I just don't get it on these stock valuations

Just for the sport of it, with the Agilent announcement, I ran a comparison of Market Caps vs Revenue for seven companies, looking to see how Agilent had done vs. HP over the past fifteen years.  The numbers were a bit interesting (you can see the post on my INTRAPRENEURING INNOVATION blog)

Essentially Agilent, with $6.8 Billion in sales, is valued at $17B, the same as Dell with $62B in sales (which by the way is their highest in history).

Danaher, Agilent's closest competitor, has $17B in sales, is valued at $48B, 20% more than HP with $120B in sales.

But the thing that struck me, and I wasn't looking for this, is TAKE A LOOK AT THE PC WORLD in terms of INTEL, MICROSOFT, DELL and HP.   All four are highly leveraged on PCs.  The stock market must not think that matters for Intel or Microsoft.  Check out the slides below and tell me why their stock prices are so lofty...