It's absolutely clear how "Wall Street" assesses any company.
"Wall Street" assesses stocks based on whether they can make money at a given valuation. Full stop. They are not investing. The are not acting as agents for investment. They are identifying and executing trades.
If you're trading, an undervalued company you can't convince anyone else to pay more for (or less for, to profit via shorting) isn't a "value".
Because it's simply not about fundamentals.
I fully expect that when Wall Street can no longer convince anyone to pay less for Apple shares, they will begin building the "Apple is unstoppable" narrative and attempt to make money on increasing share price, driving it back up to a record peak. At which point they'll start the cycle over.
"Wall Street" assesses stocks based on whether they can make money at a given valuation. Full stop. They are not investing. The are not acting as agents for investment. They are identifying and executing trades.
If you're trading, an undervalued company you can't convince anyone else to pay more for (or less for, to profit via shorting) isn't a "value".
Because it's simply not about fundamentals.
I fully expect that when Wall Street can no longer convince anyone to pay less for Apple shares, they will begin building the "Apple is unstoppable" narrative and attempt to make money on increasing share price, driving it back up to a record peak. At which point they'll start the cycle over.
Over and over. Because it keeps working.