Apple's common stock is currently trading at $190 per share. The latest quarterly earnings of Apple showed that the company earned $10 per share (i.e., EPS) in 2018. Most analysts expect this EPS to hold for Apple in 2019. Google and Facebook, two of Apple's potential competitors in US, are currently trading at P/E ratio of 17 and 30, respectively. What would you say about the valuation of Apple's stock currently relative to Google and Facebook using only the P/E multiples apparoch? 1. The P/E multiples approach would suggest that Apple is currently correctly- priced relative to Google and Facebook. 2. Analysts should not use the P/E multiples approach because it is totally flawed in efficient financial markets. 3. The P/E multiples approach would suggest that Apple is currently undervalued relative to Facebook, but overvalued relative to Google. O 4. The P/E multiples approach would suggest that Google and Facebook are undervalued compared to Apple because Apple has little propsects for future growth in the smart phone market. 5. The P/E multiples approach would suggest that Apple is currently undervalued relative to Google and Facebook