Microsoft has become the top holding in QRFT, reflecting its significant strides in AI and the fastest growing service in Azure history. This change in portfolio composition could have a positive short-term impact on Microsoft's stock price, as it highlights the company's strong position in the AI field.

Although Apple has been replaced by Microsoft as the top holding in QRFT, the company's potential to leverage AI capabilities into standard features within its products could position it as a significant player in the AI space. This could offset any negative impact from the change in QRFT's portfolio composition.

QRFT's change in portfolio composition, replacing Apple with Microsoft as its top holding, indicates a shift in focus towards companies with strong AI capabilities. This could impact the ETF's performance in the short term, but it is difficult to predict the direction of the impact without more information on other holdings and market conditions.