Two Major Shareholders Push Apple To Study Harmful Effects Of Smartphone Addiction In Children

Two big shareholders of Apple (aapl, +1.13%) are concerned that the entrancing qualities of the iPhone have fostered a public health crisis that could hurt children—and the company as well. In a letter to the smartphone maker dated Jan. 6, activist investor Jana Partners LLC and the California State Teachers’ Retirement System urged Apple to create ways for parents to restrict children’s access to their mobile phones. They also want the company to study the effects of heavy usage on mental health. “There is a growing body of evidence that, for at least some of the most frequent young users, this may be having unintentional negative consequences,” according to the letter from the investors, who combined own about $2 billion in Apple shares. The “growing societal unease” is “at some point is likely to impact even Apple.” “Addressing this issue now will enhance long-term value for all shareholders,” the letter said. Continue reading…

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