In October 1997, Michael Dell, CEO and founder of Dell Computer, when asked about what would he do to fix Apple, he quipped: “What would I do? I’d shut it down and give the money back to the shareholders.”
Well after posting record revenues and record profits yesterday, at the end of the trading day today Apple had a market capitalization of $235 billion (roughly $259 a share) behind only Exxon and Microsoft. Dell, in sharp contrast ended the day with a market capitalization of $33 billion. Look who’s laughing now!
Nokia, another company whose executives mocked Apple, now has a market cap of $55 billion. As for Google — it ended the day with a market cap of $175 billion. Palm, another company that doubted Apple’s renaissance, is up for sale and is worth about $820 million on the stock markets. Which makes me wonder if Microsoft, whose CEO once dismissed the iPhone as a toy, will be lapped by Steve Jobs & Co?
Related: GigaOM Interview with Michael Dell.