Apple Shares Rise 5.3% as Evercore Names It Defensive Pick Following Democratic Midterm Victory

Apple shares advanced about 5.3% following the 2026 midterm election results, adding another 0.9% in pre-market trading. Investment firm Evercore ISI named Apple among its top defensive tech picks after Democrats gained control of both the House and Senate. Evercore analyst Amit Daryanani highlighted that Apple's earnings rely on resilient iPhone and services revenue rather than AI data center construction. Additionally, analysts noted that potential regulatory hurdles could slow data center expansion, easing surging memory chip demand and reducing input cost pressures for consumer device makers like Apple.