Apple now worth more than Dell

On October 6, 1997, in response to the question of what he’d do if he was in charge of Apple Computer, Dell founder and then CEO Michael Dell stood before a crowd of several thousand IT executives and answered flippantly, “What would I do? I’d shut it down and give the money back to the shareholders.”

A little more than a month later, on November 10, 1997, new Apple iCEO Steve Jobs responded, speaking in front of an image of Michael Dell’s bulls-eye covered face, “We’re coming after you, you’re in our sights.”

Today, after a little more than eight years of hard work, Apple Computer, Inc. passed Dell, Inc. in market value. That’s right, at market close Apple Computer ($72,132,428,843) is now worth more than Dell ($71,970,702,760).

Got any snappy retorts for that one, Mr. Dell?

Luckily, Apple has had the right man in charge since July 1997; a man with the vision and the ability to do what lesser men think impossible.

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Related articles:
Apple primed to pass Dell in market value – January 12, 2006
Corporate IT buyers fuming that Apple has Intel Core Duo Macs shipping while Dell and HP wait – January 12, 2006
Financial Times: Dell and Microsoft can never hope to attain Apple’s Mac aura – January 10, 2006
Struggling Dell has lost its mojo while Apple shows rapid growth – November 07, 2005
Apple growing faster with more innovative products, better support than ‘one-trick pony’ Dell – November 01, 2005
IDC: Apple shows rapid growth, holds 4.3% U.S. market share on 48% growth – October 17, 2005
Michael Dell say’s he’d be happy to sell Apple’s Mac OS X if Steve Jobs decides to license – June 16, 2005
Why buy a Dell when Apple ‘Macintel’ computers will run both Mac OS X and Windows? – June 08, 2005
Apple Macs are less expensive than Dell PCs – April 25, 2005
Dell CEO: Apple can’t just have one product and then say they’re the innovative leader of the world – February 22, 2005
BusinessWeek: Rather than dismissing Apple products as fads, Dell should try starting a few – January 31, 2005
Dismissive Dell CEO not impressed with Apple Mac mini, calls iPod a ‘one-product wonder’ and a ‘fad’ – January 17, 2005
Michael Dell owes Apple an apology; Apple up 176 percent vs. Dell’s 13 percent in past 12 months – January 15, 2005


  1. Wow, bull-eye! Steve’s perfect shot! Let’s all mark this historical day, and it’s only the begining of what Apple could become in the computing/multimedia powerhouse. M. Dell, feeling the burn? you sure wish you’d better kept your mouth shut then rite, look at you, nothing more than an idiot.

    Way to go Applel!!!

  2. Weird how dates sync up with Apple so perfectly…

    April 1st – Incorporate Apple (I think, that is)
    June 6th (D-Day) – Switch to Intel
    The Other Day – Stock price ends up $80.86
    Surpasses Mike’s Company – Friday the 13th

    Any others?

  3. In response to Moe, what it means that Apple, the company, is worth more than Dell, the company. If a third company were to buy one or the other, it would cost them more to buy Apple, in theory. What this means, is that the market, today, considers the present value of Apple’s future income stream, less its liabilities, is greater than Dell’s. The market capitalization should be approximately equal to this present value. If the market cap is greater, then institutions will sell, bringing down the stock price. If the market cap is greater, then they will buy, driving up the stock price, either way, driving the price toward the present value.

  4. There’s nowhere to go but down for Dell. Apple innovates “upward”, creating exciting new products and services that capture the public’s imagination and inspire interest in the company. Dell innovates plenty as well, but they innovate “downward”, finding new ways to increase production efficiency and cut costs, making computers as cheaply and quickly as possible.

    The problem for Dell is that “downward” innovation is limited by the floor; i.e. you can only cut and trim so far, and they’ve reached that limit. By contrast, Apple’s innovative capacity is limited only by the imagination of its employees.

    Dell has no real future. Oh, they won’t necessarily disappear, but they’ve achieved all they can achieve. From here on out, they’re merely another Windows box assembler, fighting with Lenovo et al for a share of a revenue pie that will steadily shrink as the product in question becomes ever more commoditized.

  5. Revenge is a dish best served cold.

    I imagine it’s a bit chilly inside Dell’s HQ these days. Sure, just like Microsoft, they’re a cash cow**, but they’ve got Lenovo sneaking up behind them. That can’t be a good feeling.

    **I just checked– Dell has a little more money in the bank than Apple. They’ll need it.

    Tera Patricks

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