The Big Bad Bite of the Apple

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In October 1997, Michael Dell, CEO and founder of Dell Computer (s DELL), when asked about what would he do to fix Apple (s AAPL), 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 (s MSFT). Dell, in sharp contrast ended the day with a market capitalization of $33 billion. Look who’s laughing now!

Nokia (s NOK), 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 (s 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.

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