Apple 2.0

Covering the business that Steve Jobs built

Apple is now worth 30 Dells

August 23, 2012: 7:24 AM ET

Also 17 HPs, 15 Facebooks, six Amazons, five Intels, three Googles or two Microsofts

As of Wednesday's close. Click to enlarge.

FORTUNE -- MacDailyNews on Wednesday used the occasion of Dell's (DELL) dismal second quarter earnings report to rub Michael Dell's face once again in his 1997 remark about what he'd do if he ran Apple:

"What would I do? I'd shut it down and give the money back to the shareholders."

In a post that charts Apple's (AAPL) growth in units of Dell, MacDailyNews points out that the company Michael Dell would have sold in 1997 is now worth more than 30 Dells. (UPDATE: At Wednesday's close the multiple was closer to 31.)

Dell, of course, is not the only Windows PC maker that is suffering. Hewlett-Packard on Wednesday reported the largest quarterly loss in its history.

To put the Apple-Dell valuation ratio in perspective, we offer the chart above showing the market caps of eight high-tech companies, including Microsoft (MSFT), Google (GOOG), Intel (INTC), Amazon (AMZN), Facebook (FB) and HP (HPQ).

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About This Author
Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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