In this Dec. 17, 2017, photo, a baby girl plays with a mobile phone while riding in a New York subway. (AP Photo/Mark Lennihan)
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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.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 in 2017 .Alphabet and Facebook could not immediately be reached for comment Monday. Facebook has said social media can be beneficial if used appropriately.CalSTRS holds $1.9 billion in Apple stock, a sliver of the company's nearly $900 billion market value, while JANA declined to disclose the size of its smaller stake.Kim Forrest, senior portfolio manager and vice president at Fort Pitt Capital Group, agreed that companies like Facebook, Twitter Inc. and Snap Inc. might be more at risk than Apple if investors and regulators push back on how much time people spend on mobile devices.The company holds Apple stock, but the funds Carey manages do not.
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