We're already addicted: Apple investors shrug off iPhone addiction concerns

Two of its investors have pushed Apple to help curb young people's addiction to smartphones

Apple Inc investors are shrugging off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits.

Hedge fund JANA Partners LLC and the California State Teachers' Retirement System (CalSTRS) pension fund said on Saturday that iPhone overuse could be hurting children's developing brains, an issue that may harm the company's long-term market value.

But some investors said the habit-forming nature of gadgets and social media are one reason why companies like Apple, Google parent Alphabet Inc and Facebook Inc added $630 billion to their market value