"Microsoft Nears Surpassing Apple in Race for Top U.S. Market Valuation"

Microsoft is closing the market capitalization gap with Apple, now just $100 billion behind Apple's $2.83 trillion valuation. Microsoft's stock has outperformed Apple's over the past year, partly due to robust enterprise spending and its Azure cloud service's success, particularly in AI. Apple faces challenges with competition in China and a broader economic downturn affecting consumer spending, leading to revenue declines and stock downgrades.