Fitz-Gerald Group Chief Investment Officer Keith Fitz-Gerald analyzes Apple and explains why Palantir stock is on its way to $100 a share on Varney & Co.
Apple’s board of directors has urged shareholders to reject a proposal that would have required the company to go out of business diversity, equity and inclusion (DEI) program, claiming that the move would be “unnecessary”.
The iPhone manufacturer defense of its DEI programs comes as several major corporations roll back so-called “woke” initiatives after the Supreme Court’s 2023 ruling against affirmative action and amid public pressure from activists.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 234.40 | -2.45 |
-1.03% |
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 activist shareholder, has suggested Apple drop its DEI efforts, saying such programs put the company at greater risk of be sued for discrimination.
DOES DEI DIE? HERE IS A LIST OF COMPANIES THAT HAVE RESTORED THE ‘AWAKENED’ POLICY
But Apple recommended that shareholders vote against the proposal, saying it was “unnecessary since Apple already has a well-established compliance program and the proposal inappropriately attempts to limit Apple’s ability to manage its normal business operations, people and teams, and business strategies.”
Panelists Jennifer Sey and Daniel Cameron discuss how large companies are bringing DEI and environmental, social and governance programs back to ‘The Bottom Line’.
DEI often includes prioritizing race, gender, or sexuality in hiring, training, and programming, and conservatives have criticized these initiatives as divisive and discriminatory. DEI advocates say these efforts address racial divides and provide support for historically marginalized groups.
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DEI’s policies have faced increased scrutiny over the past year, prompting at least a dozen major U.S. companies and hundreds of universities to withdraw those commitments, including Walmart, Meta and Ford.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 91.53 | -1.47 |
-1.58% |
| TARGET | META PLATFORMS INC. | 608.33 | -7.53 |
-1.22% |
| F | FORD MOTOR CO. | 9.71 | +0.06 |
+0.62% |
But Apple isn’t the only one firmly behind its DEI efforts. Most of the largest American companies still have such programs, and more recently Costco defended his DEI policy while calling on their own shareholders to reject the proposal that would finish them off.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| CHARGE | COSTCO WHOLESALE CORP. | 924.70 | – 24.12 |
-1.31% |
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FOX Business’ Kristine Parks contributed to this report.
