"You may currently use your smartphone for making calls, checking the Internet and snapping the occasional photo; but wouldn't it be convenient if it served as a credit card as well?" asks Dr. Melvin Pasternak.

The editor of Double-Digit Trading suggests, "Sound unreal? It's not. Mobile banking is a new and fast-growing trend. And one company making this possible is VeriFone Systems (PAY).

"Using small chips that emit short-wave signals, banking information can be securely transmitted from your smartphone to the cash register. You can make purchases by simply waving your phone over the store's chip.

Earlier this week,, I posted a bullish post on Apple (AAPL), in which analyst Geoff Seiler called the stock a huge bargain for the longer-term investor (see Apple: Another blowout quarter).

Following yesterday's announcment for the iPad, Andy Obermueller in his Government-Driven Investing, asks, "Is the new iPad a reason to buy the stock?" Here's his well-thought-out analysis."

Cutting through the hype and the niftiness of the device -investors need to ask themselves will people buy the device and will it have a significant effect on Apple's revenue?

"Research In Motion (NASDAQ: RIMM) remains one of best long-term investment plays on the smart phone tidal wave," says growth expert Toby Smith in his ChangeWave Investing advisory.

"The stock recently fell sharply after issuing a solid, but not blowout, earnings report last night. In my view, the selloff created a buying opportunity.

"The Street's dismay was due to the pre-announcement build-up by many analysts who anticipated a blow-out quarter. When the numbers and outlook failed to live up to their billing, the stock got whacked.

"In our view, this looks like a good buying opportunity for one of the dominant players in the smartphone sector -- and one of the hottest we've identified over the long-term.