Acting on panic never helps investors, but it's still a good idea to question why you're really buying individual investments.

Consider chip maker Micron Technology (Nasdaq: MU). Though the semiconductor sector continues to soar, you'll find a few of the 876 Motley Fool CAPS members weighing in on the company offer reasons to be bearish.

Here at the Motley Fool, we like to consider both the good and bad sides of an investment, so in this article, so I'm highlighting three of the main bearish arguments on Micron today. Be sure to read the bullish side as well, and then weigh in with your own comments below or rate Micron in CAPS.                                           

1. Weakening chip market?
Even though the semiconductor market has been hot recently with big quarterly sales numbers being reported by companies such as chip manufacturing equipment maker Applied Materials (Nasdaq: AMAT) and others such as Broadcom (Nasdaq: BRCM) and SanDisk (Nasdaq: SNDK), investors are more concerned with where the market may be headed going forward. Weak consumer confidence, anemic job growth, and overall economic weakness are all reasons the Semiconductor Industry Association recently gave for why it expects the industry to retreat going forward, which is keeping some CAPS members cautious.                    

2. Slowing PC sales
Wall Street analysts have been warning of falling PC sales lately, leading to pressure in stocks along the PC supply chain such as Intel (Nasdaq: INTC), AMD (NYSE: AMD), and Micron. One Baird analyst recently downgraded several semiconductor companies, including Micron and Texas Instruments (NYSE: TXN), citing signs of slower corporate spending in the second half of the year. As PCs make up a significant portion of the memory market, the potential for decreasing demand here has some investors questioning their positions.   

3. Uncertainty looming
Micron's management further fanned investors' worries during its latest earnings conference call with its unenthusiastic outlook for DRAM production for the current quarter, leaving some investors guessing as to the strength of future earnings. With potentially slowing production growth taken together with the possibility of weakening prices, investors are keeping a close watch on things going forward.            

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 votes three to be the number of the day. He owns shares of Intel, which is an Inside Value recommendation. 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 multicultural and loves to try new food.