2 Smart Buys In The Smartphone Arena You Can’t Pass Up: Research In Motion Ltd (BBRY), Corning Incorporated (GLW)

Watch mobile device

Not to be left out, Apple Inc. (NASDAQ:AAPL) also has been working on wearable technology with its wrist-watch.  The long awaited iWatch boasts a touch screen that is able to handle a series of functions from perusing a phone call list to sorting music playlists. According to Apple, “A response to a current text message can even be managed given a simple virtual keyboard configuration across the face of the flexible display.” The company recently submitted a patent application for its latest invention.

Valuation

How are these stocks priced in the market today?

BlackBerry and Nokia Corporation (ADR) (NYSE:NOK) are cheap, but investing in them is a bet on a turnaround. As such, they ought to be cheaper than their peers with currently profitable operations.

Corning Incorporated (NYSE:GLW) and Apple Inc. (NASDAQ:AAPL), on the other hand, are both cheap and currently profitable. The both trade at cheap price-to-earnings valuations and have great growth prospects. Corning trades at a discount to book value, which is particularly compelling considering that some of its value—internally developed R&D and brands—are not recognized on balance sheets.

Microsoft and Google are pricier. Microsoft is only attractive based on its price-to-free cash flow multiple, while Google is richly priced based on multiple valuation ratios.

Conclusion

Investors interested in the smartphone market and new device launches should consider Apple Inc. (NASDAQ:AAPL) and Corning Incorporated (NYSE:GLW) as buy candidates.

The article 2 Smart Buys In The Smartphone Arena You Can’t Pass Up originally appeared on Fool.com and is written by Bill Edson.

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