Two Of Apple’s Largest Shareholders Urge Company To Address “iPhone Addiction” Among Kids

In an unusual move, two of Apple’s largest shareholders, Jana Partners, a large activist hedge fund, and the California State Teachers’ Retirement System (CalSTRS) penned a letter to the company over the weekend saying the smartphone maker needs to respond to what some see as a growing public-health crisis of youth phone addiction. Among other things, the pair, which control some $2 billion worth of Apple shares, urged the company to develop new software tools that would help parents control and limit phone use more easily and to study the impact of overuse on mental health.

By doing so, we believe Apple would once again be playing a pioneering role, this time by setting an example about the obligations of technology companies to their youngest customers.As a company that prides itself on values like inclusiveness, quality education, environmental protection, and supplier responsibility, Apple would also once again be showcasing the innovative spirit that made you the most valuable public company in the world.  In fact, we believe that addressing this issue now will enhance long-term value for all shareholders, by creating more choices and options for your customers today and helping to protect the next generation of leaders, innovators, and customers tomorrow.

Adding to the extreme irony of the letter, Jana and CalSTRS go on to highlight a series of studies which suggest that Apple products are literally killing the kids who use them and/or resulting in extreme bouts of depression or physical ailments from a lack of exercise. All of which would typically send investors running for the hills but apparently not in this specific case.