The stock market has a new, but familiar, monarch. Microsoft’s AI-powered stock rally has made the software giant the largest U.S. company by market value, surpassing Apple for the first time since November 2021. WSJ: Shares edged higher Thursday morning, bringing Microsoft’s market value to nearly $2.87 trillion. Apple, meanwhile, fell 1%, pulling its market capitalization just below that threshold. Either Apple or Microsoft has held the title since Feb. 4, 2019, according to Dow Jones Market Data. Microsoft’s stock has been on the rise for the past year thanks to the continued growth of its cloud computing division, even as major competitors like Amazon and Google have experienced a gradual slowdown in sales growth.

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