(NASDAQ: AAPL) has long been viewed as one of the largest growth stocks in the world. But the growth is slowing. In fact, it's been virtually nonexistent for a couple of years now.

With iPhone sales declining and Apple facing intense competition, it's fair to consider if it is best to stop viewing Apple as a growth stock and reclassify it as a premium dividend-paying, blue-chip company. Let's find out if that reclassification would make Apple overvalued relative to other opportunities.

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Source Fool.com