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Four Alternative Smartphone Stock Picks

NEW YORK (TheStreet) --Apple (AAPL) and Microsoft (MSFT) have both had recent stellar smartphone moments, with Apple releasing an iPhone OS 4 update last week and Microsoft unveiling its two Kin phones yesterday. (The Kin One is pictured below.)

Yet many investors consider these stocks less than choice buys. Apple, which is trading at about $242.29, is expensive, and Microsoft's stock, which barely moved yesterday after the company's showy launch of two new youth-oriented phones, hasn't been very dynamic, gaining less than 1% in the last three months.

Cisco's Flip Camera Thrives Despite Apple Attack: Forbes

Plenty of other companies, though, are poised to benefit from the surging mobile phone boom. They're just a little less obvious.

With AT&T (T) pumping a billion dollars into its network this year, telco infrastructure is set to be the next big battleground in the smartphone war. Networking, virtualization, cloud technology and even managed wireless services will all be key weapons.

Juniper (JNPR) is one key player, a company that has clinched deals to support mobile data users on the Verizon (VZ) Wireless and Sprint (S) networks.

For companies like Cisco (CSCO), VMware (VMW), EMC (EMC) and Aviat Networks (AVNW), smartphones will likely equal dollar signs in the very near future.

Read on for more about these picks.

Stock quotes in this article: AAPL, MSFT, CSCO, VMW, EMC, AVNW 

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