Rick wears at least five different wristwatches in seasons 1 and 2. One is a particle beam wristwatch in "Get Schwifty", and three are under his left sleeve in the "Pilot" episode. One of them has an LCD-like display which (may) tell time, one has a small satellite dish, and another has spokes and something like wiry appendages.
Rick wears a watch under his right sleeve that controls blast shields around the house, which he uses to quarantine Alien Parasites in "Total Rickall". In later episodes, it is also shown to be able to transmit messages from and/or intercept communication lines ("The Rickshank Rickdemption"), generate holo-clones that distract potential enemies, indicate whether an enemy has a clear shot at his body, deploy a weaponry laser beam and produce a shield around his form ("The Rickchurian Mortydate").