the portfolio manager for the Legg Mason Value Fund. He's been the fund manager since 1982, and from 1991 to 2005, he absolutely demolished the S&P 500 (for 15 consecutive years!), becoming one of the most renowned value investors of our time.

So when Miller speaks up, I tend to listen.

Although he was generally optimistic about stocks, back in March he said he expected a 3%-5% correction. Since that date, the market has pulled back by 4.6%. I'm not saying he's exactly prophetic, but to the extent that we believe people like Warren Buffett and Peter Lynch have histories that can dictate their future success, well, Bill Miller fits that category for me.

In his July investing outlook, Miller recently had this to say: Certain stocks "represent a once in a lifetime opportunity in my opinion to buy the best quality companies in the world at bargain prices."

Big money, low multiples
So to try and figure out what Miller would be doing now, I did some digging around. I found out three very important things: He loves financials, he loves tech stocks, and he loves them cheap (the forward P/E multiple for his fund is 11.3). All together, information technology stocks constitute about 30% of his current portfolio.

And he's not the only one looking at tech stocks. Due to Eurozone fears, the threat of a double dip recession, and sky high federal deficits, many stocks are getting battered unfairly. Tech stocks have gotten hammered, and companies that still have rock-solid balance sheets, are increasing revenues, and are trading on the cheap -- well, they're just ripe for the pickin'.

Two of Miller's biggest holdings are IBM and Hewlett-Packard. Again -- they're companies with histories of success, they're trading cheaply, and they have great balance sheets.

So, to find five of the biggest winners of today, I screened for stocks in the tech category that are trading for P/E's of less than 13, that have cash roughly equal to debt or higher, and that have been able to consistently increase revenues over the last five years (no easy feat!). Here are the five that I think have the ability to absolutely bulldoze the market:

Company

P/E Ratio

Cash/Debt

5-Year Revenue Growth

Micron Technology (Nasdaq: MU)

5.2

$2.3B/$2.4B

8.7%

SanDisk (Nasdaq: SNDK)

9.6

$2.4B/$0.96B

18.7%

Corning (NYSE: GLW)

9.8

$4.2B/$2.0B

8.2%

Telestone Technologies (Nasdaq: TSTC)

12.1

$10M/$5.9M

30.5%

Microsoft (Nasdaq: MSFT)

12.3

$36.7B/$5.9B

9.4%

Note: Data compiled by Capital IQ; a division of Standard & Poor's.

SanDisk just had one heck of a second quarter as a leader in flash memory card development. Demand has been rapidly increasing as smart phones and tablets help to push up the need for its products. Revenues were $1.18 billion -- up over 60% from last year's quarter. Similarly, chip maker Micron has boasted that demand for its products are staying strong, which is not necessarily surprising considering that PC, netbook, and smartphone growth has been extremely robust as of late. Memory-licensing kingpin Rambus (Nasdaq: RMBS) saw rising second-quarter revenue, and shares have been on the up recently as it won a patent battle over both Hewlett-Packard and NVIDIA (Nasdaq: NVDA).

Speaking of great quarters, Corning has rights to the braggers' table -- the LCD glass maker increased revenues by 23% and saw earnings rise by another 49%. Controlling nearly two-thirds of the LCD glass market, CFO James Flaws says he sees "significant growth opportunities" and also expects China to become a huge part of their overall business.

As big time Chinese telecoms spend more and more money upgrading their networks, Telestone is sure to reap the rewards -- it provides network solutions to companies like China Mobile and China Unicom. This Chinese gem is expected to grow at a 30% clip per year over the next five years, and still, it's only trading for 12 times earnings.

What's there to say about one of the world's most storied and covered companies, Microsoft? It was written off long ago; you wouldn't be out of line to say the company's high-growth days are behind it. But it's trading so much lower than its five year historical P/E of 17.62, and with all that cash and a potentially fruitful acquisition environment in front of it, I wouldn't count this heavyweight out just yet.

The Foolish bottom line
Each of the companies listed above have the potential to be huge winners in your portfolio. In fact, scooping up techs right now, while they're trading as cheap as they are, could be the best opportunity in a decade. Go get em' while you can.

Jordan DiPietro owns no shares mentioned above. Microsoft is a Motley Fool Inside Value selection. NVIDIA is a Motley Fool Stock Advisor recommendation. The Fool owns shares of Microsoft and China Mobile. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.