Why was the Battle of Midway the turning point in the Pacific Campaign of World War 2?

The battle of Midway Island was the first big success for the US over the Japanese. Not only because of the major damage inflicted on the Japanese naval forces, both air and sea, but as a moral booster to the US forces. It also served the purpose of slowing down the Japanese advancement through the pacific, allowing the US forces to resupply and increase their presence in the Pacific theatre. Due to the recent destruction of most of the US 7th fleet at Pearl Harbor, the Japanese Imperial Navy had an overwhelming advantage over the US Navy. Midway was a turning point because the Japanese navy lost 4 aircraft carriers together with hundreds of planes and pilots and thousands of sailors. Naval power was no longer in the form of the battleship like in WWI. The real power was in the aircraft carrier, which could attack other ships and ground targets by air. Japan never replaced the power of those 4 carriers and was never able to be the attacking power it had been at Pearl Harbor. This allowed the US to take the offensive in the Pacific war and push Japan back.