Historically, tumultuous times offer some of the best opportunities to buy stocks, and the market's recent mess surely qualifies. And though memory maker Micron Technology (Nasdaq: MU) has already seen its stock recover from the recession, many investors expect even better times ahead.

In our Motley Fool CAPS community, 87% of the 876 investors rating the company are bullish, so there's no shortage of reasons why Micron 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 Micron yourself in CAPS.

1. Earnings momentum
Many bullish CAPS members have latched on to the positive earnings momentum Micron has shown in recent quarters. It put up monster-sized sales and earnings growth numbers in its fiscal third quarter, while companies it's working with around the tech sector such as Intel (Nasdaq: INTC), STEC (Nasdaq: STEC), and Marvell Technology (Nasdaq: MRVL) generated strong quarterly results as well. With the widespread strength in demand for technology products -- both industrial and consumer -- a good portion of investors look for Micron's good fortune to continue. 

2. Cheap shares
With an earnings multiple in the single digits and an estimated five-year growth rate of more than 11%, Micron's PEG ratio sits below that of peers like Rambus (Nasdaq: RMBS) and SanDisk (Nasdaq: SNDK). Some CAPS members can't pass up the bargain they see in Micron's shares while the company is booking profits and looking at a future that includes significant growth.

3. Industry strength
The global semiconductor market has been on fire, prompting the world's largest contract chip maker Taiwan Semiconductor (NYSE: TSM) to boost capacity, and leading research firm iSuppli to raise its 2010 global semiconductor market revenue growth forecast to 35%. iSuppli also sees particular strength in memory chip demand, which is Micron's bread and butter, leaving many investors thinking that all this spells good news for Micron's shares.

To see details of what CAPS members are saying now about Micron, 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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Fool contributor Dave Mock thinks three fish tacos is the perfect lunch combo. He owns shares of Intel, which is an Inside Value pick. The Fool owns shares of and has written puts on Intel. Motley Fool Options has recommended buying calls on Intel. The Fool's disclosure policy is a little sensitive about its birthmark.