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TheStreet Open House

5 Bargain Bin Stocks You Need to Buy

Stocks in this article: GLW CME TAP TX RDC

Corning

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First up is specialty glass and ceramics maker Corning (GLW - Get Report). Corning lays claim to some of the most advanced glass technology in the business, providing companies such as Apple (AAPL) with its patented Gorilla Glass for iPhone and iPad screens, and selling leveraging its expertise in manufacturing larger, thinner glass panels to serve other display makers. While Corning operates in a handful of businesses, glass used in displays (for everything from screens to internal components) makes up 40% of revenues.

One possible black cloud for Corning is the iPhone. With investors concerned that a slowdown in Apple's device sales could be around the corner, the reduced shipments are invariably going to trickle down to Corning. But that argument is overblown. Regardless of the handset maker, the touchscreen smartphone isn't going anywhere -- and Corning lays claim to some of the most attractive technology used to fortify glass enough for phone and tablet screens.

>>6 Tech Stocks That Rate Better Than Apple

Corning's exposure to consumer discretionary spending is hinged on mobile devices, flat screen TVs, and LCD monitors, three product segments that aren't slowing down in sales. On the other end of the spectrum, exposure to infrastructure like fiber optic cables and air filters skirts direct exposure to consumers completely.

A price-to-book ratio of just under one and an earnings multiple under ten put Corning squarely in bargain territory. Investors also shouldn't ignore the 2.25% dividend yield shares currently sport.

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