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                                                                      EXHIBIT 11

                           DELL COMPUTER CORPORATION
                 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
                      (IN MILLIONS, EXCEPT PER SHARE DATA)



                                                            THREE MONTHS ENDED                 SIX MONTHS ENDED
                                                      ------------------------------    ------------------------------
                                                      JULY 28, 1996    JULY 30, 1995    JULY 28, 1996    JULY 30, 1995
                                                      -------------    -------------    -------------    -------------
                                                                                                          
Primary earnings per common share:                                                                                       
Calculation of weighted average shares (a):                                                                              
 Weighted average shares of common stock                                                                                 
  outstanding                                              89.9             90.8              90.9             87.4       
Weighted average shares of common stock                                                                                  
 equivalents, utilizing the treasury         
 stock method                                               7.4              7.4               6.8              7.2 
                                                         ------           ------            ------           ------       
Weighted average shares outstanding                        97.3             98.2              97.7             94.6       
                                                         ======           ======            ======           ======       
Earnings:                                                                                                                
 Net Income available to stockholders                    $  103           $   65            $  185           $  115       
                                                         ======           ======            ======           ======       
Earnings per common share (a)(b)                         $ 1.05           $  .66            $ 1.89           $ 1.22       
                                                         ======           ======            ======           ======       
                                                                                                                         
Fully diluted earnings per common share:                                                                                 
                                                                                                                         
Calculation of weighted average shares (a):                                                                              
 Weighted average shares of common stock                   89.9             90.8              90.9             87.4       
  outstanding                                                                                                            
 Weighted average shares of common stock                    7.7              7.9               7.7              8.1       
  equivalents, utilizing the treasury                                                                                    
  stock method                                                                                                           
 Assumed conversion of Convertible Preferred Stock           .5               .5                .5              3.4(c)    
                                                         ------           ------            ------           ------       
 Weighted average shares outstanding                       98.1             99.2              99.1             98.9       
                                                         ======           ======            ======           ======       
                                                                                                                         
Earnings:                                                $  103           $   65            $  185           $  115       
 Net Income available to common stockholders                 --               --                --                1(d)    
 Add:  preferred dividends                               ------           ------            ------           ------       
 Adjusted net income available to common                                                                                 
 stockholders                                            $  103           $   65            $  185           $  116       
                                                         ======           ======            ======           ======       
Earnings per common share (a)(b)                         $ 1.05           $  .66            $ 1.86           $ 1.18       
                                                         ======           ======            ======           ======       
                                                                                                                         

        

(a)      All share and per share information for fiscal 1996 has been
         retroactively restated to reflect the two-for-one common stock split
         which took place during the third quarter of fiscal 1996.
        
(b)      Earnings per common share was calculated using the underlying data in
         thousands.

(c)      Assumes conversion, at the beginning of fiscal 1996, of the 60,000
         shares of outstanding Convertible Preferred Stock and assumes
         conversion of the remaining Convertible Preferred Stock (those shares
         which were converted in March 1995) for the period from the beginning
         of fiscal 1996 to the actual conversion date.
        
(d)      Preferred dividends are exclusive of the conversion premium and 
         expenses of the conversion offer.