Are Dell’s shareholders on Xanax? The computer maker has finally bowed out of its mad bidding war for 3Par, the data storage company. Yet its investors displayed neither much concern about overpaying nor relief about the deal’s being dropped. After a decade of scandals, missed opportunities and dismal performance, they may have stopped caring.

There was reason to worry. Dell looked desperate for 3Par. It raised its offer multiple times to compete with Hewlett-Packard. H.P.’s $2.1 billion winning bid was more than three times 3Par’s undisturbed market capitalization and values the company at almost 10 times estimated sales. Based on a typical tech premium of around 40 percent, H.P. appears to have overpaid by more than $1 billion.

Dell’s investors should be happy to have lost. 3Par’s final price tag would have been about 4 percent of Dell’s market capitalization. Moreover, Dell received a $72 million breakup fee for its troubles. Yet its shares rose only about 2 percent after Dell withdrew from the 3Par action on Thursday. The tranquilized market reaction reflected a seeming lack of ability to feel much anger or sadness during the battle. Dell’s shares fell little after its initial bid or the subsequent offers.

Maybe shareholders never thought Dell had a chance at 3Par. But a better explanation could be they have given up on the stock. Dell’s shares are down about 70 percent over the last decade. The company has gained a reputation for producing inferior products and offering poor tech support. An accounting scandal recently cost the company $100 million. Apple stands as a bigger threat to Dell’s computer sales while H.P., I.B.M. and Oracle are far ahead in offering one-stop shopping for clients.