Do you know how to get there...

Is a common question you get nowadays when travelling somewhere. The answer has now been simplified to a VERB that references a webpage. It usually goes something like this: Well I'll MAPQUEST it, or don't forget to GOOGLE it, or hey I'll look it up on Yahoo Maps. And for the sophisticated crowd they will be happy to let you know that they are looking up directions on their Global Positioning System (GPS) device. You have seen the increase in commercials telling us to use "Tom Tom" or a "Garmin" GPS device to get you to where you need without much thought on your part. And when you go to Google, Mapquest and Yahoo have you ever noticed the little company in the corner of the map with the trademark. It usually says NAVTEQ, which is the provider of digital mapping technology.

So I am bringing up the obvious because when I read a book awhile ago by legendary investor named, Peter Lynch, one of the themes I took away was INVEST IN WHAT YOU KNOW. And what I know is there is definitely a buzz around GPS devices and digital maps. So I remind all Urbanomics readers...when something is in front on your face, don't overlook the obvious. A friend of mine just bought a portable Garmin device that can be used inside and outside of the car. And the other night as we headed to a new club, my brother used the computer to get directions to the location. Lastly, I am in the search for a new car and for the first time ever I included in my search the cars with navigation technology.

So what companies are leading the way say in digital maps and GPS technology. Check these companies out:

GARMIN (GRMN) - maker of GPS devices
NAVTEQ (NVT) - digital mapping
TRIMBLE (TRMB) - maker of GPS devices
SIRF TECH (SIRF) - maker of semiconductor chips that are used in GPS devices

So if I am an average person and I realize the growth of this industry its pretty easy to guess that so have the guys on Wall Street. Need proof, just look at the stock prices of these companies. I think GRMN alone is up over 60% this year alone. So why am I telling you to talk a look at this group, because just like other technologies that were in the stages of taking off, like the IPOD, mapping technology will become a household function used everyday in cars, on the computer, and through portable devices. These stocks are richly valued so wait for an opportunity to buy them, especially going into the holiday season. One thing that I also have learned is that its difficult to price a fast growing stock like the ones listed above...they could keep going up and up.