Apple’s board recommended that shareholders reject the DEI buyback proposal
Fitz-Gerald Group Chief Investment Officer Keith Fitz-Gerald analyzes Apple and explains why Palantir stock is on its way to $100 per share in Varney & Co.
Apple’s board of directors has urged shareholders to reject a proposal that would require the company to end its diversity, equity and inclusion (DEI) programs, arguing that the move is “unnecessary.”
The iPhone maker’s defense of its DEI plans comes as several major companies push back against a so-called “resurrection” following a 2023 Supreme Court ruling against affirmative action and amid public pressure from activists.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| AAPL | Company APPLE INC. | 236.85 | -5.85 |
-2.41% |
A proxy filing released ahead of Apple’s 2025 annual meeting shows that the National Center for Public Policy Research, a free-market think tank and shareholder activist, has recommended that Apple abandon its DEI efforts, saying the plans put the company at greater risk of being sued. discrimination.
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But Apple recommended shareholders to vote against the proposal, saying “it is unnecessary as Apple already has a well-established compliance program and the proposal unfairly attempts to limit Apple’s ability to manage normal business operations, individuals and groups, and business strategies.”
Panelists Jennifer Sey and Daniel Cameron discuss how big companies are getting back on track with DEI and environmental, social and governance initiatives in ‘The Bottom Line.’
DEI often involves prioritizing race, gender or sexuality in hiring, training and planning programs, and these programs have been criticized by conservatives as discriminatory and discriminatory. DEI supporters say these efforts address racial divides and provide support for historically marginalized groups.
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DEI policies have faced increased scrutiny over the past year or so, leading at least a dozen major US companies and hundreds of universities to reverse these commitments, including Walmart, Meta and Ford.
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| WMT | Company WALMART INC. | 91.59 | -1.41 |
-1.52% |
| META | META PLATFORMS INC. | 615.86 | +5.14 |
+0.84% |
| F | This company FORD MOTOR CO. | 9.65 | -0.09 |
-0.92% |
But Apple isn’t alone in standing firmly behind its DEI efforts. Most major American companies still have such programs, and Costco recently defended its DEI policies while urging its shareholders to reject a proposal that would eliminate them.
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| COSTS | Costco Wholesale Corp. | 936.94 | +9,57 |
+1.03% |
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FOX Business’ Kristine Parks contributed to this report.
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