Two Apple investors are pressuring the iPhone maker to address concerns over smartphone addiction and the mental health effects of phone use among children, in a rare example of activist investors zeroing in on a public health issue rather than financial matters.
Jana Partners and the California State Teachers’ Retirement System, a pension fund that holds more than $1.5bn of Apple shares, issued a letter to the company over the weekend outlining their concerns.
They say there could be “unintentional negative side effects” of smartphone use by children and teenagers, and call on Apple to research the issue and provide phone settings limiting children’s screen time and content.
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