For the first time in 20 years,Apple’s quarterly profit exceeded Microsoft. Thus, on the face of things, the companies should be roughly equally valued. But they aren’t. This week Microsoft’s market capitalization is about $215B, while Apple’s is about $365B – about 70% higher. The difference is, of course, growth – and how a lack of it changes management – including Microsoft. According to the Conference Board, growth stalls are deadly.