Apple is one of the most popular brands ever and that's because it re-invented itself. Dell has a shot at re-branding itself with the right leadership.
I think you're right on the money there. Apple re-invented itself; Dell will re-brand itself.
When Apple was in a slump it transformed from a computer company locked in a race to the bottom - fighting beige-box Mac clones with beige boxes of their own - into a design company that produces its own ecosystem of high-margin computers and online services (iTunes store, iOS / OS X app stores). Apple acknowledges this; "Apple Computer" is now just "Apple", officially.
I don't own a Macbook, and I don't want one, but I can totally understand why they're selling like hotcakes: elegant and sturdy design, luxury status, vertical integration of hardware / software / internet services, and now retina displays... the list goes on. Love them or hate them, but Apple's computers stand out.
Dell, on the other hand? They're still making cheap generic beige boxes, except these days they're "piano black". I'm sure that's exactly what their corporate/government customers want, but the question then is, "How do you re-invent yourself when your customers just want blade servers, cheap desktops, and on-site service plans?" Dell already does those things well.
I'm guessing that Dell's idea of "re-inventing itself" will be to buy Alienware again, or to imitate Apple. Hopefully, they'll try something none of us thought of and prove me wrong in the process.