As investors debate over the iPhone from Apple (NASDAQ: AAPL) vs. the BlackBerry from Research in Motion (NASDAQ: RIMM), growth stock guru Toby Smith sees room for both in his ChangeWave Investing portfolio. Here's his latest.

"Apple recently took a big step out of its consumer-oriented world and into the corporate realm, one dominated by Research In Motion.

"Apple is teaming up with Microsoft to make the iPhone more 'businessy' for corporate users. Obviously, when the iPhone was launched, it was a huge success with consumers. Now, Apple is opening up the platform and making it more appealing to businesses.

"With its much-awaited iPhone software developers kit, Apple is banking on third-party software to differentiate the iPhone from the BlackBerry. The biggest challenge for Apple will be overcoming concerns about security, e-mail synching and the iPhone's high price.

"Undoubtedly, this shift into the corporate realm will take time, and it will likely be the small- and medium-sized companies that are the first to adopt the iPhone for business.

"Today RIM's dominance in the corporate market is still growing. In our latest ChangeWave Alliance survey, 77% of companies said they plan to buy RIM's BlackBerry in the next quarter, up three points from the previous survey in November.

"In comparison, 11% plan to buy Apple's iPhone, down three points from November. Clearly RIM is still the momentum leader in the near term.

"Of course, another aspect of this Apple-RIM battle is the consumer market, where corporate-minded RIM has already begun to make inroads, as it introduces a number of features geared to the consumer user.

"But Apple's move into the corporate world is the main story, and it could eventually impact RIM's market share. In the history of technology markets, there has probably never been such a huge opportunity as we see with smartphones today -- so these two market leaders remain in a great position.

"We think there is room for both companies in the smartphone market, especially as Palm and Motorola fall by the wayside."

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