  The aim of this note is to provide an upper bound of the number of positive
integers $\le x$ which can be written as $\varphi(n)$ for some positive integer
$n$, where $\varphi$ stands for the Euler's function. The order of magnitude of
this estimate, which is roughly $x/\sqrt[4]{\ln x}$, implies that the set of
Euler's values contains arbitrarily large gaps.
