Which of the following is incorrect?

Select one:

A. Your relative valuation could be right at the same time when the stock is truly overvalued.

B. Studies have found that PE ratio is more sensitive to changes in expected growth in low interest rate environment.

C. A potential problem for sector-specific multiples (e.g., EV/subscribers) is that it is hard to define the relationship between the EV and the number of subscribers.

D. Market may respond to earnings surprises less significantly in a low interest rate environment.