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Given its bleak short-term earnings growth prospects, shares of AAPL look overvalued at their current price level. They are trading at a 2.49x forward PEG, which is 53.2% higher than the 1.63x industry average.
Therefore, we think it could be better to invest in fundamentally sound consumer electronics stocks Sonos, Inc. (SONO), VIZIO Holdings Corp. (VZIO), and Turtle Beach Corporation (HEAR) instead.
