Jobs: Michael Dell Can't Predict Future
As Apple's stratospheric rise continues, Apple CEO Steve Jobs shared a jab at Dell chairman Michael Dell with employees via e-mail on Friday. The comments are a response to a 1997 comment by Dell, who was asked what he'd do with Apple, then financially struggling and near collapse.
"What would I do?" Dell responded. "I'd shut it down and give the money back to the shareholders." A few weeks later at Apple's official announcement of Jobs' return, with a picture of Dell's face covered by a bull's-eye, Jobs said, "You're in our sights."
On Friday, Apple's market capitalization passed that of Dells. The company is now worth $72.13 billion, versus Dell's $71.97 billion.
Shortly following the market close, Jobs sent an e-mail to employees, showing he hadn't forgotten Dell's comments nearly eight years later.
"Team, it turned out that Michael Dell wasn't perfect at predicting the future. Based on today's stock market close, Apple is worth more than Dell. Stocks go up and down, and things may be different tomorrow, but I thought it was worth a moment of reflection today. Steve."
Dell was not returning requests for comment.